On behalf of Cynthia I. Waisman, P.A. | Feb 20, 2020 | Estate Planning
In Florida, a Trustee has an ongoing legal obligation to inform the Trust beneficiaries of the administration of such trust. The Trustee must keep accurate records of all the income, disbursements and expenses of the Trust. Those records should be kept in a safe...
On behalf of Cynthia I. Waisman, P.A. | Feb 20, 2020 | Estate Planning
Many parents or other relatives set up special accounts for minor children at financial institutions called UMTA accounts. These are a way to save for a child’s future and sometimes have tax advantages for the donor. The donor then becomes the custodian of such...
On behalf of Cynthia I. Waisman, P.A. | Feb 20, 2020 | Estate Planning
In Florida, a personal representative, also sometimes called an administrator or an executor is authorized to receive a fee for their services in handling an estate. In family based estates, sometimes the personal representative will elect to waive their fees. The...
On behalf of Cynthia I. Waisman, P.A. | May 3, 2019 | Estate Planning
Estate plans and wills come in all different shapes and sizes. Some are relatively straightforward because there was one spouse and one child, while others will be more complicated because there was more than one marriage with several children and stepchildren...
On behalf of Cynthia I. Waisman, P.A. | Jan 29, 2019 | Estate Planning
Wondering about your parent’s financial situation, and how their finances may one day help or hinder you, can feel awkward. People may expect an inheritance to help cover the care they have provided their parents. Others may assume any money left will naturally be...
On behalf of Cynthia I. Waisman, P.A. | Nov 1, 2018 | Estate Planning
Selecting a trustee is an extremely important part of a Trust, and may have tax consequences. Almost anyone can be named as your trustee. Unlike the appointment of a personal representative of a probate estate, a trustee is not required live in Florida or be related...
On behalf of Cynthia I. Waisman, P.A. | Nov 1, 2018 | Estate Planning
Acting in the role of a trustee is not an easy position. The specific powers and responsibilities depend on the instructions in your trust documents. Although important, the prudent investment of trust assets is not a trustee’s only responsibility. Generally, a...
On behalf of Cynthia I. Waisman, P.A. | Apr 2, 2014 | Estate Planning
Who qualifies as the Personal Representative? The Personal Representative can be selected in several ways. Where there is a valid Will, the a person is appointed in the Will to act as Personal Representative. The Court usually follows this provision, unless they have...
