No, a testamentary trust is usually created by a person’s will and has assets transferred to it during the probate process. These assets are then distributed by the trustee according to the [...]
Florida law does not allow for a total disinheritance of a surviving spouse or surviving minor children. These family members have the right to claim an “elective share” of assets which usually [...]
A children’s trust or a standby trust for minors can be set up to help manage the inheritance of a beneficiary who is underage. If a beneficiary is not 18 or another minimum age chosen by the [...]
Letters of Administration are issued by probate judges and name a personal representative to act on behalf of an estate during probate proceedings. Many times, these letters are requested by [...]
Financial accounts can be set up to designate a person to whom the funds are payable on death, meaning the named beneficiary can claim the funds without going through the probate process. If you [...]
In Florida, married couples can hold jointly owned property as tenants by the entirety which can help couples to avoid probate and protect one spouse from creditors of the other. When someone [...]
Becoming a Florida Resident can lead to significant benefits in access to both beautiful beaches and tax benefits. One of the most important steps to becoming a resident is submitting a [...]
Being married does not give your spouse the ability to make financial decisions for you, such as accessing your IRA. In order to grant your spouse or another trusted individual those rights, you [...]
When a minor child inherits assets in Florida, their parent or guardian does not have the authority to settle, collect, receive, or manage real or personal property if the total assets exceed [...]
Per stirpes is a Latin phrase used in wills to mean that an asset will be passed to the heirs of designated beneficiaries if the beneficiaries themselves die. If someone plans to leave assets to [...]
