You have worked hard for the assets you have acquired during your life. Like many other Floridians, you want to leave some of your wealth to your children, other relatives, friends or favorite charities. Drafting a comprehensive estate plan helps to ensure your assets...
Do estates require formal probate?
In addition to grieving their losses and making funeral arrangements, families must often handle the final affairs of recently deceased loved ones. Much of this occurs through the court-supervised process known as probate. A potentially extended process, not all...
Will appointing co-executors help my estate?
You probably want an adult child to take up the duties of being your personal representative after you die, but you know that the job of an executor may be a heavy burden. There are many different responsibilities that go along with being an estate executor. A...
Can you face lawsuits for mismanaging an estate?
When someone names you the personal representative over his or her Florida estate, you must recognize that the role brings with it many responsibilities. There are rules and guidelines dictating how you must manage and close the estate, notify creditors and...
What do you know about avoiding probate?
A loved one asked you to serve as her or his estate administrator. While researching the role's duties, you learn about probate administration and how the process may drag on longer than necessary. The American Bar Association discusses whether it makes sense to skip...
How might my assets end up in a probate court dispute?
An individual may create a living trust and then neglect to transfer his or her assets into it. As noted by Kiplinger's Personal Finance, your property does not automatically belong to the trust; you need to place your funds and properties in it and regularly audit...
How can letters of instruction help your executor?
Whoever you choose to be your executor will have many tasks to deal with. Those who inherit from you should receive their inheritance in a timely manner, so anything that can help your executor process your estate could be important. You might make probate more...
The personal representative plays a big role in probate
When someone dies, the estate goes through probate, which is a court-supervised process managing and closing the estate. Certain assets must go through probate, while others do not. Although a judge oversees the process, a personal representative is in charge of most...
Should I put my adult child’s name on my deed?
It is likely that one of the most expensive assets you own is your primary living residence. Much of estate planning focuses on dealing with property and passing it down in a way that minimizes time in probate and taxes the heirs pay on it. To this end, some Americans...
The Florida probate process: What you should know
There are many issues to consider when organizing and planning your estate in Florida. While you want to account for all your property and assets, it may be beneficial to consider making it easier for your close friends and loved ones to handle your estate once you...
