Estate Planning Considerations for Incarcerated Individuals
If you are preparing for or are currently incarcerated, the future may be uncertain right now. Proper estate planning may ease some of the worries you are facing. Regardless of how long your incarceration is for, we are here to...
Do I Have to Leave Anything to My Children?
One common storyline in Hollywood movies is the rich father disinheriting the family outcast. The story usually traces the child’s attempts to win the father over and be considered a part of the family again. But can fiction imitate reality?...
All in the Family: Making Sense of Per Stirpes, By Representation, and Per Capita Distributions
“That’s not fair!” In many households, this is the common refrain of children as they advocate for themselves or express what they feel to be unjust. This pursuit of fairness, however, is not limited to arguments between parents and young...
Defining “Fair Market Value”: The Case of Wilburn v. Mangano
When reading through a will or trust agreement, you may see language that grants a right to an individual to purchase certain property from the estate or trust at “fair market value.” At first glance, this phrase may seem a...
How to Choose a Trustee
When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide...
Closing Accounts That Are in the Deceased’s Name
As mentioned in our previous blog posts, as a personal representative of an estate, you are liable for closing the decedent's different accounts. This can include turning off cable television service and phone service to closing bank accounts and selling...
Becoming a Personal Representative of an Estate When There’s No Will
Many decedents pass away with no estate plan along with not legally selecting an executor to handle their final affairs. These affairs can include but are not limited to: Closing Accounts, Distribution of Assets and Property, and Attending Probate Court....
What is the Role and Responsibilities of a Personal Representative?
Before you take over in the Personal Representative role of a decedent's estate, it is helpful to become familiar of what this will entail. The Personal Representative is an appointed person within the will who oversees the process of executing...
Key Florida Probate Deadlines
The following chart portrays the frequent Florida probate deadlines that beneficiaries and creditors should be aware of to protect their interest in a decedent's estate.
Exempt Property Under Florida Probate Code
The Florida Probate Code provides that a surviving spouse or child may have the right to receive a share of the estate free from creditors. This is better known as “exempt property” in the state of Florida, and found under...