“How often should I come back to see you for a review of my estate planning documents?” This is a question which clients frequently ask us in our estate practice. In order to answer this question, first we should state that there is no one answer that “fits all.” As...
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Must the Trustee of a Florida Trust be a Resident of Florida or be Related by Blood or Marriage?
In our firm’s estate planning practice, we commonly help clients set up a “Living Trust” (also called a “Revocable Trust” or a “Revocable Living Trust”). In this blog, we will simply call it a “Trust.” Establishing a Trust has many benefits, including avoiding probate...
Florida Power of Attorney: Authorizing Super Powers
Under a Florida Durable Power of Attorney (“DPOA”), a principal person may give another person (often called an “agent”) the authority to act for the principal on various personal and financial matters. These may include authority such as selling real estate, paying...
What business owners should know about estate planning
A Florida business owner should be aware that their company is just as much a part of their assets as their home and vehicle. If an owner passes away without planning their estate, the state will decide how the business is divided up. It's important for business...
Include digital assets in your estate plan
When many people think about drafting a will or creating a trust for distributing money, a house or even a business, most only consider those tangible possessions and who will receive them. That’s understandable as estate plans almost always comprised only property...
Understanding the probate process and asset distribution
The reason why the public is encouraged to get their affairs in order before they pass away is so that their assets are distributed according to their wishes. The process of ensuring that each asset makes it to the correct heir is called probate. If all the...
In this COVID ERA: Who can speak for you? Who can act for you?
In this era of COVID-19, many of us have been alerted to the fact that we could become suddenly ill and be unable to speak or act for ourselves. If you are an adult and you become incapacitated, who can speak for you on important issues such as healthcare and medical...
Why a trust may be useful in some estate plans
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...
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....
