There are many tools for estate planning in Florida. Findlaw has a nice table that summarizes the benefits provided by some of the more common estate planning tools. Be sure to talk to a Florida estate planning attorney for the details of each and your specific circumstances. This table Covers…
A Durable Power of Attorney and Health Care Directive / Living WIll are two additional documents that should be part of every family’s estate plan, in addition to a Will or Living Trust. An Advance Health Care Directive appoints someone to make medical decisions for you if you become incapacitated.…
Picking a guardian is often the most difficult part of estate planning for most parents. Your Estate Planning Attorney can help by asking you to consider While every family in Florida faces different decisions, here are a few things to keep in mind: Who do your children really care for?…
With a Florida Wills you can appoint guardians for your children and arrange to manage their property for them until they’re legal adults. Making a will is a critical first step in your plan. But in Florida a will must go through the probate process, a lengthy and expensive court…
Estate planning is something that most parents want to avoid. But it doesn’t have to be. Understanding how to make the most of your estate for your children can actually be interesting, and even fun. Taking a few simple steps now will save your children thousands of dollars later that…
When formulating a Florida estate plan, you should contemplate body disposal and ceremonies. Writing out a statement of your preferences will likely save money and save your loved ones from additional heartache. Typically, at least one ceremony occurs when a person dies. Sometimes several ceremonies are held, either before or…
Donating One’s Body to Science A dead human body is usually disposed of by burial or cremation. One alternative that benefits people outside of the funeral industry is to donate one’s dead body to science. Donation to science (also know as donation to medical science) is turning over a dead…
Florida law specifically authorizes Spendthrift provisions in a revocable living trust or irrevocable trust. A spendthrift clause in a trust prohibits transfers of a beneficiary’s interest in the trust. In some jurisdictions, all income interests are automatically given limited spendthrift protection meaning that they cannot be transferred by a beneficiary…
Under a Totten trust, a trust-like arrangement is created by a person who deposits money in a bank account and names a beneficiary. Because the depositor owes no duties to the beneficiary, a real trust (Florida Revocable trust)is not formed. However, upon the depositor’s death, the account will not go…
A trustor can name the trustee of a living trust or of a testamentary trust created in a will as beneficiary of his life insurance proceeds. However, if the trustee of a living trust is named beneficiary, the trust must exist at the time that the beneficiary is named. These…