When people in Florida are creating an estate plan, they might want to consider using a trust instead of a will as the main vehicle. There can be a number of advantages to a trust. Assets in a trust do not have to go through the probate process, which can take months...
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Month: July 2020
Why and how to create an estate plan
People in Florida should consider creating an estate plan even if they think they are too young for one. Without an estate plan, a court may make a decision about how a person's assets will be distributed along with who will care for their children. A court may also...
Deposit of Last Will and Testament with the Clerk
When a person dies resident in Florida, their original Last Will and Testament (“Will”) must be deposited with the Probate Division of the Clerk of Court of their county of residence. The applicable statue governing this procedure is Section 732.901, Fla. Stat....
Is a Trust the Same Thing as a Will?
In our estate planning practice, we often are asked whether a Trust is the same thing as a Last Will and Testament (“Will”). If fact, many times we hear clients refer to them interchangeably. However, a Will and a Trust are not the same. Understanding their...
Three essential estate planning tools and tips for high-asset plans
One thing that most of the world does not understand is the complications that arise in high-asset estate planning. Most people think that increased assets means nothing more than additional zeros at the end of every figure. This could not be further from the truth....
How to choose executors and trustees
People in Florida who are creating estate plans might wonder who they should appoint for certain roles in a plan, including the executor and trustee if needed. Executors and trustees do not need to be experts in legal issues or finance, but they should have a good...
What is product liability law?
Each year, individuals in Florida and across the United States become injured by dangerous or defective products. Product liability law refers to a set of legal rules that determine who is responsible for creating a dangerous or defective product so the injured party...
Contesting a will in probate court
When a person dies without a will in Florida, that person’s assets will be passed to the person’s spouse and/or family members in accordance with Florida law. When someone does have a will, that will must be filed in probate court before any assets are distributed,...
The purpose of probate and how to avoid it
Assets that are left in a Florida resident's estate after he or she passes may be subject to probate. The goal of a probate proceeding is to validate a will or answer questions as to who has the strongest claim to receive some or all of a deceased person's estate. If...
The High Costs of Procrastination
Let’s face it, doing one’s estate planning isn’t something most people are excited about doing. It’s often easier to put it off and leave it for another day. Most people we talk to about their estate planning admit that it has been something about which they have...
