Suppose your parents set up a tax planning Florida Revocable Trust with the assets being held for the kids in trust. Under the terms of the trust, the trustee is to distribute net income and principle as the trustee determines is necessary for education and support in reasonable comfort. If…
As a Jacksonville Beach Estate Planning Attorney I have heard countless stories of trustees who have been entrusted to administer, distribute, and account for trust funds to family members and beneficiaries . . . who DON’T! Sad but true, the death of a grantor, trustor, or settlor of a trust…
When you have a blended family or children from different marriages it is very important to have estate planning that deals with the various possibilities. All to often the standard will or generic documents can produce undesired results. Take for example a Husband and Wife who each have children from…
As a Jacksonville Attorney at a Florida Estate Planning Firm, I have seen many issues concerning homestead protection in both probate matters and in estate planning. When you occupy a home in Florida as your main residence, this is called your homestead property. Notwithstanding some exceptions, the Florida Constitution protects…
Recently the 3rd DCA in the Florida case of Lorenzo v. Medina ruled that the anti-lapse statute must be strictly construed and that gifts to in-laws are not saved and lapse unlike a gift to a close family member. This means a gift to a sister-in-law who predeceases the testator…
When creating Florida Estate Planning Lawyer it is important to remember that once you create the documents your job is not done. If you create a Florida Revocable Trust it is important to fund the trust or it will not provide one of the typical benefits of avoiding a Florida…
In a recent article by Kelly Greene of the Wall Street Journal, she explains methods in which individuals can protect their retirement accounts. Over an individual’s lifetime an IRA (Individual Retirement Account) can accrue hundreds of thousands, or even millions of dollars. There is a high possibility that these retirement…
Whether you want to completely alter the beneficiaries of your life insurance policy or simply add contingent beneficiaries, the process is not all that difficult. However, there are some common mistakes that occur which can result in unpredictable situations. An amendment to a will or trust document cannot change the…
Florida Will Contests: Occasionally a family member or friend passes away with a Florida Will that gives less than expected to an heir of the decedent. This situation usually gives rise to an inquiry about a will contest. A will contest happens when the disgruntled heir challenges the will by…
With Florida Trust Litigation on the rise, it is important that trustees preform their duties properly. One of the primary duties of a Florida Trust trustee is to keep accurate records of all acts performed by him in regards to the trust estate. In Florida, trustees have this duty, known…