RELATIONSHIP OF POWER OF ATTORNEY TO OTHER LEGAL INSTRUMENTS What is the difference between an attorney-in-fact and an executor or personal representative? An executor, termed a “personal representative” in Florida, is the person who takes care of another’s estate after that person dies. An attorney-in-fact may only take care of…
When is a Durable Power of Attorney effective? The Durable Power of Attorney is effective as soon as the principal signs it unless the document specifies that it is conditioned on the principal’s lack of capacity to manage property in which case appropriate affidavits are required in accordance with Florida…
Here are some of the more common rationalizations for not creating a Florida will, and the facts that quickly dispel those “myths.” Myth: “My estate is so small that a Florida will or estate planning is not needed.” Think again. Few people are have so little value as to not…
What activities are permitted by an attorney-in-fact? An attorney-in-fact may perform only those acts specified in the Power of Attorney. If an attorney-in-fact is unsure whether he or she is authorized to do a particular act, the attorney-in-fact should consult the lawyer who prepared the document or other legal counsel.…
More about Anna Nicole’s will According to Jay MacDonald , You can accidentally disinherit your heirs, Here are the 7 ways to disinherit your kids which Mr. MacDonald discusses: 1. Failure to update a will 2. Faulty will 3. Stepparent succession 4. Ademption 5. Misunderstanding survivorship 6. Mirror-image grant 7.…
ABOUT THE POWER OF ATTORNEY What is a Power of Attorney? A Power of Attorney is a legal document delegating authority from one person to another. In the document, the maker of the Power of Attorney grants the right to act on the maker’s behalf. What authority is granted depends…
A recent update to the IRS website could affect you if your Jacksonville Florida Business is a Limited Liability Company. Important information for Single Member Limited Liability Companies (LLC) who have or will have employees within the next 12 months: IRS regulations require a single member limited liability company that…
Stephanie Loomis-Price has recently published her articles entitled Family Limited Partnerships. In her article, Stephanie offers a detailed outline of the Family Limited Partnership – from consideration of the FLP as an appropriate estate planning tool, through the formation of the partnership, concluding with the administration of the partnership and…
The Wills, Trusts, & Estates Professors Blog has an summary of an article by RDA Legal Communique that Estate Planning and Estate Administration are two of the hot areas of law. Many Florida Resident have not properly planned for their families or the plans they have are out of date.…
If you feel that something is wrong with a Florida will because you are left out or your distribution doesn’t seem fair, is there anything you can do? If you believe a Florida will is not valid, you may be able to contest it. Proving a Florida will is invalid…