The Infamous Battle Over Howard Hughes’ Estate
What Happened? Howard Hughes, the eccentric billionaire and aviation mogul, passed away in 1976, leaving behind an estate estimated at over $2 billion. Despite his immense wealth, Hughes failed to […]
Category Archives: Probate
What Happens if You Die Without a Will in Florida?
Dying without a will, known as “intestate,” can complicate the process of distributing your assets and determining who will inherit your estate. In Florida, the state’s intestacy laws will determine […]
The Importance of Opening a Probate Estate for Foreclosing on a Mortgage or Other Lien in Florida
Navigating the intricacies of Florida probate law is essential for creditors seeking to enforce their rights, particularly in matters of foreclosure and lien enforcement. In this regard, the case of […]
Understanding the Importance of Reporting Foreign Assets for U.S. Taxpayers
In an increasingly interconnected world, individuals often find themselves navigating complex financial landscapes that extend beyond domestic borders. For U.S. taxpayers with assets abroad, understanding the intricacies of reporting these […]
Understanding the Differences Between Wills and Trusts in Estate Planning
Introduction: Estate planning is a crucial process that allows individuals to safeguard their assets and provide for the distribution of their property after they pass away. Two common tools used […]
The Current Status of Estate and Gift Taxes in Florida: An Updated Overview for 2023 and 2024
Introduction Estate and gift taxes are crucial aspects of wealth and asset planning, and they often vary from state to state. In Florida, these taxes have seen changes over time. […]
Navigating Probate in Sarasota: Why You Need a Probate Attorney
Introduction Probate is a legal process that can be emotionally and financially challenging, especially during a time of grief and loss. If you find yourself in a situation where you […]
Ancillary Probate in Florida: Your Key to Understanding the Multi-State Estate Process
Ancillary probate is a legal process often necessary when a deceased person owns property in multiple states. If you have recently lost a loved one and they owned real property […]
Florida Probate Process Simplified: A Clear and Comprehensive Guide
The Florida probate process can be a confusing and overwhelming experience for those who are going through it for the first time. If you are an executor or a beneficiary, […]
No Contest Clauses in Florida
A No Contest Clause, or In Terrorem Clause, is a provision often used in Wills & Trusts stating that if a beneficiary disputes any part of the Will or Trust […]
Incorporating Your Business Into Your Florida Estate Plan
Small businesses present a particular challenge to Florida Estate Planners. First off, businesses can operate in a wide variety of entities. Secondly, they may be more valuable being carried on […]
Estate and Gift Tax Exemptions 2022
As of 2022, the following Estate and Gift tax exemptions are in effect: Estate Tax Exemption – $12,060,000 (U.S. Citizens and Residents) Annual Gift Tax Exemption – $16,000 (U.S. Citizens […]
Aretha Franklin’s Will Found in Sofa
By Susan Teel Are you storing your will under the sofa cushions? Have you considered the best storage location for your will – your most important financial document? Would you […]
Estate and Gift Tax Exemptions 2019
As of 2019, the following Estate and Gift tax exemptions are in effect: Estate Tax Exemption – $11,400,000 (U.S. Citizens and Residents) Annual Gift Tax Exemption – $15,000 (U.S. Citizens […]
Probate & The Florida Wrongful Death Act
Wrongful death claims in Florida always require a probate administration. This is true whether it’s because of accident or medical malpractice. Florida’s Wrongful Death Act requires a wrongful death action […]
Repeal of the Death Tax Will Harm 99% of Americans
Many Americans are against the so-called death tax (estate tax) as an unfair tax. But the reality is more than 99% of Americans benefit from the estate tax. If you […]
Do Trusts Really Avoid Probate?
The simple answer is no. Trusts by themselves do not avoid probate, but they make probate avoidance possible. Think of the trust agreement as a box. Anything put in the […]
Formal Probate Administration
If someone dies owning assets in his or her name alone (“probatable assets”), there must be a probate court proceeding to determine who is to receive the assets. In other […]
Summary Probate Administration
If someone dies owning assets in his or her name alone (“probatable assets”), there must be a probate court proceeding to determine who is to receive the assets. In other […]
Probate & Probate Avoidance
When an individual dies in Florida or while owning real property in Florida, probate is the procedure used to transfer his or her assets to the proper heirs. Some assets […]