Florida Estate Planning Lawyer Blog

Jacksonville Florida loves its dogs, and this is no truer than at the Apple Law Firm where on Friday's, it's bring your dog to work day. At Apple Law, we always wag, we bark, and when necessary we bite. As Florida Estate Planning and Florida Probate Attorneys, we know the importance of creating legal documents to provide for your loved ones after you are gone. But what happens to your 4 legged best friends when you are gone? Who looks out for their best interest?

The Florida Statutes allow for the creation of a trust for the care of your pets. A Pet Trust will enable you to designate a certain amount of funds for the support and maintenance of your pets. You can also choose the person(s) who will be able to utilize the funds you have established for the continued care of your animals. You may also include a provision pertaining to the care and support of your pet(s) in your Last Will and Testament.

At Apple Law we not only help you provide for your future with estate planning, but we care about you and your family today. Whether you need to initiate a guardianship proceeding over an elderly loved one or disabled adult, or whether you need criminal law defense for someone who has barked upon the wrong tree, or perhaps you are contemplating Bankruptcy, the Jacksonville Lawyers at Apple Law will be happy to consult with you, will strongly (bark) advocate for you, and finally, will fight for your cause with all the bite that is needed.

Florida pet lovers are part of the estimated 71.4 million households that have at least one pet. according to an article published in the Chicago Sun-Times. Jacksonville animal lovers spend lots of time and money caring for their pets, but what happens to these beloved creatures when their owner passes away?

If you have not made an arrangement with a family member or friend your pet may end up in an animal shelter or worse. People create Florida Wills to provide for their families and there is a growing trend to create pet trusts. Remember the very wealthy Leona Helmslely, she left millions to care for her maltese poodle. Make arrangements by speaking with a Pet Trust Attorney, so the person you designate to take your dog or cat or other animal, will have the adequate funds to look after your pet.

If you love and cherish your dogs, cats and pets than make sure they are cared for should you pass away before them. The Florida Trust Code has provided for a pet trust which allows you to ensure that your animal alive during your lifetime is taken care of even after you are gone. If you want to discuss having a trust created to ensure that you have left appropriate funds for the future care of your beloved pet, call a Jacksonville Estate Planning Firm.

The stage has been set for a estate contest concerning the estate of Gail Posner. Gail is the daughter and heiress of the late millionaire business executive Victor Posner. In her recent will admitted to probate, Gail left $3 million in a Florida Pet Trust fund for the care of her three Chihuahuas so that they could maintain the lifestyle in which they were brought up. Gail's only surviving child, Bret Carr, is challenging the Florida Will declaring his mother was coerced into changing the Florida Will by her caretaker and employees.

Despite the fact that Carr was awarded $1 million under the Florida Will, Gail's maids, personal trainer, and bodyguard received a total of $27 million. Carr's allegations state that the Gail made changes to her Florida Estate Plan while she had with mental problems and was addicted to painkillers. The son alleges this led to the brainwashing of his mother by those who sought to cut him out of his grandfather's fortune.

While Carr's main concern is not the Florida Pet Trust, it could certainly be affected by the decision that is reached by the judge. In the event that undue influence is found, the entire Florida Will could be invalid.

If you are concerned about a Florida Pet Trust contact a Jacksonville Pet Trust lawyer to discuss the types of actions that can be taken to protect your animals and how to document it properly to help avoid claims of undue influence and other attacks.

An alternate beneficiary is a person or entity that you name in your Florida Will or Florida Revocable Trust to receive a gift or devise in the event that the direct beneficiary does not outlive you or is not fit to receive the gift because of a legal reason, disclaimer, or other provision in the document that would disqualify them. Many times when an elderly individual makes a Florida Will they assume their demise will be sooner than all of their beneficiaries. It is important to name at least one other person to take in the event a direct beneficiary dies before you. The following is an example what a gift might look like: “I leave to my son Aaron the house but in the event he predeceases me, the house should pass my brother Bob.”
Florida does provide some default language in most cases for close relatives. In Florida close relatives who predecease the person who leaves them something will have the item left to their children in many cases. Since this is not always what is desired or always the case, you should have any documents that are depending on this to be reviewed by an Florida Estate Planning Lawyer who is familiar with the provisions.

