What is the relationship between a Declaration of Living Will and Power of Attorney? A declaration of living will specifies a person’s wishes as to the provision or termination of medical procedures when the person is diagnosed with a terminal condition, has an end-stage condition, or is in a persistent…
There have been many revisions to Florida’s Trust Code and I have touched on some of them on this blog in the past. There have been major changes to creditors rights. Creditors cannot compel distributions from or attach or otherwise reach a beneficiary’s interest in a third party discretionary trust…
RELATIONSHIP OF POWER OF ATTORNEY TO OTHER LEGAL INSTRUMENTS What is the difference between an attorney-in-fact and an executor or personal representative? An executor, termed a “personal representative” in Florida, is the person who takes care of another’s estate after that person dies. An attorney-in-fact may only take care of…
When is a Durable Power of Attorney effective? The Durable Power of Attorney is effective as soon as the principal signs it unless the document specifies that it is conditioned on the principal’s lack of capacity to manage property in which case appropriate affidavits are required in accordance with Florida…
Here are some of the more common rationalizations for not creating a Florida will, and the facts that quickly dispel those “myths.” Myth: “My estate is so small that a Florida will or estate planning is not needed.” Think again. Few people are have so little value as to not…
What activities are permitted by an attorney-in-fact? An attorney-in-fact may perform only those acts specified in the Power of Attorney. If an attorney-in-fact is unsure whether he or she is authorized to do a particular act, the attorney-in-fact should consult the lawyer who prepared the document or other legal counsel.…
Next time you attend a Living trust seminar in Jacksonville Florida or where ever you live, you may want to think twice. This week Family First Advanced Estate Planning, and insurance company, and a life insurance company who targeted low cost estate planning to seniors settled with the Attorney General…
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.…
ABOUT THE POWER OF ATTORNEY What is a Power of Attorney? A Power of Attorney is a legal document delegating authority from one person to another. In the document, the maker of the Power of Attorney grants the right to act on the maker’s behalf. What authority is granted depends…
A recent update to the IRS website could affect you if your Jacksonville Florida Business is a Limited Liability Company. Important information for Single Member Limited Liability Companies (LLC) who have or will have employees within the next 12 months: IRS regulations require a single member limited liability company that…