When an attorney is asked whether an oral contract in Florida is enforceable, the correct answer is that some, but not all, contracts must be in writing. In other words, some oral contracts are enforceable, others are not. Like many states, Florida has a "statute of...
Complex Legal Challenges
Estate Planning
What does it mean for a Trustee to decant?
A trustee may implement a process known as "decanting" whereby the trust assets of an original trust may be transferred into a new trust. This can be done even if the original trust has become irrevocable. Florida Statutes, Section 736.04117, entitled "Trustee's Power...
Personal Representative in Florida: Name Someone Who Qualifies!
When preparing a Last Will and Testament in Florida, one of the decisions you must make is who to name as Personal Representative (also sometimes called the Executor). The Personal Representative is the person in charge of the probate estate. So who can serve as...
Paying for Nursing Home Care
With the aging of our population and the improved healthcare available, people are living longer. Of those, perhaps a large percentage will eventually need nursing home care. This will present a major financial burden to many families. Elder law planning is essential....
What Makes a Durable Power of Attorney Durable?
To say that a Power of Attorney ("POA") is "durable" means that the powers given in the instrument stay in effect even if the principal becomes incapacitated and unable to manage his or her own affairs. When a POA in Florida is not durable, the powers cease if...
Some Pros and Cons of Incentive Trust Provisions
As discussed in a previous blog, incentive trust provisions are designed by estate planning attorneys for clients who wish to promote or discourage specific behaviors or lifestyles by their beneficiaries. These provisions make or withhold Trust distributions to...
Incentive Trust Provisions–a Carrot or a Stick!
Incentive trust provisions are designed by estate planning attorneys for clients who wish to promote or discourage specific behaviors or lifestyles by their beneficiaries. These provisions make or withhold Trust distributions to accomplish certain intended results. In...
Do I Need a Federal Tax Id. for My Living Trust?
When estate planning lawyers set up a Living Trust (also sometimes called a Revocable Trust), we instruct clients to title their non-qualified assets in the name of the Trust. Not infrequently, clients try to do this and are mistakenly asked by their bank or credit...
When Jewelry has Legs…The All-Too-Common Case of Missing Estate Assets!
As an estate lawyer, I often see cases where a person dies and leaves certain items of jewelry to a specific beneficiary. However, when time comes to distribute that gift, all-too-often the jewelry has gone missing. So what happened, did the jewelry grow legs...
In a Florida Divorce, is an Inheritance Considered Marital Property?
We often have clients ask whether assets they inherit are considered marital in the event of a Florida divorce. As a very general statement, assets originating during the marriage are usually considered marital. For example, if either spouse works, their earnings are...