Florida Estate Planning Lawyer Blog

January 31, 2011

No Florida WIll Contest Can Fix This Problem.

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 a prior marriage. Husband and wife each want to support each other in the even they pre-decease each other. The problem is created when the Husband dies first, and leaves everything to the wife. Now the wife dies and leave everything to her children, essentially disinheriting the husband’s children.

There are several ways a Florida Estate Planning Lawyer can address these issues and achieve the desired results of the husband and wife.

January 25, 2011

Probate Does Not Have to Be Deadly

by Patricia Davis

The ABA Journal recently reported an unusual case when an attorney’s client was targeted for murder by his own brother. The parents of the brothers passed away leaving an unexpected $20 million dollar estate. The brother’s were the sole heirs of the estate, but apparently sharing the money was not in the one brothers plan. He was arrested for putting a murder contract out on his younger brother.

Money does crazy things to people. A consulting with a Ponte Vedra Estate Planning Law Firm may offer numerous ways in which you can provide for your heirs, which may prevent them from receiving too large of an inheritance at one time. Discussing the benefits of preparing a Florida will or Florida trust can be an important tool for anyone leaving assets to children or other family members.

If you are a named beneficiary in someone’s will, or if you expect a conflict with other beneficiaries, a Ponte Vedra Probate Firm can guide you through the probate procedure and any adversarial proceedings which may arise.

January 24, 2011

The South Rises above in Child Rearing by Gay Couples

by Patricia Davis

Jacksonville Gay and Lesbian parents made news in the New York Times as being one of the biggest populations of gay parents in the country! According to information obtained from the 2009 Census Bureau, about 32% of gay couples in Jacksonville are raising children, second only to San Antonio, where the rate is at about 34%.

A large number of gay couples have entered into same-sex relationships after having children with their heterosexual partners in previous relationships. Other gay couples have children through sperm donation and surrogacy. Whatever brought children into your life, it is important to consult with a Jacksonville gay and lesbian friendly law firm to discuss ways to protect your children through the preparation of legal documents.

Advocacy groups report that children of same-sex couples are some of society’s most vulnerable children, who have fewer legal protections and less health insurance than children of heterosexual parents. Through estate planning documents you can ensure that your children will be provided for in the future. Jacksonville Guardianship allows you to prepare pre-need guardian documents so you select the person to care for your children in the event of your incapacity or demise. Talk to a Jacksonville Estate Planning Attorney who is sensitive to the unique issues facing children of gay and lesbian couples.

January 19, 2011

A Relative Dies, whats next?

by Patricia Davis

You have recently lost your uncle. He did not own a Florida home or real property but had bank accounts including a money market, CD’s and a checking account. The accounts were solely in the uncle’s name. His wife passed away years ago and he had no children. Whether there was a Florida Will or not, a Jacksonville probate proceeding must be initiated to transfer the uncle’s property (financial accounts) to the proper beneficiaries.

If there is an indication that the bank accounts are less than $75,000.00 you may elect to go forth with a summary administration. A Florida Summary Administration is a shortened probate procedure in Florida and is available if the person who passed away has been dead for more than two years or if the person’s estate, (less the value of any exempt property) does not exceed $75,000.00.

Before the Jacksonville Probate Judge will issue the Order of administration providing for the distribution of property, the petitioner (person initiating the probate proceeding) must show the judge that all known creditors have been given notice and an opportunity to make a claim against the Florida estate.

January 18, 2011

Florida Probate of Time Share Property

by David M. Goldman

As a Jacksonville Estate Planning Lawyer I get questions from Lawyers and clients all over the country on how to deal with a Florida Timeshare and if it is necessary to open a separate Florida Probate for the timeshare.

It is important to determine if there is any value in the Florida Timeshare property. To do this you may think about the following issues:

Generally timeshares are worthless and hard to sell.

January 17, 2011

How do you Revoke or Amend your Florida Will?

by Patricia Davis

If you have ever thought about changing or invalidating your Florida Will it is recommended that you speak with an Attorney at an Orange Park Estate Planning Firm, who is familiar with the Florida Statutes which govern the preparation and revocation of Florida Wills.

All Florida Wills are revocable until your death- as long as you are competent. A Florida Will can be revoked by writing or by an act. A Florida Will can be revoked by the preparation of a later Florida Will. A Florida Will can also be revoked by burning, tearing, defacing, or destroying the will if it is done so purposely and intentionally.

