Category Archives: Estate Planning
How Bankruptcy Can Affect Your Florida Probate Estate
In many ways, probate administration and bankruptcy are similar legal processes. Both involve creating a legal “estate” for an individual’s assets. These estates may have legal rights and interests that conflict with that of the individual. And both types of estates are subject to claims from the individual’s creditors. Florida Estate Liable for $133,000… Read More »
Should I Set Up a Trust for My Pet?
For many Florida residents, their top estate planning priority is providing for their spouse or children. But what about pets? After all, it is not unusual for an animal to outlive their human master. Indeed, certain common pets such as parrots can live for decades. So what is the best way to ensure your… Read More »
Does It Matter If My Power of Attorney Is “Durable”?
Not all powers of attorney are created the same. Under Florida law, there is a special type of document known as a “durable” power of attorney. What makes this different from a regular power of attorney? The answer has to do with the capacity of the person signing the power of attorney–or more precisely,… Read More »
Where Is a Trust Located?
There are many decisions you need to make when creating a trust. One of the more critical ones is deciding the trust’s location or “situs” for legal purposes. In other words, what state will have jurisdiction over your trust and its property? For many Florida residents, that should not be a difficult question. If… Read More »
How a Defective Deed Can Lead to Probate Problems Later
One goal of estate planning can be to reduce the size of your probate estate. For example, you might decide to transfer your house or other valuable property to a trust before your death. This way the house is not considered part of your probate estate, although it may still be treated as your… Read More »
Do I Have to Leave My House to My Spouse or Children After I Die?
As a general principle, you are free to distribute your property as you see fit via a will or trust. But in Florida law, there is a critical exception for “homestead” property, i.e., your primary residence. Article X of the Florida Constitution provides special protections and restrictions on homestead property. The protections include an… Read More »
What Happens If Someone Dies While in Bankruptcy Proceedings?
One estate planning scenario you have probably never considered is death and bankruptcy. In other words, let’s say you file for bankruptcy protection but suddenly pass away while the case is still pending. Does the bankruptcy case die with you? And what happens to your estate? Chapter 7 vs. Chapter 13 Bankruptcy Cases To… Read More »
Estate Tax Poised to Be Significant Issue in 2020 Elections
The federal gift and estate tax is one of those estate planning issues that remains a source of perpetual political debate. Although the vast majority of Florida residents will never even have to think about potential estate tax liability, politicians on both sides continue to push proposals to either expand or eliminate the tax…. Read More »
Have You Thought About Passwords as Part of Your Estate Planning?
When most people think about creating an estate plan, they consider tasks like drafting a will or signing a power of attorney. But here’s one critical step you probably would never associate with estate planning–keeping track of your passwords. And even more importantly, making sure your future personal representative or agent can access those… Read More »
How Florida Law Prevents Killers from Inheriting Their Victims’ Estates
How many times have you watched a TV crime drama where someone murdered the victim so the killer could inherit the estate? In real life, it is not that simple. In Florida, there is a law commonly known as the “Slayer Statute,” which basically says you cannot “unlawfully and intentionally” kill someone and then… Read More »
