Entrepreneurs in Florida must plan their personal estates to account for their public businesses. Different industries have different laws, but the business itself or its assets can be protected in your estate. Your wishes regarding who leads your business and how...
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Joint tenancy and avoiding probate
Many individuals, especially married couples, possess assets such as real estate and securities as JWROS, or "joint tenants with right of survivorship." When it comes to estate planning, the JWROS arrangement dictates that if one spouse passes away, the other spouse...
Probate: When is it necessary?
Residents of Tampa and other areas of Florida may want to learn more about what situations make probate necessary. Laws vary from state to state, but Florida has a streamlined process for estates under $75,000. Estate planning is easier with a knowledge of 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...
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...
How a will helps you in the long run
Estate planning is crucial if you want to ensure that your wishes are carried out in regard to your property when you pass on. At the heart of an estate plan for many people in Florida is the drafting of a last will and testament. There are a number of ways in which a...
What are non-probate assets?
Non-probate assets are properties that bypass the probate process in Florida, which includes retirement accounts like IRAs and 401(k)s. Life insurance proceeds are also non-probate assets. All properties that are held in a living trust and funds in a payable-on-death...
What slows down the probate process?
While the probate process in Florida often goes smoothly, certain situations can cause delays. Not having an estate plan or having an unclear estate plan can cause conflict between family members. Even if the person has prepared a will, it could be contested. In some...
Should you revise your will when you move?
If you've recently moved to Florida, take some time to update your estate plans. According to U.S. law, your will doesn't have to be written in your state of residence to be declared legally valid. However, every state has different rules for estates and inheritances,...
When does someone make changes to a will?
Not every person takes steps to draw a will or take part in other estate planning steps. Failing to do so might rank among the most common estate planning steps to make since estate assets' distribution then falls under Florida's intestate laws. The result might not...
