Over the last year I worked with an intern in our office of a Law Review article for Texas Tech University. This article describes problems with current estate planning and takes the premise that most estate planners have become lazy because of advancements in technology. That is, most only ask…
A Durable Power of Attorney (DPA) allows you, the “principal”, to designate someone, the “agent”, to act on your behalf. Depending on the DPA, your agent will have authority to oversee your financial affairs or your medical treatment. Having a DPA is a good idea, but only if it is…
A Florida Will is one of the most basic estate-planning documents. A Will allows the grantor to devise his or her property with very limited encumbrances; however, there are issues that are better addressed with other estate-planning documents – like a Trust. If you are debating whether to use a…
Each state has different asset protection laws. Florida’s asset protection laws are considered one of the most liberal ones. Therefore, it is a good idea to discuss your case with an estate-planning attorney with expertise in asset protection to take advantage of the liberal asset protection laws of Florida. Florida’s…
The grapevine is full of rumors about probate. Some of them are true, but many of them are more than misguided. The fact that each state has a different probate procedure makes the process harder to understand. If you want to get a general grasp about some basic rules of…
Every trust needs at least one trustee to administer the trust and to carry on its terms. If a person designated as a trustee ceases to act as one, then a vacancy in the trust occurs and it might need to be filled. Succession of trustees is perhaps one of…
Updating your estate plan is as important as having one. Many find it easy to procrastinate about updating their estate plan because they do not want to spend the money on a Florida estate-planning attorney. However, a lot of money can be lost through missed estate planning opportunities and family…
This process lets someone who paid for a decedent’s final expenses, from the funeral or from the last illness, to be reimbursed from the assets of the decedent’s estate. This process is only available if the decedent did not leave any real estate and the only assets in the estate…
There are to main types of probate administration in Florida: summary administration and formal administration. Summary administration can only be used when the total value of decedent’s assets subject to probate are $75,000 or less, or when the decedent has been dead for more than two years. Formal administration is…
Using a Durable Power of Attorney in Florida When you have been appointed as an agent by a person to act as an attorney-in-fact for that person, you must keep three important ideas in mind. Agent Authority Because you are acting as an agent, you are obligated to either act…