When a Florida resident passes away, their estate will likely go through a process called probate. During probate, the last will and testament is validated and the estate’s creditors are paid before assets are distributed to the decedent’s heirs. Wills can be...
Estate planning during tough economic times
The U.S. economy regularly experiences recessions and other periods of decline. While there is not much most of us in Florida can do to prevent economic downturns, we can control how we react to them. There are things we can do to minimize the damage to our personal...
How to talk to your spouse about estate planning
Estate planning often remains a topic that people avoid talking about. But spouses and families need to discuss this challenging and, sometimes, uncomfortable topic, which addresses your mortality along with the needs of the family. In talking with your spouse, he or...
Choosing the right executor: What to look for
Choosing the executor for your Florida estate should not be taken lightly. This decision can affect the management and distribution of your assets, so it's crucial to choose a person who is capable and trustworthy to handle the job. Essential traits The following...
How could divorce change your estate plan?
Getting divorced is never as simple as signing a piece of paper. First, the emotional and psychological adjustment to the end of your marriage can take a long time. From the legal perspective, it can feel like there are a thousand things you must do before your...
5 things you need to know about creating medical directives
Your estate plan must go beyond addressing money and assets. An effective estate plan also should have advance medical directives, which include important legal documents related to the medical care you will or will not accept. Granted, it may make you uneasy to...
The basics of beneficiary designations in Florida
When estate planning, it is important to pay attention to beneficiary designations, which determine who will receive your assets when you die. This is often one of the most overlooked aspects of estate planning, but it can be one of the most important. What are...
What is a special needs trust, and how does it work?
Many Florida residents have family members who are disabled. If you are one of them, you might want to consider creating a special needs trust for your loved one. What is a special needs trust? A special needs trust is a legal arrangement that allows a person with...
How your will should change after remarriage and stepchildren
Upon remarriage, an astute person knows that this represents one of the many times to update a will as part of an estate plan. Remarriage is a life change that signals the need to revise your will. Other times include the birth of a child, divorce, death of a...
Who should be the executor of your estate?
Estate planning is a serious decision that everyone should consider. Despite how important it is, less than 60% of Americans have an estate plan. Part of estate planning includes deciding who will act as your estate administrator. Estate administration is a serious...