Although it is rare to think someone is not fit to take a gift, a child who stands to inherit a large sum of money may not be prepared to receive such a gift. Under this scenario, it would be wise to then name one or more alternate beneficiaries and place a condition on the child’s gift such as: “I give to my son Aaron $1,000 if he has reached the age of 25. In the event he is not yet 15, I leave the $1,000 to my cousin Barbara in trust for my son until he reaches the age of 25.”

Alternate plans can be very complex but should be discussed with a Florida Estate Planning Lawyer. They are not required but are wise in estate planning because in the event the beneficiary predeceases you the gift will pass under a statutory scheme. Naming alternative beneficiaries is essential if you truly desire to have your gifts carried out faithfully.

Most people would not believe that a family pet needs to be subjected to the Florida Probate process, but Florida Law defines animals as personal property and as such are subject to probate just like other personal property. Fortunately we can create provisions in our Florida Revocable Trust to deal with our animals or at least to own them so that they are not subjected to probate. If you want to provide for more than an easy transfer of the ownership of the animals, you might consider pet trust provisions to allow for the care of the animal in the event they survive you.

Next time you talk with your Florida Estate Planning Lawyer ask them about your pet and how they will be dealt with if you were to die.

Many pet owners think of their pets as part of their family. Legally pets are considered personal property like a car or jewelry.

If you are sick, injured, or unable to care for your pet and have not planned ahead, your pets may not be taken care of by the person you want. They may be managed like your other personal property.

Upon your death, your pets will pass as residual property under your will or your states intestate laws.

It is important to make specific provisions in your will, trust, and other estate planning documents to provide for your pet. If not, you pet could end up like many, in a shelter or on the street.

A Pet trust give you the ability to control your pets care if you are unable to. You can also add additional pets to the trust during your life. The trust can go into effect as soon as you create it.

Other less expensive methods of taking care of your pets include provisions in a will to create a pet trust if a pet survives you and conditional gifts in the will. Although a gift in the will does not require that the funds be used for the benefit of the pet the funds are given with the instructions to be used for the purpose you request.

If you would like to know more about creating Estate Planning Documents to provide for your pet, please Contact a licensed Estate Planning Lawyer in your state.

Gerry Beyer, author of the Wills, Trusts & Estate Professors Blog has a post on his blog Becoming a "Pet Friendly" Estate Planner which points to an article he wrote in Legal Times. "Your Trust-worthy Pet" discusses the history of providing for pets which began in England in 1889. Now around 40 states have authorized statutory pet statutes.

In the Legal Times article he lists 13 important consideration for traditional pet trusts:

1. Create the trust inter vivos or in the pet owner’s will?
2. Who is the animal’s caregiver (the beneficiary of the trust)?
3. Who is the trustee and will the trustee be paid?
4. When should ownership of the pet be transferred?
5. What and how much property should be transferred to the trust?
6. What is the desired standard of living for the pet?
7. How is the distribution of trust property to the caregiver determined?
8. Should the caregiver be “paid” for services?
9. When should the trust end?
10. Who should be the remainder beneficiary when the trust ends?
11. How should the animal be identified?
12. How should the animal’s welfare be monitored?
13. What happens to the pet when it dies?

To create a Florida Pet Trust you should Contact a Florida Estate Planning Lawyer to discuss how you can modify your Florida Will or Florida Revocable Trust.

In Florida, and many other states animals are now allowed to be the beneficiaries of a special trust that is created to take care of them. These are often referred to as a Florida Pet Trust.

Today I was reading an article published in Arizona which stated that a Dog could inherit one's estate. While the article gives the correct advice the title is misleading and seems to suggest that a dog could inherit your estate. A pet may only receive the benefit of a Florida Pet Trust while the animal is alive. Being the beneficiary of a trust is not the same as inheriting part of an estate. In fact, a gift to a pet which is not in the form of a Florida Pet Trust would be void in Florida and most states.

To create a valid Florida Pet Trust please Contact a Florida Estate Planning Lawyer.

In Florida and many other states animals are now allowed to beneficiaries of a special trust that is created to take care of them. These are often referred to as a Florida Pet Trust.

