An often-used estate planning tool is a type of trust known as a "Living Trust." Once this type of trust is established, clients often ask whether it can be revoked or amended. Unless something is said to the contrary in the trust instrument itself, the answer is an...
Complex Legal Challenges
Estate Planning
What is needed to remove a Trustee in Florida?
A trustee of a trust in Florida may be removed for reasons set forth in the trust instrument itself. For example, some trusts contain provisions allowing the beneficiaries to remove a trustee--usually by majority vote. In addition to the terms of the trust itself,...
What is necessary for a disclaimer to be “qualified?”
As discussed in a previous blog entry, making a qualified disclaimer can be a useful tool in estate administration. In particular, it allows a beneficiary to renounce an interest in an inheritance or gift and thereby let it pass to another beneficiary. However, what...
In estate administration, what is a “qualified disclaimer?”
One definition of "disclaim" is when a person denies or renounces a claim to some thing or some right. In the context of estate administration, when a person disclaims, they are renouncing part or all of their right to receive under a Will, Trust or by operation of...
In Florida, should you own your principal residence in an LLC?
In certain situations, Florida property owners recognize the benefits of owning real property in a Limited Liability Company (LLC). In particular, such ownership can protect the owner's other assets from liability in a lawsuit. It may also make transfer at death...