Probate can be necessary or appropriate in certain cases. However, these are some common disadvantages to probate. Probate in Florida can be a lengthy process which can begin as [...]
Probate can be a good option for those who do not want to spend money during their lifetime on legal fees to prepare Trust documents. Allowing an estate to go through probate would instead cause [...]
Probate assets include assets for which the deceased person was the sole owner or jointly owned assets which lacked provisions for automatic succession of ownership at death. Non-probate [...]
Probate is a court-supervised process for identifying and gathering the assets of a deceased person, paying their debts, and distributing their assets to beneficiaries only after some of [...]
Question: Why would someone convey property using a lady bird deed? Answer: There are multiple advantages of using a Lady Bird deed. First, the transfer of the real property occurs [...]
Question: What is a ‘Lady Bird Deed’? Answer: A Lady Bird deed, or “enhanced life estate deed,” is a method for transferring an interest in real estate. With a Lady Bird deed, the owner [...]
Question: I have just taken over my parent’s trust as the successor trustee. Do I need to apply for an EIN for the trust? Answer: It depends on whether the trust has become irrevocable. If [...]
Q: Do I need an EIN for my revocable living trust? A: No. If you created a trust, funded it with your money, and reserved the right to revoke it, then the IRS does not [...]
