Regardless of your age, marital status or the amount of wealth you currently possess, establishing an estate plan is not only important, but downright crucial. Why? Because as FindLaw explains, if you do not have at least a last will and testament when you die, the...
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Estate Planning
QTIP trusts for blended families
If you are preparing to get married and you have children and grandchildren from a previous relationship, you will want to have open discussions with your new partner about how you want to prepare your estate plan. It is common for people to want to leave a legacy in...
Discussing an estate plan for aging parents
The topic of estate planning surfaces many emotions for most people in Florida ranging from feeling overwhelmed, to optimistic to confused. Because of the breadth of creating an estate plan, some people avoid the topic even though they have a real need for discussing...
How should you handle your estate plan during your second marriage?
After a divorce, it may be time for you to alter your estate plan. The truth is that you should update your estate plan whenever there is major event in your life. This includes any divorces or marriages that occur. After your divorce, you may plan to remarry. Couples...
What duties must an estate executor perform?
As the executor of someone’s estate, the responsibility rests with you to take his or assets through the probate process after (s)he dies. The American Bar Association points out that the most important aspect of your duties lies in the fact that in all that you do,...
Probate and Estate administration
Florida laws claim that there are assets that have to go through the probate process once someone dies. The probate court helps in keeping track of the assets belonging to a deceased person, clearing all their debt and taxes, and transferring the property to the...
How can life insurance help your estate plan?
A good estate plan will ensure you provide for your loved ones with minimal expenses to them after your death. This can be a complicated task with the different rules and taxation schedules. Plus, you also have to think about the ever-changing laws associated with...
What is the probate process?
To many Florida residents, the thought of probate can seem worrisome. Those who are doing their estate planning are likely to be concerned about the inheritance process being as painless as possible for their family after they die. After the death of a loved one, the...
Critical components of a prepared estate plan
For many people in Florida, the idea of planning their estate seems a bit unimportant especially if they are at a point in their life where the chances of them dying seem relatively slim and unrealistic. However, there is never a bad time for people to begin thinking...