Category Archives: Trust Administration
Why Does It Matter if an Individual or Charity Is a “Qualified Beneficiary” of a Florida Trust?
When you create a trust, you typically name one or more beneficiaries who are entitled to the trust’s income or principal. Under Florida law, the trustee must subsequently keep any “qualified beneficiaries” of the trust “reasonably informed” of the trust’s administration and activities. For instance, the trustee must provide each qualified beneficiary with a… Read More »
Can You Trust Your Children With Your Trust?
Creating a trust quite literally means trusting someone to administer the trust’s assets in accordance with your instructions. Many Florida residents trust their family members to serve as faithful trustees. But unfortunately, there are cases where a family member breaches their duty to the trust–and other family members–and misappropriates the trust’s assets for their… Read More »
What Is a Charitable Remainder Trust?
Trusts serve many functions in estate planning. One is to ensure assets do not go through probate after a person dies. But trusts can also help you save on your taxes while you are alive. A good example of this is a charitable remainder trust, which is a special type of estate planning trust… 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 »
Do I Need a Florida Estate Planning Lawyer to Prepare a Florida Trust?
Many people come to Florida from somewhere else. If you have relocated to Florida recently, it is a good idea to consult with a local attorney to revise your existing will or trust. Although out-of-state estate planning documents are generally valid in Florida, if you do need to make any changes, it is important… Read More »
Answers to Common Questions About Taxes and Your Florida Estate or Trust
When it comes to Florida estate planning, we often think about questions like, “Who will take care of my children?” or “Who will inherit my property?” We usually do not think about some of the secondary legal issues that may arise in the course of administering our trust or estate, such as, “Do I… Read More »
How Do I Challenge the Validity of a Will in Florida?
There are a number of situations where a party may need to contest the validity of a Florida will. One legal tool that a party may use to protect its interests is the filing of a “caveat.” This is essentially a notice filed with the probate court reserving the right to be notified if… Read More »
Who Is Considered a “Spouse” Under Florida Inheritance Laws?
Dying without a will is never a good idea, as Florida law will dictate the disposition of your probate estate. While this may initially sound like an easier way of settling your affairs, there are many potential legal disputes that may arise in an intestate estate. Having a will allows you to state definitively… Read More »
How Florida’s “Slayer Statute” Can Affect Your Estate Plan
In the normal course of events, when you die your property passes as directed by your Florida will or trust. The courts will typically not second-guess your estate planning choices. If you want to leave a greater share of your estate to one child–or give your spouse everything and your adult children nothing–that is… Read More »
How Ancillary Probate Affects Your Florida Property
Many people use Florida as a second home–perhaps maintaining a vacation property in the Fort Myers area–while continuing to reside full-time in another state. So how do you dispose of your vacation home under Florida law? Is your out-of-state will valid here? Do you need to create a separate will? Are there special rules… Read More »
