Building Your Brighter Tomorrow With Proven Immigration And Estate Planning Strategies
With each life event, you plan and prepare. You plan for a wedding when you get engaged, prepare a resume when you graduate college, create a retirement plan while in your career, research neighborhoods and schools when you have children and plan for retirement as you reach age 65. Much thought and consideration go into…
Administering an estate is often more complicated than people realize. You have to inventory the estate, contact creditors, pay debts, handle final expenses, complete accountings, and ensure that assets are properly distributed. Yet, matters can be even more complex if the individual who passed away owned assets in other countries. If you’re administering an estate…
When it comes to setting up an estate plan in Florida, you are probably familiar with some of the more common documents, such as a will or power of attorney. However, you may have heard of something called a living will and wonder what it is and if it is different from a regular will…
When a person passes away with a will, it must go through probate. Probate is the process where a deceased person’s assets are distributed and their debts are paid. For property owners, there is a lesser-known process called ancillary probate that is helpful to understand. Ancillary probate Ancillary probate is the legal process that is…
When an estate goes through probate in Florida, one party has to be responsible for certain estate administration tasks. If the deceased person left a valid will, they appointed a personal representative to oversee the administration. (In other states, this role is known as an executor. Florida uses the term “personal representative.”) If they did…
Probate is essentially the supervised legal process for closing out the estate of the deceased according to the laws of the state in which they resided. In Florida, there are two main types of probate, formal and summary administration, and there is also a process called disposition without administration. The latter two pertain to small…
Serving as a trustee can be an honor, but it can also be enormously stressful. After all, you’re tasked with putting the financial interests of others ahead of your own, and when it comes to money, every minor misstep is placed under the microscope. While most trustees are able to carry out their fiduciary duties…
Estate plans are meant to give clear guidance as to how assets are to be distributed upon death. While many estate plans are very clear and there is little dispute as to their validity, issues can still arise during the administration of the estate. For example, beneficiaries of a trust can have disagreements with a…
A last will and testament may seemingly reflect the deceased wishes, but family members, business partners, and others could be unhappy with its text. In Florida, laws exist to establish a process for contesting a will. Disagreeing with the deceased’s wishes won’t be enough, though. There must be a legitimate basis for the probate court…
Florida residents with assets or property to their name should look into creating a will or trust to ensure that their assets are delivered to the right people after they pass away. As part of this process, a person needs to select someone to be an executor for the will or a trustee for the…
