People across the U.S. are eager to return to a sense of normalcy and look forward to a fun summer after an especially tumultuous year. Families will be traveling to Florida for a vacation; stores will be opening up; residents will be getting together with neighbors...
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Month: May 2021
Why do you need testamentary capacity when creating a will?
Florida residents who want to craft a will need to have testamentary capacity to do so. If they lack this necessary attribute, their will may be contested upon their death. Understanding what testamentary capacity is can help to explain why it's mandated by the state...
Can alimony payments be deducted on your income tax return?
One major issue which must be addressed in a Florida divorce involves alimony. In simple terms, alimony is money paid by one ex-spouse to the other to assist with that person’s support and living needs after the divorce. Prior to December 31, 2018, alimony payments...
Lifetime Gifts: Do They Satisfy Gifts Made in a Will?
When an asset devised in a Last Will and Testament has been gifted to the beneficiary during the decedent’s lifetime, an ademption by satisfaction may occur. The concept of ademption by satisfaction is that a lifetime gift to a beneficiary may satisfy a gift to that...
Intestate Estate: Which Children Will Inherit and Who Gets Left Out?
When a person dies without a Last Will and Testament in Florida, he or she is said to have died “intestate.” The decedent’s estate is then distributed according to Florida’s intestacy statutes as set forth in Sections 732.101-732.111, Fla. Stat. In simplest terms, the...
Probate and TOD accounts
The long waits and expenses associated with probate court often motivate Florida residents to seek methods for sidestepping the whole process. A transfer-on-death account presents one of those options for brokerage accounts holding stocks, bonds, and mutual fund...
Probate litigation 101: What if I disagree?
Probate is the court process that oversees the distribution of an estate’s assets. A judge generally supervises the probate process. After paying off debts, the person administering the estate, often referred to as the executor, will distribute the remaining assets to...
Should you disclose joint assets?
The death of a family member or other loved one can be emotionally charged. In addition, Florida probate administration can be a complicated endeavor. There are situations in which a family member or other loved one might obtain full ownership to assets jointly owned...
What can I do when I think a will is wrong?
Probate is the formal legal process where the court recognizes a will. It involves the court naming an individual or institution to administer the estate as directed by the will. This representative or executor must account for all assets and debts of the estate...
