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Beware of Living Trust Mills
As more and more people forego traditional wills and turn to living trusts as their estate planning tool, many are tempted to also avoid the expense of lawyers when drafting their trust. While many companies will offer trusts at wildly low prices, people should beware before considering this low cost option. Trust mills, as they […]
Do Living Trusts Protect Against Creditors’ Claims?
As living trusts become a more and more popular tool for those making estate arrangements, people occasionally get misinformation as to how they function. One common misconception is that living trusts are a legal way for you to leave assets to your family without worrying about creditors’ claims. On the contrary, while living trusts remain […]
Living Wills: Planning for the Unexpected
Whether from illness, accident or old age, individuals are unfortunately often left unable to direct their own medical care. For these reasons, it is important to have a document known as a living will in place. Living wills are legal documents that expressly state what kind of medical care you do or do not […]
Avoiding Probate with Joint Tenancy in Florida
One of the most common questions an estate attorney hears is how a person can avoid probate. This legal process wherein your property is accounted for and transferred according to the terms of your will can be a lengthy and expensive ordeal. Fortunately, one of the easiest ways to save your family from the trouble […]
Living Trusts Versus Wills
A common question people have in the estate planning process is the differences between living wills and trusts. Although both are excellent estate planning tools, often people lack a full grasp of what these documents actually do and are ill prepared to make such an important choice between them. Both documents offer you the ability […]
Planning Ahead: Making Funeral Arrangements in Florida
Retirees in Florida are often fastidious about making sure their estate documents are in place and their families are cared for, but often they neglect the very last arrangement: funeral planning. While it is a topic some people don’t like to think about, planning and paying for your own funeral can be an excellent way […]
What are Pour-Over Wills and Do You Need One?
When you’re planning your estate, you are likely to investigate all of the will and trust options that you have. For those leaning toward a revocable living trust, consider instead a pour-over will. These instruments are often used in conjunction with a trust and function to allow all of your property that passes through your […]
Summary Administration Versus Formal Administration in Probate
When someone dies, that person’s estate may be put through formal administration (in other words, the regular probate process) or it may be eligible for summary administration. This means that there are multiple methods of administrating probate in Florida. Summary administration is offered in a few select situations. Considered a shortcut to probate, this option […]
How You Can Use Roth IRAs to Avoid Probate
If you’re beginning to think about retirement, consider setting up a Roth Individual Retirement Account (IRA). Not only are IRAs very tax-friendly savings plans, but they also have long-term benefits that allow you to leave money for your heirs without forcing them to go through a challenging probate process. One misconception people have about setting […]
Florida Decides Question: Are Person’s Remains ‘Property’?
This past May, a Florida appellate court had the opportunity to decide a rather strange new question regarding estate law. The case, Wilson v. Wilson came about after a 23-year-old man was killed in a car accident. He died without a will and left no written or verbal instructions regarding how he wanted his body […]