Category Archives: Estate Planning
Judge: Blindness No Excuse for Not Understanding Trust Before Signing It
It normally goes without saying that you should never sign any legal document, particularly an estate planning instrument like a will or trust, without reading it first. But what if you are incapable of reading the document? For example, what about a person who is legally blind? In such scenarios, it is critical that… Read More »
Can a Trustee Go to Jail Over Their Handling of a Trust?
Disputes over the handling of a loved one’s estate are not uncommon occurrences. What is uncommon is for a person to go to jail over such disputes. Yet this is exactly what happened recently to a 73-year-old Navy veteran from Michigan. According to a January 3, 2020, report in the Detroit News, Fred Smith… Read More »
How the New SECURE Act May Affect Your Retirement, Estate Planning
A key part of estate planning is making provisions for your retirement accounts. For example, if you have an IRA, you need to name a beneficiary who will receive benefits upon your death. If you are married and name your spouse as beneficiary, they can effectively treat the inherited IRA as their own and… Read More »
What Is a Codicil?
You may have heard the word “codicil” used in connection with a last will and testament. For example, many wills contain language that state they “revoke all former will and codicils.” But what exactly is a codicil–and more importantly, is it something you need to include in your own estate plan? A codicil is… Read More »
How Often Do I Need to Revise My Estate Plan?
Many Florida residents treat estate planning as a one-time affair. They think that once they have made a will and signed a power of attorney, they never need to think about estate planning again. But in practical terms, this makes little sense. After all, your family and financial situation does not remain static throughout… Read More »
Can Another State Order My Executor to Sell My Florida Home?
One of the cardinal principles of probate in the United States is that it a state-specific process. That is to say, when a Florida resident dies, their estate is subject to probate in Florida, at least with respect to any property that is located or situated within this state. If a Florida resident owns… Read More »
Recent Twitter Uproar Highlights Problem of Deceased User’s Accounts
Twitter recently faced criticism from its users after the social media network revealed plans to delete accounts that had been inactive for at least six months. As National Public Radio noted, the announcement “sparked a mass panic” from users who “returned to the platform for the sole purpose of saving their accounts.” But there… Read More »
Are There Assets You Cannot (or Should Not) Put Into a Revocable Trust?
A living trust allows you to keep certain assets out of the Florida probate process after you die. But there are certain assets that, for one reason or another, cannot or should not be placed into a living trust. Here are some examples. Retirement Accounts If you have a 401(k), 403(b), IRA, or qualified… Read More »
Why Did President Trump Change His Residence from New York to Florida?
President Donald J. Trump recently announced he was becoming a Florida resident. Although Trump has long been associated with the Sunshine State through his ownership of the Mar-a-Lago club in Palm Beach, the 73-year-old is arguably one of New York State’s most famous residents. And given that Trump spends most of his time these… Read More »
What Types of Assets Can I Place in a Florida Trust?
In estate planning, we often assist clients with creating revocable trusts. This is a legal device that allows you to retain control over your assets during your lifetime. But after you die, the assets remain in trust under the control of a successor trustee. Trust assets do not pass as part of your probate… Read More »
