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What Happened? When Swedish author Stieg Larsson, creator of The Girl with the Dragon Tattoo, passed away unexpectedly in 2004, he left no will. Larsson’s estate, valued at millions due to the success of his books, became the center of a legal dispute between his longtime partner, Eva Gabrielsson, and his father and brother, who…
As a Florida property owner, one of the key aspects of estate planning you need to understand is the concept of ancillary probate. While most people are familiar with the general probate process, ancillary probate applies when you own property in multiple states, including Florida. This process can add layers of complexity and cost to…
What Happened? When Pablo Picasso passed away in 1973, he left behind an estate estimated at $250 million, including artworks, real estate, and other assets. However, Picasso did not leave a will, and his complex estate became the subject of a lengthy legal battle among his six heirs. The lack of a clear plan for…
Probate is the legal process of administering a deceased person’s estate, ensuring that their assets are distributed to heirs and any debts are paid. In Florida, the probate process can vary depending on the size and complexity of the estate, but understanding the steps involved can help you navigate it more smoothly. When Is Probate…
What Happened? When music icon Prince passed away unexpectedly in 2016, he left behind a legacy of hits, cultural impact, and an estate worth an estimated $156 million. However, he did not leave behind a will. The absence of clear instructions for the distribution of his estate led to a prolonged legal struggle involving family…
As 2025 approaches, Florida’s estate planning landscape may be subject to important legal changes. While no updates have been finalized yet, several potential adjustments could impact how Floridians manage their assets and plan for the future. In this article, we’ll explore possible changes to estate planning law in Florida that could arise in 2025 and…
Estate planning laws are always evolving, and Florida is no exception. The state has recently introduced several updates that can have a significant impact on how Floridians manage and protect their estates. Staying informed is crucial for ensuring that your estate plan remains effective and compliant. In this article, we’ll cover the most recent changes…
When it comes to estate planning, choosing the right person to serve as your executor, or “personal representative” as it is called in Florida, is crucial. The personal representative is responsible for administering your estate after your death, ensuring your wishes are carried out and the probate process is handled correctly. However, this role comes…
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 leave a valid, clear will. What followed was one of the longest, most complicated probate cases in American history, lasting over 30 years. Without a…
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 who receives your assets if you pass away without a valid will in place. Understanding how these laws work is essential for anyone who wants…
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 Debrunes v. US Bank National Association holds particular significance, highlighting the requirement of opening a probate estate when seeking to foreclose on a lien within…
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 holdings is not only crucial for compliance but also for safeguarding against potential legal and financial ramifications. In the realm of estate planning, the importance…
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 in estate planning are wills and trusts. While both serve similar purposes, they have distinct features and are suitable for different circumstances. In this article,…
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. This article provides an up-to-date overview of the current status of estate and gift taxes in Florida, including information about the exemption amounts for 2023…
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 need to navigate the complexities of probate in Sarasota, it’s crucial to seek the guidance of a skilled probate attorney. This article will discuss the…
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 in Florida, you may be facing the need to go through ancillary probate in this state. The process can be confusing, but with the right…
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, understanding the steps involved in the Florida probate process is essential to ensure that everything runs smoothly. In this comprehensive guide, we will demystify the…
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 during probate or other administration, their share shall be reduced or removed. While in theory it sound like a perfectly reasonable way of preventing disputes;…
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 and Residents) Gifts Between Spouses – Unlimited (U.S. Citizens only) Nonresident Alien Estate Tax Exemption – $60,000 (may be subject to foreign treaty) Gifts to…
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 store all of your cash or valuables there? Aretha Franklin, who died in August of 2018 with a large and complex estate, and a complicated…