Estate planning might sound like something that you don’t have to worry about until later in life. However, making a plan later in life, when you’re 55 or older, could be disadvantageous to you. Assets transferred on your death may be subject to estate taxes, and...
Estate Planning
Can you place conditions on gifts left in your will?
In the state of Florida, the legal system allows for various types of inheritance conditions. These conditions serve as a strategic means for testators to shape the disbursement of their estate, ensuring the precise execution of their wishes. If you wish to place...
Is it time to write a will?
Discussing a will can be emotionally challenging. Mortality, end-of-life plans and distributing wealth are always sensitive topics for everyone. However, it could get more complex and demanding when an individual leaves the world without a will. A will is an...
3 common reasons people contest wills
In the aftermath of a loved one's passing, the distribution of their assets through a will should ideally bring closure and unity to a family. However, reality often unfolds differently, with family members contesting wills for various reasons. 1. Unequal distribution...
What are the tax-related duties of a personal representative?
When making plans concerning your estate, you could already have someone in mind as the personal representative. This person conducts tasks on your behalf, affecting the estate you left behind after death. This role has an extensive list of duties, including...
Medical power of attorney is an essential part of any estate plan
Even the healthiest people may eventually develop a medical condition or illness that prevents them from caring for themselves. That is why it is so important to prepare for this possibility by choosing someone to make medical decisions on your behalf if you are no...
If I want to avoid probate, how can I do it in my estate plan?
If you are thinking about estate planning or already started, you likely have run into the term probate. This is a legal process in court that can devolve into litigation. As a result, the probate process can quickly become a costly and time-consuming process. Plus,...
How does undue influence invalidate a will?
The court must determine if a will is valid and legitimate before authorizing an estate administrator to execute the will's instructions. For a will to be valid, the testator must have been of sound mind and body when they signed it. However, some people, even family...
What are the limitations of a power of attorney?
Individuals often seek to ensure their personal and financial matters remain in trusted hands, especially when they cannot handle them personally. A power of attorney is a legal document that allows someone (the principal) to grant another person (the agent) the...
The right of self-determination in Florida estate planning
We have a fundamental right to govern our lives and live it how we choose. However, the mental capacity to govern our lives diminishes because of the inevitability of illness, severe trauma and aging. Florida law allows us to prepare for when that happens. According...