The Florida Bar has released consumer information on Florida Probate where they describe many of the issues related to Probate in Florida. They discuss the following: 1. WHAT IS PROBATE? 2. WHAT ARE PROBATE ASSETS? 3. WHY IS PROBATE NECESSARY? 4. WHAT IS A WILL? 5. WHAT HAPPENS TO PROBATE…
Florida Continues to have no State Death Tax. Only 24 states have some form of death tax as the state death tax credit has been phased out. The Top Estate Tax rate for 2008 is 45% and is scheduled to remain at $45 percent through 2009. This estate tax rate…
Accidental disinheritance is a growing problem. It’s a problem, in part, because there are too many death-disposition instruments now that dispositions are slipping through the cracks to the wrong people. Paul Rabalais wrote about this on Your Louisiana Estate Planning Blog where he describes some of the more common ways…
Starting January 1, 2008 every non-spouse designated beneficiary will have the option to rollover an inherited IRA and stretch distributions. To take advantage of this opportunity your Florida estate plan must be setup correctly to qualify for this rollover opportunity. You are not entitled to a rollover, you must prove…
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.…
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 Many Florida Resident have not properly planned for their families or the plans they have are out of date.…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…
A Living Trust is a tool used by Jacksonville Estate Planning Lawyers to hold assets for the benefits for one or more beneficiaries. Often the initial beneficiaries are the people who create them. In this case, a person or couple can use the assets of the trust just like they…
A recent article on Your Louisiana Estate Planning Blog, For Families With More Than $2 million of Assets: Bad Wills Can Cost You $1,000,000 talks about how poorly drafted wills can quickly cost your over $1Million in estate taxes. I see several clients a month that would have tax bills…
In Florida as with many other states, current child support payments and past due child support payments are an asset of the estate of the decedent. When there is back child support due and the primary caretaker passes away, the personal representative or executor of the estate may take action…