The most common problem with Florida Estate Planning or estate planning in general is that those how are in the most need of the benefits a Florida Revocable Trust can offer are the ones who usually fail to fund their trust. Creating a Florida Revocable Trust is only the beginning.…
Mississippi’s Supreme court decision reinforces the importance of having a Durable Power of Attorney. A Florida Durable Power of Attorney can be one the most important Florida Estate Planning Documents, a Power of Attorney allows a person you “agent” or “attorney-in-fact” — to make financial decisions for you when you…
As the Estate tax exemption continues to increase, fewer and fewer American families are subjected to the death Taxes. On the other hand this is creating a real problem with probate fees. Since fewer families are concerned with estate taxes, the overlook the fees associated with probate. There are many…
Britney’s dad had was appointed as conservator of her person and co-conservator of her estate, which means her dad is now in control of what Britney can do, who she can see, and he’s controlling all access to her bank accounts and credit cards. Over the weekend, Britney attempted to…
When someone dies without a Florida Will Their property is distributed under the Florida Statutes. Chapter 732 defines the order of succession to a decedent’s property. 732.103 Share of other heirs.–The part of the intestate estate not passing to the surviving spouse under s. 732.102, or the entire intestate estate…
Florida changed their statute regarding Power of Attorney several years ago. It seems that many banks and other financial institutions were not honoring existing powers of attorney documents. Florida changed Florida Statute 709 to allow for enforcement and recovery of expenses associated with the improper denial of a Power of…
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…
How is a Florida Estate Plan different if you or your spouse is not a citizen of the United States? The Connecticut Elder Law Blog reported in an article that if non U.S. citizens have a completely different set of estate tax rules to contend with. If the U.S. citizen…
Mark Jakubik of the Pennsylvania Estate Planning Lawyer Blog posted an article Reasons to Prepare a “Living Trust” where he has compiled a good list of reasons. They are: * Avoiding probate. Since the property is no longer in your name as an individual, but is now in your name…
Can I amend my life insurance trust? A Florida Life Insurance Trust is an irrevocable trust and can generally not be amended. Although Florida’s new trust code does allow for easier amendments of trusts when the primary purpose of the trust will not be accomplished by the current form. An…