Tag Archives: Fort Myers Estate Planning Lawyer
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 »
Can My Florida Trust Be Modified After I Die?
Generally speaking, if you create a revocable living trust as part of your estate plan, the trust becomes irrevocable upon your death. In other words, your successor trustee cannot unilaterally modify the terms of the trust. In some situations, however, a Florida probate court can “modify the terms of a trust” if it is… 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 I Take Money Out of My Child’s Custodial Account?
We recently discussed the Florida Uniform Transfer to Minors Act (FUTMA), a state law that addresses situations where someone wishes to leave a gift of money or property to a minor. Under the FUTMA, the gift is turned over to a custodian–typically the minor’s parent or legal guardian–who holds the money or property on… Read More »
What Happens to My Florida Estate If I Have No Estate Plan or Living Relatives?
If you fail to create an estate plan during your lifetime, there is a chance that your property will be turned over to the State of Florida upon your death. The legal term for this is “escheat.” Under Section 732.107 of the Florida Statutes, “When a person dies leaving an estate without being survived… Read More »
I Already Have a Power of Attorney? Do I Also Need a Will?
When it comes to Florida estate planning, many people look for shortcuts. They do not appreciate the fact that different legal documents cover different situations. For example, some Florida residents think that they do not need a will or trust because they’ve already given a family member a power of attorney, and that will… Read More »
What Are the Surviving Spouse’s Rights in the Family Home?
Normally a Florida resident is free to dispose of his or her property through a will as they see fit. But there are special rules that apply to a person’s primary residence or “homestead.” The Florida Constitution actually restricts the “devise”–or transfer by will–of a homestead if the owner has a surviving spouse or… 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 »
What Happens If My Heirs Die Before Me?
A Florida estate plan is just that: a plan. A will or trust is designed to instruct your fiduciaries on how to distribute your property in the event of your death. A good estate plan must also anticipate certain contingencies, such as the possibility your designated beneficiaries or heirs will pass away before you…. Read More »
How Do I Dispose of Specific Items in My Florida Will?
A common problem many people have when drafting a Florida will is deciding how to divide up individual items of personal property. We are not necessarily talking about high-value assets like automobiles or jewelry. We all keep certain items more for sentimental reasons than financial value. But does it make sense to individually list… Read More »
