Clients sometimes ask this question--often because they are confused about the relationship between their Will and their life insurance policy. After all, doesn't the Will designate a person's beneficiaries? This blog will clarify the relationship between the Will and...
Complex Legal Challenges
Estate Planning
Who has Priority to be Appointed as Personal Representative of an Estate in Florida?
When a person dies and a formal probate estate must be opened in Florida, the probate court will appoint a person to be in charge of the estate administration. In Florida, this person is known as a "Personal Representative." In other states, it is known as an...
How do I access a deceased loved one’s bank account after they’re gone?
Not uncommonly, we have clients come into the office after a loved one has died and ask for some assistance. Their request is often simple...for example: "How do I access Mom's bank account now that she's gone? Her Will says I'm supposed to get it. Can I take the Will...
Selecting a Guardian for Your Minor Children
If parents with minor children die, a Guardian will be appointed to raise and care for the children. Parents have the right to designate who will be appointed Guardian--so long as the parents do so before they die. If they do not, then a court will make the decision....
Use of a Separate Writing in Florida Estate Planning
Florida, like many states, has a convenient statutory provision when it comes to dealing with tangible personal property (items such as jewelry, furniture, keepsakes, etc.) through estate planning. Section 732.515, Fla. Stat. provides: A written statement or list...
The Unfunded Trust–All Dressed Up But the Only Place You’re Going is to Probate!
There's an old expression: "All dressed up but nowhere to go!" This phrase has been interpreted to mean being completely prepared for an event that fails to materialize. This is sometimes true with persons who do a Revocable or Living Trust but fail to fund it. They...
When an original Will is lost or destroyed…don’t panic!
Your father has passed away and after the funeral, you try to locate his Last Will and Testament. You find a photocopy but not the original. You do a quick search on Google and find that in Florida, you need to establish the original Will in order to file a testate...
Establishing a “See-Through Trust” for Your IRA
A traditional IRA is what is considered a "qualified" account. In essence, this means that the account gets special tax treatment---in particular, allowing you to defer taxation until a later date. With these types of accounts, you do not have to withdraw the money...
Protecting Your Special Needs Loved One
Many families struggle daily with the demands of caring for a family member with debilitating health or developmental challenges. Whether it is autism, cerebral palsy, birth defects, or some other debilitating condition, the challenges can be immense. Perhaps one of...
The Dangers of “Do-It-Yourself” Estate Planning
With all of the resources available today online and elsewhere, many people are tempted to try to do their own estate planning. They may find online forms or software at the local office supply store. Alternatively, they might use one of these online services. But is...