When a Florida resident dies, one of the first steps which needs to be accomplished is to determine whether the decedent’s assets will need to go through probate. This article briefly discusses situations where probate does NOT apply. 1. Assets with a beneficiary or...
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Is your elderly relative struggling with money management?
Your parents have managed their money since early adulthood. Over the years, they’ve made significant purchases and even run their own companies. You’re used to them being independent, and that’s what they are used to as well. Unfortunately, age is something that...
How can you avoid probate in Florida?
In Florida, probate is a court proceeding where the estate of a deceased person is administered and distributed to the decedent’s beneficiaries. Typically, filing probate involves hiring an attorney who prepares certain required paperwork which is then signed and...
Aging alone may compromise your wishes in a medical emergency
Aging alone is not a new phenomenon but is much more prevalent today than it was several decades ago. More people than ever never get married, and many who do decide not to have children. Other times, someone ends up alone due to the death of a spouse or family...
Six Essential Estate Planning Documents You Should Have
In most Florida estate plans, there are six essential documents which you should have in place. These include the following: Last Will and Testament. This document allows you to appoint a Personal Representative to oversee your probate estate and to designate your...
Affidavit of Agent under a Durable Power of Attorney
A Durable Power of Attorney (“DPOA”) names you as agent or attorney-in-fact to act for the person who executed the DPOA (the “Principal”). You go into a bank intending to transact some business on behalf of the Principal and when you present the DPOA, you are told...
What makes a Durable Power of Attorney “Durable?”
In our estate planning practice, we regularly have clients sign a document titled “Durable Power of Attorney.” So, what is a Durable Power of Attorney? First and foremost, as a Power of Attorney, it is a legal instrument which a person, the principal, can sign...
Who may witness the signing of a Will in Florida?
In Florida, in order to be valid and enforceable, a Last Will and Testament must be signed by the person establishing the Will. The execution must be completed in the presence of two attesting witnesses. Sometimes the question arises as to who may serve as a witness...
Does a Will or Trust always control distribution of your assets?
We often have clients ask the question whether a Will or Trust always controls the distribution of their assets. The fact of the matter is that they do not always control. Here are two categories where neither the Will nor a Trust would govern distribution:...
Can a nonresident of Florida serve as agent under a Florida Durable Power of Attorney?
When working with clients, we are often asked who can serve as agent under their Durable Power of Attorney. Often the reason for the question is that they want to know if a nonresident of Florida can be designated. The short answer is that a nonresident person can be...
