Share

Spiro J. Verras Blog

Monday, February 19, 2018

Creating an Educational Trust


What are the benefits of an educational trust?

College education prices are rising each year.  Parents can expect to pay anywhere between $9,000 and $34,000 in tuition and fees annually, depending on whether your child attends a public or private university.  In addition to tuition costs, parents must anticipate the costs of housing expenses, food, books, and other supplies.  To help provide for your child’s future educational needs, you may wish to consider setting up an educational trust.  Our Read more . . .


Monday, February 12, 2018

The Costs of Probate in Florida


How can I reduce the expense of probate?

If you pass away in the state of Florida, your assets will likely need to go through probate.  Probate is the court-administered process through which the validity of a will is established, assets are located, expenses settled, and the remaining proceeds distributed to the heirs.  The value of the estate will determine, in part, the costs of probate in Florida.  Our Read more . . .


Thursday, February 1, 2018

Estate Planning for Business Owners


Why is it important for small business owners to have an estate plan?

Creating a comprehensive estate plan is one of the most important steps that you as a business owner can take to safeguard your assets and protect your loved ones.  Without an estate plan in place, your loved ones and your business may flounder if you died unexpectedly.  Your heirs could even be forced to enact a quick sale of your business to satisfy probate related tax obligations.  Our Read more . . .


Monday, January 22, 2018

Making Your Advance Directive in Florida


What is an advance directive?

An Advance Health Care Directive or Advance Directive is a legal document that states your preferences for medical actions that you want or do not want to be taken if you are critically ill or injured.  An Advance Directive should be included in all estate plans as it provides doctors and loved ones with clear guidance on how you want to be treated if you reach the end of your life.  Each state has its own unique Advance Directive form.  As such, Floridians will want to Read more . . .


Tuesday, December 19, 2017

Make Estate Planning Part of Your New Year’s Resolution


What will happen if I die without an estate plan?

The New Year is rapidly approaching, which means now is the time to start thinking about your New Year’s resolution.  Most of consider setting our goals as getting in shape or making better financial decisions.  Estate planning may not be something that many consider, but you should.  Fewer than half of all Americans have even a basic will in place.  Without an estate plan, your assets could be heavily taxed, go to unwanted individuals, and potentially even become the property of the state.
Read more . . .


Friday, December 15, 2017

Celebrity Estate Planning Fails


How can I make a foolproof estate plan?

Many of us would assume that most celebrities have comprehensive estate plans.  After all, wealthy celebrities have access to professional managers and experienced attorneys.  Despite their wealth, at least three mega-celebrities passed away in recent years without an adequate estate plan in place, leaving their loved ones broken hearted and grappling with substantial estate taxes.  Our Read more . . .


Thursday, November 30, 2017

Make Your Estate Plan Before You Retire


Why is estate planning an important part of planning for my retirement?

As you approach your retirement years, you will likely be inundated by financial planning.  Retirement planning involves putting in place the investments and health insurance you will need to maintain your financialwellbeing during retirement.  Estate planning, on the other hand, involves having a plan in place that will help your heirs to retain as much as your assets as possible upon your death. While the two concepts are different, they are also interrelated.  As you get your finances in order to retire, now is the perfect time to also initiate yoRead more . . .


Sunday, November 12, 2017

Estate Planning and Your Retirement Account


Do retirement accounts need to go through probate?

When it comes to estate planning, retirement accounts are often overlooked.  Usually, a retirement account will pass directly to the named beneficiary without passing through probate.  However, it is still critical to include your retirement accounts in your estate plan so that you can reduce the often burdensome federal and state estate tax.  Our Read more . . .


Monday, October 30, 2017

The Advantages of a Trust vs. a Will


How can I avoid probate in Florida?

Wills and trusts both allow you to name beneficiaries who will receive your assets in the event of your death.  While wills and trusts share some of the same functions, there are several advantages of a trust as opposed to a will.  If you are setting out creating your estate plan, it is important that you carefully consider the potential estate planning tools available to you.  OurRead more . . .


Sunday, October 15, 2017

Advanced Class: Navigating Florida's Intestacy Laws

Intestate means having died without a will. If there is no will, each state has laws that specify who will inherit the property of the deceased (referred to as the "decedent" in probate proceedings), which are usually based on the closeness of familial relationships. In complex situations, intestacy can lead to unwieldy results, and even in the simplest cases can unnecessarily complicate the probate of the estate while the family relationships are proven to the probate court.

An example of the chaos intestacy can cause is the $300 million estate of the rock performer known as Prince (real name: Prince Rogers Nelson), who died intestate in 2016. Prince had never been married, had no children, and was predeceased by his parents, whose marriage produced only two children. Under Minnesota's intestacy laws, his sole heir and next of kin should have been his sister. However, within weeks of his death, over 700 people claimed to be Prince's half-siblings (out-of-wedlock children of Prince's late father) while others claimed to be Prince's own out-of-wedlock children.

Intestacy statutes usually come into play when the deceased leaves no will. However, intestacy statutes also apply to property not properly disposed of in a valid will or to the extent that the law prohibits a disposition of property by will, such as under Florida's restrictions on descent of homestead.

Here's how intestacy works in Florida:


Read more . . .


Friday, September 29, 2017

Estate Planning and Second Marriages


How might my second marriage affect my estate plan?

American families today are increasingly blended.  It is estimated that about four out of every ten new marriages include at least one person who has been married before, according to data released by the United States Census Bureau.  Estate planning can take on heightened importance when second marriages and children from previous relationships are involved.


Read more . . .


← Newer12 3 4 5 6 Older →

Archived Posts

2018
2017
2016
2015



© 2018 Verras Law, P.A. | Disclaimer
31640 U.S. Hwy. 19 N, Suite 4, Palm Harbor, FL 34684
| Phone: 727-493-2900
1609 W. De Leon Street, Third Floor - Santos Mediation, Tampa, FL 33606
| Phone: 813-228-6800
360 Central Avenue, Suite 450 - Compass Land & Title, St. Petersburg, FL 33701
| Phone: 727-892-6050

Estate Planning | Probate / Estate Administration | Elder Law | Business Law | Commercial Real Estate | Residential Real Estate | Immigration Law | | Attorneys

Law Firm Website Design by
Amicus Creative