Category Archives: Estate Planning
Tips for Estimating the Value of a Deceased Person’s Real Estate
If you are the executor of an estate that includes a house or another piece of real estate, you will need to figure out exactly how much it is worth. The value of the property could affect estate taxes, along with the probate and asset division processes. In many cases, inheritors will put the… Read More »
How to Choose Which Person Will Have Power of Attorney
At some point, your estate plan is going to become outdated. This will likely happen when your children become grown, your financial condition changes or when you reach retirement. When your own personal situation changes, it’s important to make sure you make the corresponding changes in your estate plan, as well. The following are… Read More »
Why it’s Important to Make Sure Wills and Trusts are Updated
At some point, your estate plan is going to become outdated. This will likely happen when your children become grown, your financial condition changes or when you reach retirement. When your own personal situation changes, it’s important to make sure you make the corresponding changes in your estate plan, as well. The following are… Read More »
When to Update Your Will
By regularly reviewing your will and ensuring it is properly updated, you lessen the risk of an inheritance dispute occurring over your estate. Here are some events that warrant a possible update of your estate planning documents: The changing family scene If new children or grandchildren are born or adopted, or if a child… Read More »
Avoiding Probate
When you pass away, your property generally passes either to the beneficiaries you have named in your will, or under Florida’s intestacy rules, if there is no will. The process of distributing a deceased person’s estate is called probate and it can be time-consuming and costly. There are ways to avoid the probate process… Read More »
Common Will Mistakes
Sadly, families sometimes fight over an inheritance. The reported court battle taking place between Revlon heiress Samantha Perelman and her uncle James Cohen is one such example. It appears Ms. Perelman is claiming that her uncle used undue influence in order to squeeze her out of her grandfather’s will. One way to reduce the… Read More »
Probating a Copy of a Lost Will
The Washington Post reports that the Spanish city of La Coruna is trying to track down the person who lost a lottery ticket worth $6.3 million. Anyone attempting to claim the money will need to satisfy authorities that he or she is the true owner of the lost ticket, which might not be an… Read More »
The Appointment of a Personal Representative
In Florida, the person appointed by the court to administer a decedent’s estate is known as a personal representative. You nominate a personal representative in your will. In some states the person nominated is referred to as an executor (female: executrix), but this term is no longer used in Florida. You should nominate a… Read More »
Simultaneous Death Law
Tragically, reports of several members of the same family being killed in an accident are not uncommon. One such example is the recent report of five family members who were killed by a rockslide while they were hiking in Colorado. In cases such as this, it is often impossible to know which family member… Read More »
Can I Disinherit My Child?
Television producer and personality Simon Cowell has reportedly stated that he intends to leave his fortune to charity rather than to his son. People choose to disinherit their children for a variety of reasons, and if you wish to do so you should prepare a will. Make a will By preparing a will, you… Read More »