Recent Blog Posts
New Study On Trusts vs. Wills Enlightening For Florida Residents
Most Florida residents know that various documents have become an important part of the estate planning process. While wills continue to have a role, many locals see trusts as an effective way of avoiding the cumbersome probate process. Now, a new international study suggests that this American model is being followed overseas as well…. Read More »
Legislation proposed to end Florida counties’ cremation tax
One question that often arises in making estate planning decisions is whether a person prefers to be buried or cremated. In most Florida counties, there is a tax for cremation services, but a recently introduced bill aims to do away with that additional tax. The bill meant to eliminate the tax has been approved… Read More »
The estate planning process: What is probate?
Many people fear probate, but they aren’t sure what it is or how it works. In essence, probate is a name for a court process whereby a judge determines the validity of a will and chooses a person to be the executor of the estate administration process. In Florida, the probate process is complicated…. Read More »
Understanding the importance of updating beneficiary designations
Many Florida residents might have already created their estate plans and have all the documents signed off on. However, estate planners should keep in mind that as life changes, so should your plans for the future. One of the most common estate planning errors is neglecting to update beneficiary designations. For example, life events… Read More »
Dispute over Rauschenberg trust continues
The word “trustee” implies that someone designated with the title is a person whom you trust. In the context of estate administration, this trust is even more important. A trustee is appointed to attend to legal and financial affairs following a person’s death. But how do you prevent a trustee from overstepping his or… Read More »
Court battle over painting shows need for estate planning
Florida residents undoubtedly remember Farrah Fawcett. The star was mainly known for her acting roles, but a recent legal dispute has brought Fawcett’s name back into the spotlight. Fawcett passed away in 2009, but her long-time partner, Ryan O’Neal, has struggled to handle her estate. Two portraits of the actress were created by Andy… Read More »
Undiscovered assets may complicate estate administration
Sometimes one of the most difficult aspects of estate administration is finding all of the assets that should be included. A recent case involving a former Florida resident is an excellent example of such estate complexities. The woman is seeking a payout of a life insurance policy owned by her deceased mother who passed… Read More »
Heirs find family keepsakes more valuable than money
Contrary to popular belief, the most valuable assets left by the aging parents of baby boomers may not be monetary assets but instead can be meaningful family keepsakes. Unfortunately, though, unless family members talk about these special mementos before they become an inheritance, expectations and misunderstandings could lead to family conflicts. With that in… Read More »
Online assets increasingly important in estate planning inventory
When you visit a Florida estate planning attorney to begin the process of preparing your estate planning documents, one of the first instructions you will likely get is to prepare an inventory of your assets. That will require you to go through all of your financial assets, such as bank accounts and retirement plans,… Read More »
Is your Florida estate plan out-of-date already?
We’ve written before about how family relationships can be complicated, and how a comprehensive estate plan can address complex family dynamics. For example, estate owners in Florida sometimes forget to change their beneficiary designations when a divorce or death in the family occurs. With retirement plans, joint bank accounts, trusts and insurance policies, you… Read More »
