Category Archives: Trusts
Do I Need to Include My Timeshare in My Will or Trust?
If you’re thinking about creating an estate plan, you probably know it’s important to make provisions for your house or condo. But your estate plan must cover all of your real property. For example, what about that timeshare you bought 15 years ago? Does that also need to be addressed in your will or… Read More »
How Private Is a Florida Trust?
There are many reasons that Florida residents choose to create a living trust as part of their estate plan. One commonly cited motive is the desire to keep their affairs private. But just how private is a Florida trust? Wills vs. Trusts Compared to a traditional last will and testament, a well-drafted trust offers… Read More »
Who Is the “Qualified Beneficiary” of a Trust?
Trust disputes often arise between the beneficiaries of the trust. According to Florida law, a beneficiary is “a person who has a present or future beneficial interest in a trust, vested or contingent, or who holds a power of appointment over trust property in a capacity other than that of trustee.” There is also… Read More »
Is My Revocable Trust Liable for My Personal Debts?
A trust is a vehicle for disposing of your assets without the need for probate after you die. It is, at least in the case of revocable trusts, not a mechanism to shield your assets from creditors. The reason for this is simple: As long as you have the power to revoke the trust,… Read More »
Why Do I Need a Pour-Over Will if I Have a Florida Trust?
You often hear estate planning lawyers–including us–talk about the benefits of using a revocable living trust. The main advantage is that any assets placed in your trust do not need to go through the probate process. That is to say, those assets do not pass under your will, but rather are subject to the… Read More »
5 Legal Duties of a Trustee in Florida
What exactly does a trustee do? This is a question we frequently get when advising clients on creating a revocable living trust. The short answer is that the trustee is the person responsible for managing the trust’s assets. The longer answer is that the trustee is charged with carrying out several legal duties outlined… Read More »
Apollo 11 Hero Buzz Aldrin Sues to Regain Control of Florida Trust
Children often feel an obligation to help care for an elderly parent during their final years. Unfortunately, there are also situations where children may try and take advantage of a parent for their own financial gain. This is why careful estate planning is so important. As the parent, you want to maintain your dignity… Read More »
How Beneficiary Designations Impact Your Florida Estate Plan
There are many aspects of Florida estate planning that go beyond making a will. In fact, you may not realize it but there are some assets that do not pass under your will at all–even if you do not have a separate trust. If you have a retirement account or life insurance policy, for… Read More »
What Are Irrevocable Trusts–and Why Would I Need One?
Whenever you hear estate planning lawyers talk about trusts, they are generally referring to “revocable” trusts. That is, a trust that can be modified or revoked at any time by the settlor, i.e. the person who makes the trust in the first place. Revocable trusts generally serve one critical purpose: to keep the settlor’s… Read More »
Can a Stepchild Inherit From a Florida Estate?
Dying without a Florida will means your probate estate will pass under the state’s intestacy laws. Many people do not see the problem with this. Say you are unmarried and are survived by two children. Under Florida intestacy law, your children would automatically inherit your entire estate in the absence of a will. Sounds… Read More »
