The changing of a remainderman in Florida can be complex and tricky business, however, here
Can a Personal Representative of an Estate Administer Property Before Receiving Letters of Administration in Florida?
Part of administering an estate upon a person’s passing involves the distribution of their assets
Probate is a court process that is used to determine the authenticity of a will as well as to administer the estate of the deceased individual. Through probate, the court supervises the payment of all the debts of the decedent to his creditors. Subsequently, the court administers the distribution of the assets of the estate to its beneficiaries in accordance with the will of the decedent. In case of an absence of the will, the court will arrange the asset distribution according to the laws of intestacy of the applicable state.
Avoiding probate is usually something most (if not all) estate planning attorneys advocate for several
While the show is fictional, the reality is that succession planning is an important aspect of estate planning that should be fully integrated into your plan, especially for business owners. A solid estate plan not only provides for the disposition of your assets upon your passing but also plans for someone to take your place (a successor) when you are no longer able to perform your responsibilities due to incapacity or death.
The primary probate proceeding is usually held in the decedent’s state of residence or home state. However, a state probate court only has authority over property in its own jurisdiction; it does not have the power to issue orders for property that is located in another state. Therefore, an additional probate proceeding becomes necessary.
Car ownership should always be considered when thinking of estate planning. There are different options to how a person should approach dealing with their vehicle and an estate plan.
Often times, payments still need to be made and the payments become the responsibility of the deceased car lessee’s estate. Sometimes car dealerships will negotiate with the personal representative of the deceased’s estate and may be able to transfer the remaining lease to another person.
The personal representative you appoint will be the person in charge of handling your estate once you pass. This individual has vast responsibilities and powers; therefore, your personal representative should be someone that you trust.
In Florida, for a will to be valid it must be in writing, signed by the party seeking to create the will (the testator), the testator must have the mental competence to sign the will, and it must be signed by two witnesses to the execution of the will.
Probate is the process after a person passes or becomes disabled; their assets are put on hold until the will is validated, any remaining debt is paid off, and the beneficiaries of the will are identified. Probate can be a long and stressful process, especially after such a difficult time. Non-probate assets avoid this long, costly process and pass directly to a decedent’s heirs.
What is a special needs trust? A special needs trust is established to provide for
A lady bird deed (called an enhanced life estate deed in Florida) is a relatively new form of deed that—like a traditional life estate deed—allows property to pass automatically to one or more designated recipients at death, without the need for probate.