Do Life Insurance Proceeds Go Through the Probate Process?

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Do Life Insurance Proceeds Go Through the Probate Process?

In most circumstances, life insurance payouts do not go through probate. As long as you have your beneficiary designations in order, there should not be any issue with your chosen beneficiaries getting the money they are owed after you pass. However, you may need to conduct some extra planning if you will potentially owe estate […]

How Does Durable Financial Power of Attorney Work?

A durable power attorney for finances is an estate planning tool used to cover your financial matters.  It is usually intended to be used in the event you become unable to make your own decisions. This typically occurs when you become incapacitated for health reasons. In most cases, the person granted durable financial power of […]

Answers to Frequently Asked Questions About Living Trusts

Living trusts can be highly useful estate planning tools for people in all types of financial situations. Below are answers to some of the questions we most frequently receive about these trusts. Q: Why is a living trust beneficial for my estate plan? One advantage associated with a living trust is that any property you […]

What You Need to Know About Medicaid Asset Transfer Rules

There are several key requirements you must fulfill to qualify for Medicaid benefits. One of these requirements is that you must not have recently transferred any assets, over a certain value threshold. The reason for this is that the federal government believes it is unfair for wealthy people or simply people who would not qualify […]

Why It’s Important for Your Personal Representative to Have Access to Your Digital Assets

Today’s estate plans must consider digital as well as physical assets. Digital assets include online bank accounts, email accounts, social media profiles, photo storage accounts, apps, blogs, web domains and any other digital file or account. It is imperative to provide your personal representative with access to these assets. Without such access, he or she […]

You’re Not ‘Too Busy’ to Make a Will!

With as busy as you likely are each day, it might seem like an impossible task to sit down with an attorney and draw up a will. In fact, being “too busy” is one of the most common reasons cited by people for not getting around to making a will. But making a will really […]

Can You Quitclaim Property Rather Than Leaving it In a Will?

It’s common for people to use wills or trusts to leave behind property to loved ones. However, there are other options available, such as gifting property or using a quitclaim for real estate. You do have the ability to  deed your property to others during your life.  People sometimes refer to that as quitclaiming property, […]

In Which Circumstances Can an Estate Entirely Avoid Probate?

There are some circumstances in which Florida estates do not have to go through the probate process. This usually happens when the deceased person leaves very little behind in terms of assets or property. Florida offers what is called Disposition Without Administration, a process that lets a person who paid for the final expenses of […]

What’s the Summary Administration Option in Florida?

In Florida, there are three main ways to settle an estate, one of which is summary administration. This method serves as a shortcut to the probate process for estates that meet either of the following criteria: The death occurred at least two years ago. The value of the estate to be probated, including all property […]

How to Add an Addendum to Your Will

If you wish to do so at any point, you may amend your will relatively easily to ensure the document accounts for changing circumstances in your life. You can do so by creating an addendum, also known as a “codicil” in the estate planning world. A codicil is a short document that changes some of […]