Administration – Probate or Trust: The process of handling the affairs of a deceased person’s estate or a trust. Florida Probate and Trust Administration Ancillary Administration: probate proceedings in another state. This is usually necessary when the deceased person owned real estate in their sole name in a state other…
3. What Are some disadvantages of Florida Revocable Trusts Re-Registration of Property and Changes to Beneficiary Designations In order for the trust to ensure the continuity of management of the assets and Florida probate avoidance the trust must be funded through a process of retitling assets of the estate. Depending…
FLORIDA REVOCABLE TRUST STRUCTURE A Florida revocable trust is created when an individual (typically called the grantor in Florida but also known as settlor, or trustor) signs a trust agreement naming a person(s), a corporation, or both to administer the trust (the trustee or corporate trustee). In Florida and many…
A new problem has begun to surface in Florida Estate Planning. What happens if you use email, or other online services? Will your loved ones be able to act upon your behalf if you are incapacitated or unable to act on your own?
NOTE: This is a basic overview of estate planning, and not specifically for Florida estate planning purposes, This information may help you to develop a general understanding of estate planning. It is not designed to replace what a Florida estate planning attorney can do for you and you should consult…
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…
In Florida probate is a court-supervised process that is designed to determine how to transfer the assets of a decedent upon their death. Property subject to Florida probate administration is that owned by a person at death, which does not pass to others by operation of law, contract or designation…
Within one to four months (depending on the particular state) after the executor has been appointed, he is required by law to file a “complete” inventory of the estate’s assets. A Florida Probate Inventory is required to be filed within 120 days. The inventory is submitted to the court and,…
Notice to Heirs and Interested Parties — Time to Contest In most states including Florida, after the petition for probate is filed, the Probate Court will order that notice of the petition be given to the heirs and other “interested” parties (those who may not be heirs but who may…
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…