It's common for Florida residents to leave behind property after they pass away. But what happens when someone leaves behind a property in another state? To solve this issue, an out-of-state property must go through ancillary probate. Here's a closer look at the...
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Lake Mary Estate Planning Blog
Tips For Choosing An Executor For Your Will
The job of an executor in Florida is complex and demanding. This person will be responsible for initiating the probate process, notifying your family, relatives, and creditors of your death, paying taxes and other expenses you might have and distributing assets to...
Long-Term Care Planning Reduces Stress On Your Older Family Members
Long-term care is a vital issue for Florida families. Concerns about nursing homes and assisted living communities have people carefully considering their options. Costs are a significant concern because elder care is expensive. Senior care can burn through savings...
Legal Procedures For Determining Incapacity
A person in Florida who lacks the ability to make decisions for him or herself may be granted a guardian. A family court can intervene to determine the mental and physical state of the individual and decide the next step to take. There are certain procedures that the...
Mistakes To Avoid When Writing A Will
Most people have never created wills or have no plans to create one, so they're expected to make mistakes when it's finally time to write down plans for their estate. Here are some common mistakes and how to avoid them. Choosing a will instead of a trust A will...
Encouraging Parents To Talk About Their Estate
Consulting your parents about their own money might seem counterintuitive. What is even more unexpected are the risks that estates face when they’re transferred without a plan. Estate planning in Florida isn’t reserved for residents with hundreds of millions in...
Understanding Powers Of Attorney In Florida
When it comes to estate planning, several important documents need to be put in place. One of the most important ones is a power of attorney, which foresees the possibility that you may become incapacitated and won't be able to make decisions for yourself. What is a...
Revocable Living Trusts And How They Work In Florida
Are you considering your options for estate planning in Florida? You may have looked into trusts, specifically revocable living trusts. What is a revocable living trust? A revocable living trust is a legal document that allows you to transfer ownership of your...
Is A Revocable Living Trust Right For You?
Establishing a trust can be an effective asset protection maneuver. For many people in Florida with disposable assets that need protection from tax evaluation and other exposure, trusts are indeed good financial tools. However, true protection often only comes when a...
Using An Estate Plan Is Best When Leaving Assets To Beneficiaries
No matter where you reside in Florida, having a plan for your assets after you're gone is essential. Estate planning can provide you with peace of mind because you'll know that your loved ones will have financial security after you've passed away. Understanding a few...