The revocable, or “living,” trust in Florida is often promoted as a means of avoiding probate and saving taxes at death. It is governed by Chapter 736 of the Florida Trust Code (Florida Statutes). As any Florida Probate litigation attorney West Palm Beach will tell you, the revocable trust in Florida has certain advantages over a traditional will. However, there are many factors to consider before you decide if a revocable trust is best suited to your overall estate plan:
Dr. Robert Schwartz is the son of the late DC Comics founder Jake Leibowitz and his wife Shirley. When Shirley passed away, Schwartz, being her only son, expected to inherit the majority of his mother’s $50 million estate. However, in actually, he will only see approximately $3 million of that estate.
Many West Palm Beach Probabe attorneys and estate planners describe Qualified Personal Residence Trusts (QPRTs) as a “must have” estate planning opportunity in Florida.
Our firm is currently handling what has become a lengthy probate litigation over the estate of a man who passed away “intestate” in Florida, that is, without a will. When a loved one dies without a will, many of the wishes of the decedent remain unknown, and the inheritance of their estate usually ends up being decided by a court. That is why having a will in Florida Probate Law is so important.
A guardian is an individual or institution (such as a nonprofit corporation or bank trust department) appointed by the court to care for an incapacitated person – called a “ward” in Florida.
Although we all would like our of our assets to be dispersed wholly to our loved ones once we pass away, in some instances, however, creditors will have a claim on your Florida estate.
On New Year’s Day, Florida federal district judge Robert Hinkle, who earlier had overturned Florida’s ban on same-sex marriages, ordered all county clerks to begin issuing same-sex marriage licenses beginning Tuesday, January 6, 2015. Prior to his order, there was confusion over which clerks were allowed to issue the licenses. But on January 1st, Hinkle clarified that his ruling applies to ALL counties.
On this blog we frequently discuss what problems can occur during the process of estate administration in Florida. But what are someways you can prevent problematic issues from occuring before the estate administration process? One of the most important things you can do is to discuss your estate plans with the people whom you wish to include in your estate.
One major concern for those considering creating a trust agreement in Florida, is whether the trust should be arevocable trust or an irrevocable trust. West Palm Beach Estate Planning attorneys get this question all of the time. In reality, however, there is no clear winner when considering anirrevocable trust vs. a revocable trust Florida. Both Florida estate planning tools have significant value, and the right choice for you will often depend on what goals you want to accomplish.
Guardians are appointed to care for people who cannot take care of themselves. The person a guardianprotects is called that guardian’s ward.