Many times we get questions from clients asking if their revocable trust provides asset protection from creditors. The answer to this is the typical legal answer “It Depends”. That is it depends on who owes the money. In Florida a revocable trust can provide some limited protection against the creditors…
You can use a website or create your own will in Florida, but we find that some people do not create valid wills, or create wills that do things other than what they want. We only charge $200 for a will so an online will does not save very much…
Many people see joint accounts as a cheap and easy way to avoid probate, since joint property passes to the join owner at death, but these accounts can actually be quite risky when it comes to estate planning. Joint ownership of accounts can be a great way to easily pass…
If your family works in a high stress profession is a good idea to make sure you and your family keep their estate plans up to date. The unexpected deaths of finance workers in the past few months by suicide around the world have raised concerns about mental health and…
Planning an estate can be a difficult process, but also a rewarding one because it helps to ensure that a person’s heirs will be provided for after he or she dies. Many assume they should wait until after death to convey assets to their loved ones, but there are some…
The Florida Supreme Court recently decided the long and costly case of a deceased woman who tried to write her own Will using an online legal form. In Aldrich, v. Basile, Ann Aldrich used a pre-printed legal form to draft a Will. She did this most likely to avoid paying…
Estate Planning: There are a number of ways to save money for a family’s children that will release the money to them at an early age in their life. The two most popular options are either through the Uniform Gift to Minors Act (UGMA) or through the Uniform Transfer to…
Last week, The Supreme Court unanimously ruled that the funds contained in an IRA are not protected from creditors after bankruptcy. You may need to reevaluate how your estate plan deals with your IRA. If your beneficiaries live in Florida, this may not be a concern because the Florida Legislature…
In today’s world, it is common to see blended families full of biological and stepchildren. It is crucial for parents, who wish to leave an inheritance to their stepchildren, make a will or trust because stepchildren do not have the same inheritance rights as biological children. Florida’s probate laws do…
Probate is the system the court uses to administer a person’s estate, either through a will or through intestate succession. Clients often ask for ways to avoid the probate process, such as adding a child to their bank account or adding the child’s name to the deed. Adding a Child…