If you want to revoke a Florida Will and ensure that it is never used, it would be advisable to collect all copies and destroy them. If this is not possible, write the word REVOKED on the original Florida Will, along with the date, and your signature. You should prepare a new will before or at the same time as you revoke the old will in case you die before the new will is prepared. If a new will is not prepared, the court will consider that you died without a will and will base the distribution of your assets on the Florida intestate succession laws.

January 17, 2011

Florida Homestead Protection in a Trust?

by Patricia Davis

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 the homestead from forced sale by creditors. If the owner of a homestead dies, the creditor protection of the home (from the decedent’s creditors) continues for the spouse or family members who inherit the homestead. If the home becomes the homestead of the spouse or other family members then they shall also enjoy the same creditor protection from their creditors.

A Florida condominium was transferred to a Florida revocable trust. Upon the death of the first, the Florida Revocable Trust created a marital trust for the spouse, with the remainder to sons from a previous marriage. A few months after the condo was titled to the trust, the same condo was deeded directly to the spouse. A lawsuit ensued as to who owned the condo, the trust or the 2nd wife.

The sons won an initial victory, ensuring they would receive the condo upon the surviving spouse’s death. The surviving spouse counter-sued for reimbursement of all condo related expenses paid with her own funds, and won a money judgment against the sons. The spouse wanted the sons to transfer a percentage of the condo interest to her, and the sons wanted the trust to sell the condo to obtain money to pay the judgment against them. The sons lost.

January 16, 2011

Gay and Lesbian Couples Prepare Florida Wills and Estate Planning Documents

by Patricia Davis

Jacksonville Beach gay and lesbian couples protect their property for those they love by having their wills made. If you die in Florida intestate (without a will), your partner will not inherit from you. Without a valid Florida will, your surviving family members have 1st priority, there are no provisions for non-family members. If you want your property and assets to go to your gay or lesbian partner, make an appointment with a Jacksonville Beach Estate Planning Attorney and prepare your will to provide for those you leave behind.

Although any person who would inherit from you had no will been prepared may have standing to contest your will, it is a difficult task to undertake. There are certain elements that must be proven to show that the will may be invalid. If you fear that a family member who does not approve of your same-sex relationship may contest your Florida Will or Florida Revocable Trust , it is important to obtain legal advice as to the ways you might prevent this.

January 12, 2011

Florida Lesbians in the Workforce, Do they Earn More?

by Patricia Davis

According to an article in the New York Times, lesbians make about 6% more money than heterosexual women when factors like race, education, profession, location, and number of children are accounted for.

One theory is that “straight” women expect to end up with a husband or partner who will be the breadwinners in the family, so are more likely to make career sacrifices or focus their efforts away from the employment market. Other heterosexual married woman will give up their jobs to raise children as is often necessitated by the costs of day care (especially if their husbands earn more than them).

If you are a St. Augustine Lesbian who is in the Florida workplace, you may or may not be making more money than your heterosexual lady friends; either way, estate planning for the money you do make is important. Having a conversation with a St. Augustine Estate Planning Lawyer about your non-traditional family or same-sex partnership will provide you with various estate planning tools to insure that the hard-earned money you do make goes to those people dearest to you.

January 11, 2011

Stealing from your Grandmother’s Trust Fund?

by Patricia Davis

St. Augustine trustors establish a Florida Trust may have numerous objectives in mind. Trust assets can benefit several beneficiaries; a trust may help you avoid the probate process by funding the trust during your lifetime; and Florida trust funds can be managed by professionals. Professional management of the trust is important if the beneficiary is a minor or a mentally incompetent adult, or useful when the beneficiaries are not experienced with investing money or managing property.

In Connecticut, a man who was appointed trustee by a probate court, began to embezzle trust funds from his grandmother’s trust leaving her without enough money to live on. The grandson trustee’s transactions of investments to benefit the trust, were actually in violation of the established rules of the trust. Needless to say, the grandson is no longer trustee, and may be looking at jail time. Florida has laws that can make actions like these a crime against the elderly.

Establishing a Florida Revocable Trust is an important estate planning tool for many people regardless of their net worth. It is however, vital to speak with a St. Augustine Estate Planning Lawyer who can give invaluable advice as to your choice of trustee and successor trustee as well as the various duties, powers and limitations of the trustee.