Category Archives: Estate Planning
What Is an “Elective Share” and What Happens If My Spouse Waives It?
Something all married couples need to think about when making their estate plan is Florida’s “elective share” rule. This refers to a state law that authorizes the surviving spouse to claim a 30-percent share of a deceased spouse’s elective estate–i.e., any property that would normally be disposed of by will or trust. It is… Read More »
Can I Be Held Personally Responsible for a Deceased Family Member’s Debts?
Many of us are at our most vulnerable in the days following a family member’s death. Unfortunately, some debt collectors try to prey upon this grief by contacting these same family members in an attempt to obtain the money they are owed. In some cases, these collectors may try and convince family members that… Read More »
Can a Florida Probate Estate Be Reopened?
Estate and probate administration is usually a straightforward process. The executor of the estate gathers a deceased individual’s assets, pays any final debts and administrative expenses, and distribute any remaining property to the decedent’s heirs or beneficiaries. At this point the estate is then closed with the probate court. Reopening an Estate to Interpret… Read More »
Court Approves Transfer of Former Attorney General Reno’s Historic Miami Home to College
Estate planning is often used as a vehicle to make charitable gifts. For example, perhaps you wish to leave your favorite charity a certain amount of cash in your will. In most cases, the charity will welcome such gifts. But what happens when a charity rejects a gift? This often comes up when a… Read More »
Understanding The Role of Trustee in Selling a House
Living trusts often confuse people unfamiliar with estate planning. Basically, you create a trust and then transfer title to certain property from yourself to the trustee. The confusing part is that you can also serve as the trustee, at least while you are still alive. And as trustee, you can still use or sell… Read More »
Orlando Judge Removes Professional Guardian After Causing Death of Ward
When an adult Florida resident is unable to properly care for themselves, and there is no family member available to act as their legal guardian, a judge may instead appoint a professional guardian. The Florida Department of Elderly Affairs establishes and enforces regulations for professional guardians. Of course, the mere fact that such regulations… Read More »
What Is a Qualified Terminable Interest Property (QTIP) Trust?
There are many reasons a married couple may wish to create a trust as part of their estate plan. In some cases, a trust can offer certain tax benefits. But on a more personal level, a trust can help manage a more complex family situation, especially those involving multiple marriages or children from different… Read More »
Do I Need to Include Intellectual Property in My Estate Plan?
When a famous singer dies, you often hear news reports about the legal fate of their song catalog or other “intellectual property” (IP) rights. Many of us do not consider IP when making our own estate plan. But even if you never became a millionaire writing books or inventing new technologies, you might still… Read More »
Does My College-Bound Child Need an Estate Plan?
For many Florida parents, the relief of watching their children graduate from high school will quickly turn to apprehension as they go off to college this fall. In addition to starting at a new school, these college-bound kids are now (mostly) legal adults. What does this mean in terms of estate planning? Does your… Read More »
How Your LLC May Affect Your Estate Plan
Many Floridians own their own business. But what happens to such business, at least from a legal standpoint, if the owner suddenly passes away? The answer to this question depends greatly on the business’ legal structure and governing documents. Let’s take a relatively simple example. Abigail and Leah decide to start a consulting business… Read More »
