The world lost a great comedian and actor when, in 2014, we learned that Robin Williams took his own life. Now, the Robin Williams estate is being “probated” and we find that his 3rd wife is at odds with his adult children from a prior relationship. Are we surprised? “Not at all” say most probate litigators. Here are 5 things to learn from the Robin Williams Estate.
On Jan. 5 2015, Florida became the 36th state to permit same-sex marriage.While this is a momentous victory, it comes with a new set of concerns for the happy couple. As with any marriage, once the ceremony is over, the couples must plan for the future. Being able to legally marry your partner is simply one aspect of the law.
Estate planning can be complicated and taxing, to say the least, and those who go about it alone may find that a single mistake can have big effects. Minor problems might only result in some unnecessary expense or delayed inheritance for the heirs. Other mistakes, however, will waste unnecessary millions in estate taxes or even cause the estate to be passed to unintended heirs! Below is a list of some common problems encountered.
President Obama wants to change the US Estate tax, after MAJOR and significant changes to the estate tax were made by his predecessors. What does all this mean to US taxpayers and business owners?
Having a disabled child may mean your estate plans differ from that of other parents. For the parents of disabled children, estate planning is important. Experts note that one of the biggest mistake parents make is waiting to long to set up necessary trusts for their child to transition into adulthood, as seamlessly as possible. It may be hard to think about, but select a guardian. A guardian is necessary if your child either has not reached the age of majority, or may require assistance / lack the skills to live independently.
Billion$ in “TOD” Florida Bank Accounts What does “TOD” mean on a bank account? We have previously written about TOD accounts and Florida POD accounts. Now, let’s update this important Florida probate topic by giving you a link to two important Florida statutes + also a 2105 Florida probate opinion you can read for free. Here is the link to previous Florida TOD commentary: https://www.pankauskilawfirm.com/blog/avoid-probate-in-west-palm-beach-through-trusts-life-insurance-and-other-non-probate-assets-learn-how/ Transfer on death typically means that the named individual on the bank account inherits it automatically, by operation of law, when the other co owner dies. Securities such as stocks and bonds and interests in Florida LLCs may be the subject of transfer on death ownership. Florida Transfer on Death Security Registration Act TOD Law in Florida A 2015 Florida probate case about TOD accounts and pay on death accounts sheds like on these “will substitutes.” 2015 Florida TOD Probate Case When someone dies all his or her assets don’t necessarily go to the same place! And sometimes special bank accounts do not need to be probated. The good news is that Florida has TOD laws and Pay On Death Statutes which you can read for free. Florida Statutes on TOD and Pay on Death Accounts Do not just assume the probate property is the extent of your relative’s estate. Now more than ever, people are setting up bank accounts and investment accounts with a “designation of beneficiary” to transfer on death (TOD). The beneficiary is the person to whom the asset will transfer after the […]
It comes as no surprise that often a will or trust may be contested. Will and trust disputes frequently take years and add mountains of fees to the cost of administration. For some, a “no contest clause” may seem like an easy solution, but not in Florida. Here is a quick run down on no contest clauses:
This week the Palm Beach Circuit Court struck down a Florida law that would invalidate non-resident’s probate of their estate. Earlier this week I wrote about Florida’s recent adoption of same sex marriage and the various legal issues that are on the rise. Here is just one example of how the law has to adjust to the times.
There are numerous ways that a will can be contested in the State of Florida, but one of the main reasons a will could be challenged is if the “testator“, the person who signed the will, did not have “testamentary capacity” to sign a will in Florida.
One of the most common questions we get asked by our clients is “what happens to someone’s debt when he or she dies?” More and more heirs of Florida inheritances are finding themselves overcome with debt from devalued properties, credit card bills, and other sources. Palm Beach probate litigation attorneys know that the proper method for dealing with debt after death is largely individualized and relies heavily on how Florida Probate law treats the specific type of debt, and estate asset the heirs are dealing with.