On behalf of Cynthia I. Waisman, P.A. | Jun 8, 2020 | Estate Planning
If a person owns property in Florida, those items may be subject to probate when he or she dies. Generally speaking, probate applies to those who own assets in their own name or who receive wages or other payments after they die. In some cases, it may be possible to...
On behalf of Cynthia I. Waisman, P.A. | Jun 2, 2020 | Estate Planning
Beneficiaries may want to take advantage of high real estate prices to sell the home of their deceased loved one. However, they cannot do that on their own immediately after their family member passes. Instead, the sale must wait until the estate is settled and the...
On behalf of Cynthia I. Waisman, P.A. | May 1, 2020 | Estate Planning
It is possible for a person to pass away prior to paying off a credit card or private student loan balance. If Florida residents owed money to creditors when they die, those creditors may file a claim with the decedent’s estate. Surviving family members...
On behalf of Cynthia I. Waisman, P.A. | Apr 2, 2020 | Estate Planning
When people in Florida go to a bank or an investment advisor to set up a new account, they may be asked about their beneficiary designations. While these conversations often take place outside the estate planning process, they can have a significant effect on the...
On behalf of Cynthia I. Waisman, P.A. | Mar 18, 2020 | Estate Planning
It is possible that Florida residents will have debt when they pass away. However, it is generally not a surviving family member’s responsibility to pay off student loan, credit card or other balances that remain after a loved one dies. Generally speaking, the...
On behalf of Cynthia I. Waisman, P.A. | Mar 6, 2020 | Estate Planning
Some people in Florida may want to use both a will and a trust in their estate planning. A will can appoint an executor and a guardian for minor children. While a will can also be used to pass assets, a trust gives an individual more control over how those assets are...
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. | Jan 7, 2020 | Estate Planning
When a person dies in Florida, a family member or another appointed person will be responsible for starting the probate process. If the deceased individual left a will, the first step in the probate process is to read it. The will may contain important information...