Today I was reading an article published in Arizona where a letter to the editor basically stated that a Dog could inherit ones estate and referred to Leona Helmsley as an explanation of this. While the article gives the correct advice the title is misleading and seems to suggest that a dog could inherit your estate. A pet only receives the benefit of a Florida Pet Trust while it is alive and the pet does not have the ability to use it for anything they want. A beneficiary of a trust is not the same as inheriting one's estate. In fact a gift to a pet that is not interpreted as a Florida Pet Trust would be void in Florida and most states.

To create a valid Florida Pet Trust please Contact a Florida Estate Planning Lawyer.

Theresa Harrington of the Contra Costa Times has written about groups that encourage estate plans for pets. These are often referred to as Pet Trusts or may be included in a will with language that creates a testamentary Pet Trust.

She has found that it is suggested that $10,000 - $15,000 a year be set aside for the care of one's pet.

"Most people think some relative will take them. Sometimes they do, and sometimes they don't. She quotes, "From working in animal rescue, I see what happens to animals when their owners die. Approximately 500,000 pets are euthanized nationwide every year because they have gone into shelters when their owners passed away and homes couldn't be found for them.

With the recent rise in the popularity of the Florida Pet Trust many individuals are caught off guard with unexpected expenses associated with a Florida Pet Trust. These expenses are also associated with Florida Pet Trusts from other states as they are related to Federal issues.

The primary issue that a pet trust is subject to income tax reporting and required to pay taxes on the income the funds generate. Most Florida Pet Trusts have less than $50,000 in funds and the cost of maintianing them is relatively high. There are some Pet Trusts that pool the money and do master reporting. This can be a solution to smaller pet trusts. If you are interested in creating a Florida Pet Trust, Contact a Florida Pet Trust Lawyer for more information

It wasn't long ago that animals had no rights when their owner died. Today you make a difference in your Pet's life after you are gone.

Estate planning for pets gained momentum during the 1990s, and pet trusts are now legal in most of the 50 states, including Florida.

A smooth transition

If you die or become incapacitated, what will happen to that special "member of the family?" Legally, a pet is your tangible personal property. It would pass to your heirs or the beneficiaries of your estate unless you have a will or trust stipulating otherwise. Even if you have a will, it doesn't likely address who is actually the best person to care for your pet, nor does it address the immediate problem of care, which pets will need at once. They can't wait until after the will is through probate.

The Florida pet trust is your chance to smooth the transition for your pet while providing the funds for its care and any special needs during its natural life. Details of such trusts vary by state, but no matter how you establish one, there are basic decisions to make before you act.

Picking a caretaker

Perhaps the most difficult step is finding the most suitable caretaker - someone not only able, but also willing to take on the care of your pet. Relatives and friends may enjoy visiting with your pet, but that doesn't necessarily translate into a willingness to provide for its daily care.

Discuss what financial provisions should be made to reimburse the caretaker for actual expenses for food, toys, walking, veterinary care and any special needs.

If you have no relatives or friends willing to accept possible pet-care responsibilities, you could investigate the fairly large number of non-profit organizations willing to do it.

Pet information

Whether a person or an organization, your pet's designated caretaker will need comprehensive information - both short-term (suppose you are hospitalized for a limited time) and long-term. This could include registration papers, if they exist, and descriptions that amount to reliable ways of identifying your pet - the story is told of a caretaker of a black dog who kept finding other black dogs to keep the trust income coming in long after the original pet had died. Markings are obvious identification points, but beyond that, you might consider DNA identification or micro chipping.

Other essential information includes a veterinary history, details of any medical conditions, dietary requirements, sleeping and exercise habits, even social preferences - especially any negative reactions your pet has to certain types of persons. For many, taking care of pets left behind is a particularly sensitive subject. If your situation fits certain criteria you may want to consider a Florida Pet Trust.

Pet trusts use to be very expensive to create, no a Florida Estate Planning Lawyer can include provisions in your Florida will or trust to deal with your pet for less than a few hundred dollars. For more information on Florida Pet trusts contact a Florida Estate Planning Lawyer.

If you or a member of your family was to have a crisis are you prepared? That is the question you should ask your Florida Estate Planning Lawyer or Attorney on a regular basis. Often we only look at significant events in our lives and do not consider the effects that a significant effect in our parents or children's lives will have upon us.

When you review your Florida Estate Plan you should also review or remind your parents and adult children to review their plans also. There are changes in the laws which may prompt updates to your estate planning techniques. In addition, significant changes in your life including births, deaths, marriages, divorces, and changes in assets should trigger an estate plan review.

