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Intestacy occurs when someone dies without a will. Â In this instance, the individual’s property will be distributed according to state law. Also, if the person had minor children and did not prepare a designation of preneed guardian for his or her children, choice of a guardian will also be according to state law. The laws…
Couples getting married need to be aware of how marriage immediately changes property rights for both individuals. Intestacy When someone dies without a will, their estate is intestate. Without a will, the courts must rely on the laws of intestacy to determine how the individual’s assets are divided. Application of these laws changes immediately upon…
If you are getting divorced, or are already divorced, you need to be aware of how the dissolution of your marriage affects your estate plan. It is important to understand that you already have an estate plan. Either you have a will or a trust, or what the State of Florida provides which could include…
You’ve chosen a wonderful state in which to live. We certainly love it; however, any time you change your residence to a new state, there are changes that need to be made. Wills and other estate planning documents are state specific. They are controlled by the state in which you have your primary residence. If…
It has long been established in Florida that when a marriage is dissolved (divorce, dissolution or annulment), the ex-spouses are treated as having died before each other. This prevents divorced couples from inheriting from each other’s assets. Unfortunately this treatment did not extend to third party agreements such as life insurance, IRAs or death beneficiary…
Few groups have more need of estate planning than parents. Without a plan, parents will have no say to whom their children go in the event the unthinkable happens. Furthermore, parents will have no say in who manages their children’s inheritance. Finally, any assets or money left for the children will become freely available to…
Livings Wills in Sarasota Of all the documents included in an estate plan, perhaps none is as important as your living will. Unless you are a judge, this is probably the only life and death document you will ever sign. Despite its importance, very few people understand how it actually works. This is understandable, as…
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 pass automatically or outside of probate based on their character or how they were titled. There are different types of probate administration, including a full…
One of the primary purposes of Probate is to ensure creditors of the deceased individual (“decedent”) have an opportunity to make a claim against the estate. The Personal Representative (“PR”) and creditors need to pay close attention to the claims procedure as there are strict time limits and procedures involved. CLAIMS PERIOD Creditors of an…
One of the most important benefits to parents in estate planning is it allows them to name who their children would go to if they were to pass away. Who will be Appointed Without a proper designation, the court will have no guidance from the parents in naming a guardian. After the parents, the court…
With proper planning, guardianship for adults is, for the most part, avoidable. The purpose of guardianship is to allow a third person to act on behalf of an individual that has lost the ability to manage some or all of their rights. While guardianship has a noble purpose, it is rarely the best choice. Incapacity…
Corporations are one of the most commonly used business entities in the world. Properly set up, corporations limit the liability of the owners (or shareholders) to their investment in the corporation. Without this liability protection, business owners’ personal assets are subject to the debts of the business. Corporations come in three primary tax forms: C…
Limited liability companies, or LLCs, are one of the most versatile business entities available to business owners today. Like corporations, they provide limited liability to the owners. However, they can be taxed as a sole proprietorship, partnership, or Corporation. This gives incredible flexibility in choosing the most advantageous tax entity while also providing limited liability….
Contracts are agreements between persons or legal entities in which one party agrees to perform a service or provide a good in exchange for the payment of money or other goods or services. An agreement to do something is not necessarily binding. It is a binding contract if you agree to make an exchange of…
Buying a home may be the biggest single investment of your lifetime. Your life’s savings may be invested in this one venture. Thus, it is extremely important that you, the prospective buyer, use the greatest caution in buying a home. For your protection, consult a real estate lawyer before you sign a purchase contract. The…
You can’t go to jail for failing to pay a debt or a judgment. If you do not pay a debt or if a judgment is entered against you, this information can be reported to the credit bureau and made a part of your credit history. The credit bureau can report this information for seven…
CAN YOUR MARRIAGE BE SAVED? Before you take any legal steps to end your marriage, you should make sure that you have tried all possible ways to save it. Do you want professional help in working out ways to save your marriage? Many communities and social and religious organizations offer counseling services either free or…
Advance Directives are documents that allow you to name others to exercise your rights if you are ever temporarily or permanently disabled or incapacitated. They allow you to remain in control of your life. If you have not made these designations, the courts will do it for you if you lose capacity. Advance directives include:…
As a wills and trusts attorney, I feel a strong obligation to keep my conversations lite. The topics of my practice are such that the conversations are necessarily serious, so I often try to counteract that with humor and banality. However, sometimes we are faced with reality in such a way that it is evident…
Another Veterans’ Day is upon us. And as a veteran, I feel the outpouring of gratitude from my fellow Americans, and I too am grateful for my fellow veterans especially those that served during wartime. But as a veteran, I also have a great deal for which to be thankful. As a 17 year old…