Search Results: beneficiary rights

Understanding Spousal Inheritance Rights in Florida In this section from his book, “Pankauski’s Probate Litigation: Top 10 Estate Mistakes Revealed”, John Pankauski explains dealing with inheritance claims from a former spouse. Enemy of the Estate: Your adult children hate your latest spouse and all your exes, if they aren’t their own parents. Mistake: believing your last spouse and kids won’t fight over money Our probate law firm is mired in family fights. We often say we fight over blood and money. When we speak of blood, of course, we’re talking about the family relationship itself. There’s rarely actual bloodshed involved. This and the money and property seem to be the common threads of a probate litigation practice. Add a new or latest spouse to the mix and you’re almost guaranteed a good brawl. America loves divorce and multiple spouses. Somehow, those marriage vows of staying together in sickness and in health, swearing, “’til death do us part,” take a back seat later on, after you step off the alter. This might explain why half of US marriages end in divorce. Even the divorce attorneys are divorced. And – even after kids and a first marriage – some are creating “second families,” with their second or third spouses. In Palm Beach, we see second and third spouses who are younger than their mate’s adult children from a first marriage or prior relationship. Step parents and step children don’t get along to begin with: do you think they’ll ever get along when money […]

Widows Get Guaranteed Inheritance from Florida Probates Perhaps one of the biggest probate litigation issues in Florida is the rights of surviving spouses, or widows. Why is that? Florida probate law, or, perhaps the public policy of the Sunshine State, give husbands and wives almost a special treatment under the law. And this special treatment can be worth millions and millions of dollars. So, if you are a spouse, or a widow, and you survived your last husband or wife, you may be entitled to inherit a LOT of money, IRAs, retirement account, Homestead property, real estate and bank accounts. Even if there is a will which dis-inherits you. Why? Because Florida probate law gives you, a spouse, certain preferences and guaranteed inheritances. 2nd & 3rd spouses. So, in Florida prenuptial agreements are very popular. Many estate planning attorneys from Boca Raton to Orlando write prenuptial agreements which usually, or typically, waive a spouse’s inheritance rights, among other things. I can’t tell you how many probates we have been involved in where a 2nd or 3rd spouse is “fighting” with the adult children from a prior marriage or relationship of a deceased Florida resident. Yes, not surprisingly, adult children don’t like the man your mother marries for the 3rd time, or they don’t like the woman your father marries for the 2nd or 3rd time. Hey, the feelings are probably mutual, right? Whether there is a prenup or not, step children and step-parents do “battle” in probate court when there […]

If you are a beneficiary of a Florida trust and about to receive your inheritance,   you may be wondering what all the paperwork is that the trustee’s law firm is sending to you.  After all, you just want  your check for your inheritance, right?  Well, the Florida Trust Code is loaded with rights that beneficiaries have to a host of issues related to trusts, the trustee and trust administration. http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0736/0736ContentsIndex.html&StatuteYear=2015&Title=%2D%3E2015%2D%3EChapter%20736.  Let’s talk about one right of a trustee: to be discharged or released from liability for serving as trustee.  Ask any trust lawyer in Florida and they will tell you that this issue is one that is often mis-understand and not, often, well explained.

A Broward County, Florida conviction for financial exploitation of an elderly person was overturned, or reversed, on June 24, 2015 by Florida’s 4th District Court of Appeal. In this Florida financial exploitation case, the husband of an investment firm employee had been convicted but sought acquittal.

Estates and trusts with charitable beneficiaries routinely seek to employ   the IRS Code Section 642(c) charitable set aside deduction for income earned by the estate and trust that will eventually (but not in thecurrent tax year) be distributed to the charitable organization. This deduction is needed when the income cannot be currently distributed, since in that case neither a distribution deduction nor a charitable deduction would otherwise be available. Oftentimes, income cannot be currently distributed because it is too early in the administrative process to distribute to the beneficiary, especially when the beneficiary is a residuary beneficiary. A recent case out of the US Tax Court (a Federal Court) has changed the modern application of this rule slightly and those involved in Florida Probate should take note and consult an experienced Florida Probate Attorney.

Is the trustee of your trust behaving badly?  What rights does a trust beneficiary have?  Before you go to church to pray, consider some pointers about dealing with a trustee who is not nice. What do I do if my trustee is ignoring me?

While most people list an individual person or trust as beneficiary to a life insurance policy, there are several ways that the proceeds from your Florida life insurance policy will be paid to your estate.  For example, if your listed beneficiary dies before you, you fail to list a beneficiary, or you list your estate as the beneficiary, then the life insurance will be an asset of your estate after death.

If you are a Florida widow or a surviving spouse of someone who just passed away in Florida, you have a GUARANTEED INHERITANCE.  There is a new video on Palm Beach probate which talks about your GUARANTEED survivor rights as a Florida widow or spouse.  Here is a Florida probate video which you can watch for free online about survivor rights to Florida probates, including the guaranteed survivor rights of a widow or wife or husband under Florida estate law: https://www.youtube.com/watch?v=HwB4ySmvS4A&feature=youtu.be What are my rights as a widow under Florida probate law? Palm Beach probates provide very valuable inheritance rights for widows and wives and husbands who survive Under the Florida probate code, a spouse can automatically inherit 30-50% of the Palm Beach estate depending on a number of factors such as Was there a Florida will? Did the Florida will leave you out?  Cut you out? Disinherited? Did the Florida will leave everything to someone else like an old spouse or a different beneficiary? Did your husband or wife forget to change the will? Are all his assets in joint accounts or survivor accounts?  Pay on death?  Do you know how to get those ? If there is not will, you can still inherit 50% or half of the Boca Raton estate. Delray Beach probate lawyers know that it doesn’t (necessarily) matter what the will or the Boynton Beach living trust says.  Widows get a guaranteed inheritance in Palm Beach estates! Unless you waived your estate rights or signed a […]

If you are involved in a Palm Beach trust, either as a trust beneficiary or a  trustee of a family trust, you may want to read this VERY RECENT case on Florida trust accountings.  This legal opinion came from the Palm Beach appeals court: the 4th District Court of Appeal which sits in West Palm Beach, Florida.  Anyone involved in litigation trusts Palm Beach can read this opinion online for free.

What if the Florida will gives the entire estate to a son, but there is a creditor of the estate?  Who inherits? Family or creditor?  Creditor rights is an interesting and important area of Florida probate law; just ask any estate litigator Boca Raton.  If you are a creditor of a deceased person, or you areinheriting money from a Palm Beach probate and wonder whether you get paid before some big creditor, consider watching a new, free Florida probate video on Florida estate creditors.