Generally when an Florida Estate Planning Attorney creates Florida Estate Planning Documents their duty is over once the documents are prepared. The obligation is up to you to seek a regular review of these documents.

In addition to reviewing the documents you should consider the following:

1) Make sure you know where your parents documents are, and you tell your personal representative and beneficiaries know where the documents are. If you are concerned that the documents may disappear, you may keep them with an attorney. If you keep your documents with a Jacksonville Florida Estate Planning Lawyerr or Jacksonville Florida Probate Lawyer you should tell people who has them.

2)Check to see that the Florida Estate Planning documents are complete and reflect their current family and financial situation.

3)Make sure that the documents reflect your or your parents current mind set. Wills and trusts need to be reviewed for changes in their financial condition as well as the beneficiaries family and financial condition.

4) Make sure all Estate Planning Documents are signed and witnessed as necessary under the current statutes or those in place at the time of execution.

5)Make sure any Florida Durable Power of Attorney documents mention the current Florida Statutes, many durable power of attorney documents are not honored when they do not comply with the Florida Statutes.

6) Make sure your Florida Living Trust or Florida Revocable Trust or any Florida Trusts are funded. That means that the bank accounts, CD accounts, land, and other assets have been transferred to the trusts. Any deeds to this effect should be properly recorded.

You have just been asked to be a successor trustee for a Florida Living Trust. What will your trustee duties and responsibilities be? Do you want to accept? Are their downsides? I ran across an interesting article and have applied some of it to Florida law. This note will help you to understand what some of the common issues are and will help you to discuss your options with a Florida Estate Planning Lawyer. Remember that all Florida trusts are different, and that many of your duties, responsibilities may not be contained in the document. Therefore your document will need to be analyzed with the New Florida Trust code.

First Lets discuss some of the background information that will be necessary to understand your duties and responsibilities.

A Trust is a legal entity. When assets are contributed to the trust, the trust separates the legal ownership (possession) from the beneficial ownership (the principal and income). Often trusts look very much like wills because they include instructions for whom your your assets will benefit after our death. Some trusts are created during the life of the person who creates them ( the settlor or grantor) and some are created after their death (testamentary).

Florida Living Trusts work by separating the equitable ownership (the trustee)from the beneficial ownership (the beneficiary).

Who are the people involved in a Trust? The grantor (also called settlor, trustor, creator or trustmaker) is the person whose trust it is. Married couples who set up one trust together are co-grantors of their trust. Only the grantor(s) can make changes to his or her trust.

The trustee manages the assets that are in the trust. Many people choose to be their own trustee and continue to manage their affairs for as long as they are able. Married couples are often co-trustees, so that when one dies or becomes incapacitated, the surviving spouse can continue to handle their finances with no other actions or steps required, including court interference.

A successor trustee is named to step in and manage the trust when the trustee is no longer able to continue (usually due to incapacity or death). Typically, several are named in succession in case one or more cannot act. Sometimes two or more adult children are named to act together. Sometimes a corporate trustee (bank or trust company) is named. Sometimes it is a combination of the two.

The beneficiaries are the persons or organizations who will receive the trust assets after the grantor dies.

Continue reading "Successor Trustee: Duties and Responsibilities" »

When making a Florida Will, Florida Revocable Trust, or Codicil to a Florida Will there are several technicalities that must be complied with for the documents to be valid.

1) Who can make a Florida Will, Florida Revocable Trust, or Codicil to a Florida Will:
The answer to this can be found in section 732.501, Florida Statutes, where it states: Any person who is of sound mind and who is either 18 or more years of age or an emancipated minor may make a will.

2 What are the requirements for execution of the Florida Will, Florida Revocable Trust, or Codicil to a Florida Will:
Section 732.502, Florida Statutes, states:
(1)(a)The Testator must sign at the end of the will; and
(1)(b)Two witnesses in the presence of the testator, must sign that they witnessed the will.

Each witness must sign the Will in the presence of testator and each other.

Section 732.504, Florida Statutes :Unlike in some states a witness for these documents can be any person competent even if they are named in the will or will benefit from the will.

if you have questions about a Florida Will, Florida Revocable Trust, or Codicil to a Florida Willyou should speak with a Florida Estate Planning Lawyer.