An adult who plans to leave an inheritance for specific people wants each bequest to have a positive impact. The resources that someone leaves behind when they die can help their loved ones enjoy a more comfortable standard of living. Unfortunately, an inheritance is...
What constitutes a lack of capacity for those planning an estate?
Most adults in Florida have the option of creating an estate plan. They can draft documents arranging for the support of their loved ones and describing what should happen to their property when they die. The Florida probate courts expect the personal representative...
How do wills and trusts differ?
An adult who is creating an estate plan is faced with many decisions. One of these involves determining how to better ensure that their assets are passed down to their intended recipients effectively. While it’s possible to give some assets away before they pass away,...
When should someone make changes to their existing estate plan?
Those who have created thorough estate plans are already ahead of the proverbial curve. It is quite common for adults to procrastinate about estate planning, a choice that might eventually mean someone dies without an estate plan on record. For those who have created...
How do irrevocable trusts work in an estate plan?
Irrevocable trusts are an important tool in estate planning because they offer a range of benefits to the creators of the trusts and their beneficiaries. Unlike revocable trusts, irrevocable trusts can’t be altered, amended or terminated once created absent the...
When is there risk of undue influence on an estate plan?
There are only a handful of legal reasons for those who have lost a loved one to challenge the deceased’s estate plan. Contesting a will in probate court can only occur when someone has a viable justification for doing so. Sometimes, family members can prove to the...
Understanding fiduciaries in estate planning
Estate planning is essential for safeguarding your financial future and the well-being of your loved ones. Fiduciaries are crucial in managing and distributing assets for incapacitated or deceased individuals. Fiduciaries are legally bound to prioritize the best...