When Kevin passed away, he left an estate worth $3 million, property he owned separately, property owned jointly with his second wife, and both minor and adult children. He had not consulted with an estate planning attorney for many years, so his estate plan was not as current or up-to-date as it should have been. As...

Probate can become complicated, especially when an out-of-state personal representative is involved. What is a personal representative? The person who takes on the responsibility of shepherding an estate through probate is a personal representative. This person is also sometimes referred to as the executor. Someone who wants to serve as a personal representative must: Be at...

The thought of leaving a nice inheritance for your loved ones may bring a smile to your face. However, for some, it may cause a few worry lines instead. When you take a realistic look at your heirs, do you see any who may not benefit from a lump sum inheritance? If so, can a spendthrift...

The person who executes or administers (the preferred term) an estate during probate is usually called the personal representative. The jobs of getting an estate through probate may seem simple. However, estates vary greatly in value and complexity. Generally, though, there are at least 6 steps to take when administering an estate. #1 Obtain Multiple Copies...

Many couples do all their financial and estate planning together. It seems expedient and keeps both of them completely informed. But is this always a good idea? Are there times when a husband and wife need separate Wills? Separate Wills, The Key To His and Hers Estate Planning A joint Will is a single legal document...

Dividing estate assets can be a thorny problem. In addition to a deceased person’s Will – assuming they prepared one – personal representatives and heirs may tackle family allowance eligibility, homestead laws, unusual Wills, and beneficiary designations that have not been updated for years. Add the following to that list of issues: the Florida Elective Share....

When someone dies, they leave behind heirs and sometimes a surviving spouse. Sometimes surviving spouses may be dismayed to learn they have been disinherited by the decedent, left a smaller share than expected, or simply not mentioned. When this happens, the surviving spouse may be able to claim an elective share of their spouse’s estate. What...

Choosing the right tool often requires specific knowledge. You have to know what you want to accomplish and what the tool can do. When preparing your estate plan, you have a number of tools from which to choose, including revocable and irrevocable trusts. Both offer advantages and disadvantages. However, in a direct, head-to-head face off –...

In her long and illustrious career, Aretha Franklin hit many milestones:  first female artist inducted into the Rock and Roll Hall of Fame, winner of 18 Grammys and a host of chart-topping albums and singles. When she passed away on August 16, 2018, she was added to the long list of celebrities who failed to leave...

While it may be a risky mistake to fail to do any estate planning, it is never too late to start.  Life moves fast, and sometimes we don’t think much about retirement until it’s almost there. You may have been contributing to retirement accounts for years. What about your estate planning? Can elder law and estate...