Many times clients who have a Living Trust ask whether they also should also have a Last Will & Testament. After all, doesn't the Trust do essentially everything without needing the Will? Most experienced estate planning lawyers would agree that the answer is a...
Complex Legal Challenges
Estate Planning
In a Florida Durable Power of Attorney, can co-agents act independently?
In a recent blog, I discussed the difference between naming consecutive or successor agents versus naming co-agents in a Durable Power of Attorney ("DPOA"). A common question we hear when naming co-agents is whether they must act together. Stated another way, if...
Consecutive or Co-Agents: Naming Multiple Persons to Act in a Florida Durable Power of Attorney
An essential document in any Florida estate plan should include a Durable Power of Attorney ("DPOA"). This document allows a person to designate another person or persons to act on their behalf in connection with personal, business and financial matters. A DPOA is...
Does Having a Will Avoid Probate in Florida?
One of the most common misconceptions I run into as an estate planning lawyer is that many people think that if they have a Last Will and Testament in Florida, probate will not be necessary. The reality is that a Will sets forth the deceased person's wishes--such as...
How Can a Living Trust Benefit You and Your Loved Ones?
A Living Trust (also sometimes called a Revocable Trust) is a written document which allows the person setting it up to provide for the holding and distribution of their assets. In effect, a Living Trust is much like a Last Will and Testament in that it designates to...
What is a “Spendthrift” Provision in a Florida Trust?
Most well-drafted Trusts contain a spendthrift provision-also sometimes called a restraint on alienation provision. Such a provision sets forth special language preventing creditors from attaching or "taking away" the interest of a beneficiary named in a Trust....
Do you have a Living Will?
If you've ever been a patient at a hospital or any other medical facility, you've probably been asked this question: "Do you have a Living Will?" So what is this document? A Living Will is a document which allows you to declare your desires in the event of an...
Ready for anything? Are You “In Omnia Paratus?”
A well-recognized Latin phrase, "In Omnia Paratus" is translated as "Ready for anything." Legally speaking, when it comes to life's challenges, many adults are not ready for anything. In particular, they are not ready in the event of disability, incapacity, or death....
Ready or Not? Semper Paratus or Non Paratus?
The motto of the United States Coast Guard is "Semper Paratus" which is Latin for "always ready" or "always prepared." When it comes to being prepared for life's challenges, including illness, incapacity, and death, it is wise to be "always prepared." Unfortunately,...
The Out-of-Luck Beneficiary: When Gifted Property is Gone
What happens when an item gifted under a Will or Trust is no longer owned at the time of death? Sometimes when estates are being probated or a Trust is being administered, a problem arises because a beneficiary is supposed to receive a specific item of property but...