When a person dies resident in Florida, a formal probate estate is often required. In a formal probate, the probate court appoints a “Personal Representative.” Some people refer to this person as the “Executor” but the correct name in Florida is Personal...
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Estate Administration
Be Cautious When Using Joint Account Ownership and POD Designations
In our estate planning and probate practice, we often see situations where clients will add a loved-one on to their bank account as joint account owner or will make a “Pay-on-Death” (“POD”) designation. The reason for this is often either for convenience or to avoid...
Is an inheritance taxable in Florida?
In our estate planning practice, we commonly have clients ask “Will I be taxed if I receive an inheritance from a loved one?” In order to answer this question, there are a couple of things that will help you understand how taxes come into play when someone dies and...
Do you know what to do if you’re a personal representative?
Serving as a personal representative is a huge honor. It means that your loved on trusts you enough to give you power over their last will and testament. At the same time, it’s a huge responsibility that can be very overwhelming. If you are named as someone’s personal...
