A familiar term often used in estate planning discussions involves a "TOD" or "POD" designation. These abbreviated designations of "Transfer on Death" and "Pay on Death" and are usually used in the context of certain financial accounts such as checking,savings, or...
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Month: July 2016
Does my Living Trust need a Tax Id. Number?
When estate planning lawyers set up a Living Trust for a client, they should advise the client to take steps to transfer their assets--such as bank accounts--into the Trust. This process is called "funding" the Trust. Often when funding the Trust, a client will be...
What is an “Incontestability” Provision of a Life Insurance Policy?
Many states, including Florida, have laws which require life insurance policies to become incontestable after a period of time. As a result, most life insurance policies have a provision entitled "Incontestability." So what does this mean? An incontestability...
Getting Away with Murder? Not under Florida Probate!
Like many states, Florida's probate code includes a "Slayer Statute" located at Section 732.802, Fla. Stat. This statute provides that persons who intentionally kill, or procure the killing, of another person may not receive benefits under the deceased person's Will....
