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...
Protecting your estate with a trustworthy executor
Finalizing your estate plan in Florida is just one part of protecting what is important to you. Equally as detrimental is naming an executor who you trust. Your executor upholds the responsibility to act on your behalf and make decisions that meet your expectations....
Who can be your personal representative if you do not choose one?
In Florida, a personal representative will close out your estate after your death. This includes tasks such as paying your bills and expenses, managing your property and distributing assets to your beneficiaries. According to The Florida Bar, you can choose an...
What if I cannot afford an estate plan?
If there is one silver lining to the craziness that was 2020, it is that many people have realized the importance of estate planning. However, according to a 2020 survey by Caring.com and YouGov, something is holding many back from actually drafting an estate plan. In...
Creating a financial power of attorney
When people create a will or trust in their estate planning, they usually include a living will or durable power of attorney as part of the estate planning documents. But another important advanced directive that sometimes gets overlooked is a financial POA that will...
