Florida Estate Planning Lawyer Blog

June 7, 2008

Florida Lady Bird Deed Forms

Where can I get a Form for Florida Lady Bird Deed is a question that I am often asked. Florida Lady Bird Deeds are generally not available on the Internet because not many Florida Lawyers even know what they are. They are also far more complex than a regular deed.

I have seen several cases where clients used Ladybird deed that were not acceptable to Title insurance companies and the families had to open probate cases to clear the title on the property after the death of the grantor.

Because of this when we created our deeds we went to many title companies to get their feedback and modified our deed and they way they are filed to be in compliance with the title companies requirements.

June 6, 2008

Cost of Florida Probate

by David M. Goldman

Florida Probate costs very based upon they type of probate, type of assets, number of creditors, number of beneficiaries and complexity of the issues involved.

Generally a simple Florida Probate which only involves a homestead is around $1500-$1800 dollars and can take 30 to 90 days on average to complete. This fee is for the legal expenses associated with a Florida Summary Administration where the descendant has been dead for more than 2 years or the assets subject to probate are less than $75,000. A homestead, join accounts, and life insurance are not counted as assets. In addition there will be court costs in the $300-400 range depending on the county and if advertising notice is required or desired.

More complex Florida Probate cases can also be handled on flat fees but many are calculated based upon a percentage of the assets subject to probate + some amount for dealing with the non-probate assets.

May 29, 2008

Attorney for Wills

by David M. Goldman

When Selecting an attorney for will preparation it is important that they take a look at your full financial condition. Often clients think they want an attorney for will preparation but in fact need other types of estate planning.

You should be prepared to give full financial disclosure as well as all information about your family dynamics to make sure that the right Florida Estate Planning Documents are created for you.

May 28, 2008

Estate Planning and Moving Overseas

by David M. Goldman

Often clients do Florida Estate Planning in anticipation of an overseas trip or international relocation. They often ask if they should make special considerations because of their anticipated location.

Generally we advise clients that the planning is basically the same even if they will be living overseas for an extended period of time. The one area where there may be differences is in their Durable Power of Attorney where it might be advisable to make changes.

These changes require an evaluation of the current and anticipated needs of the individual client and cannot be generalized.

May 27, 2008

Can Grandpa Take His Machine Gun to the Nursing Home?

by David M. Goldman

What happens if Grandpa needs to Nursing home coverage and he owns a Class3 weapon like a Machine Gun?

Title II Firearms (sold by Class 3 SOT dealers) or those controlled by the National Firearms Act are not exempt assets when it comes to Medicaid Planning.

There are ways to preserve these assets for your family but it involves converting the asset from an exempt asset to a non-exempt asset. On my other blog, Gun Trust Lawyer I wrote a Gun Trust Information article addressing this issue.

May 27, 2008

Executor, Personal Representative, PR Fees: Are They Taxable?

by David M. Goldman

If I am the PR of a Florida Estate Planning, do I have to pay income taxes on the money I receive?

The short answer is yes you do. These fees are considered an expense of the estate and unless you qualify for an exemption, you would have to report this as income on your tax return. You should speak to your accountant about where to pick this up and how this will impact your income.

If the money is paid as a distribution of assets instead of a fee, there is generally no income tax associated with the money. For estates which have a value of less than the estate tax exemption, this might be a solution.

May 23, 2008

Living Trust Mills Winding Up In Some States UPDATED

by David M. Goldman

Although there are no current verdicts against Florida Companies, many states have taken action against living Trust Scams / Trust Mills / and Elder Law Planning Seminars. Michael Bonasera of Buckingham Doolittle & Burroughs, LLP and author of the The Ohio Trust & Estate Blog wrote an article titled Living Trust Scams/Trust Mills/Elderlaw Planning Seminars – STAY AWAY! where he mentions a previous posting on this Blog, Florida Estate Planning Lawyers Blog, on a similar topic dealing with a Texarkana Arkansas class action suit.

I thought I would start a list of Living Trust Scam Articles and resources on my blog.

1. Texarkana Arkansas Living Trust Seminar Class Action suit

2. California Living Trust Mill Judgment 3.Texas Bar story reported by Professor Beyer of Wills, Trusts & Estates Prof Blog- Living trust Scams and Senior Consumer

May 21, 2008

We the People franchise found to be practicing law without a license

by David M. Goldman

There are many places to get advice on the Internet. Be sure when you are looking for legal advice, you are working with a licensed lawyer. Below is the finding of the Ohio State Bar in regards to one such service.

We the People is a franchise that provides forms and help in legal matters including wills, trusts, divorces, bankruptcy and other areas of law.

The Ohio State Bar found that they were practicing law without a license because they were owned and operated by attorneys not licenced in Ohio and advised individuals with respect to the completion of forms for filing a personal bankruptcy, application of probate, advising individuals on how to complete the forms and what answers to put down, directing individuals to execute documents and charging them for services, instructing completion of forms in disregard for proper procedures and determination by the Bankruptcy Court that the filing was incomplete, preparation of unnecessary and incorrect form for administration of an estate, preparing improperly completed forms for a bankruptcy, issuing advertisements, and advertising the preparation of services for living trusts, wills, powers of attorney, and incorporation’s.

May 16, 2008

Enhanced Life Estate Deed Question. What happens when the owner of the Remainder Interest predeceases the life tenant?

by David M. Goldman

A *Florida Enhanced Life Estate Deed or Florida LadyBird Deed (Enhanced Life Estate Deed) is designed to pass the property if any to a person upon the death of the life tenant while allowing the life tenant to do anything during their life.

What happens if the person named in the remainder interest predeceases the life tenant?

This is From A to B for life (with enhanced powers) remainder to C.

May 14, 2008

Machine gun transfer nets prison sentence

by David M. Goldman

A new Blog ( Gun Trust Lawyer ) dedicated to Gun Trusts and issues related to the ownership of Title II Firearms (sold by Class 3 SOT dealers) (which I started) has an article on a man who was arrested for an improper transfer of a unknown class 3 machine gun.

His gun misfired and was reclassified as a Machine Gun. This along with allowing a potential buyer to shoot it at a range resulted in the invalid transfer of a Class 3 Weapon, a crime punishable under the NFA with a sentence of up to 10 years in jail.

These are the types of transfers a NFA Gun Trust can help prevent.