A Business Owner’s Considerations During Divorce

Shortly before their wedding, Mack and Julia opened a business that manufactured and distributed small electronics. Their three partners were Mack’s friends from college. After 12 years, Mack and Julia decided to divorce and began dividing up assets. As business owners, they now had to consider how to handle their business during their divorce. Basic Considerations. When it comes to dividing assets and debts in a Read More

Qualities to Look for in a Personal Representative

Choosing the right personal representative for your estate is an extremely important decision. Personal representatives take on responsibilities and duties that will affect loved ones. This is not a decision to be taken lightly, so you may want to consider some of the following qualities when looking for your ideal personal representative. Willing and Able Most of a personal representative’s duties begin as soon as Read More

Bitcoins: Will They Be Lost if You Don’t Have a Plan?

It sometimes seems we’ve been invaded by technology. From books to entertainment to education, digital is the way to go. In fact, even our wallets have been affected. Cryptocurrencies like bitcoin, though somewhat controversial, are becoming more commonplace. Aside from the digital aspect of bitcoins, you need to remember that they are an asset, potentially an estate asset. As such, you’ll need to include bitcoins or Read More

Building Your Legacy Through a Charitable Remainder Trust

For some clients, the thought of legacy extends beyond the confines of family. Donating time and money to community charities is one way to do that. An estate planning tool – the charitable remainder trust – allows people to donate while still retaining some important benefits. A Most Useful Tool – the Charitable Remainder Trust. Estate planning attorneys have many estate planning strategies and tools at their Read More

How to Handle Unusual Estate Assets

Whether a deceased person leaves a valid Florida Will or not, their possessions must go somewhere, usually through probate. During a probate proceeding, a personal representative will be appointed to settle the decedent’s affairs and dispose of their estate assets. That sounds simple on paper, but the personal representative often has a huge job ahead of them. This is especially true when the estate includes unusual Read More

What’s an Annual Accounting?

Taking on responsibility for another person can be taxing. Florida law lays out duties and responsibilities of guardians. In addition, courts often supervise guardianships, along with requiring action from the people caring for the protected person (the ward). One such example is an annual accounting, which is also known as the guardian accounting. Guardianship Requirements When a person becomes incompetent, or no Read More

DIY Estate Planning Can’t Do These Four Things

We often pride ourselves on being self-sufficient. Do-it-yourself projects abound, from painting the living room to building a deck. People choose projects for reasons ranging from the pleasure of doing something themselves to saving money. But some DIY projects may cost the consumer more in the long run. Take estate planning, for example. Websites that offer forms for common legal documents seem like a bargain, but Read More

Florida Probate System

When people engage in estate planning discussions, the subject of probate is probably going to come up. Many people actively try to avoid probate. Yet, many people have poor estate plans that don’t protect them from probate or, even worse, don’t even have an estate plan. If you find yourself in the middle of a probate proceeding, it will help to understand the Florida probate system. The Purpose of Read More

2 Reasons to Disinherit a Family Member

Family members can engage in disagreements that last for years. Some families consist of people existing at very different levels of success. Both of these factors are often taken into consideration during estate planning. They’re only two of the reasons someone might want to disinherit a family member. Sometimes, as heart breaking as it can be, parents feel they must disinherit a child. It could be that the Read More