A trust is one of the most popular additions to any comprehensive estate plan. Before you can decide if a trust is right for you estate plan, however, you need to understand how they operate and which type of trust is best for which type of estate planning goal. For example, when should you use an irrevocable living trust? The best way to determine which type of trust is best for your estate plan … [Read more...] about When Should I Use an Irrevocable Living Trust?
How Wills and Trusts Work Together
When you think of creating an estate plan you likely think of a Last Will and Testament. While your Last Will and Testament will undoubtedly serve as the foundation for your comprehensive estate plan, it should not be the sum total of your plan. On the contrary, a variety of estate planning tools and strategies may be incorporated into your plan in order to achieve all of your estate planning … [Read more...] about How Wills and Trusts Work Together
Why, and How, Wills and Trusts Work so Well Together
Wills and trusts are probably the two most commonly created estate planning tools today; and for good reason. A good last will and testament provides a range of options and protections, while a good trust or two provide similar benefits. But, when you use the two tools together, they often compliment and enhance the protections provided by each. Understanding why a will and a trust are so … [Read more...] about Why, and How, Wills and Trusts Work so Well Together
Get Started on Estate Planning in Florida by Making a Will
If you live in Florida and have decided to make 2016 year you finally get started on estate planning, your first step will likely be making a will. Many people begin the new year by deciding to finally get a start on their estate planning efforts. The first step in this process is typically making a last will and testament, though there are many other steps involved in making a comprehensive plan. … [Read more...] about Get Started on Estate Planning in Florida by Making a Will
Deciding Between Single and Co-Executors in Port St Lucie Florida
Choosing the right person to serve in the all-important role of estate executor is one of the more important decisions you have to make when you create a last will and testament in Florida. Also known as a personal representative, your executor has to be able to perform several duties at once. Not only will the executor have to look after the estate property you leave behind, but he or she will … [Read more...] about Deciding Between Single and Co-Executors in Port St Lucie Florida
Why Your Estate Plan Will Include a Will and a Living Trust
Sometimes people ask estate planning attorneys questions about wills or living trusts that reflect common misunderstanding of what these two tools are designed to do. When you and your estate planning lawyer create an estate plan, you will decide on some specific elements to include that will allow you to address each of your needs. Depending on your particular circumstances, the tools you decide … [Read more...] about Why Your Estate Plan Will Include a Will and a Living Trust
DIY Will Problematic for Woman’s Estate
We’ve written about the potential dangers of using DIY estate planning tools in the past, but a new story once again highlights the issue. While there is nothing fundamentally unsound about creating your own estate planning tools, you should only do so with the advice and guidance of an experienced estate planning lawyer. Even if your goal is to save money, creating a tool using DIY products can … [Read more...] about DIY Will Problematic for Woman’s Estate
Florida Law and Unmarried Domestic Partners: Part 3 of 3
In the last two blogs, we covered the lack of legal rights that unmarried cohabitants have in Florida, including the rights to receive probate assets at one partner’s death without a legally binding will. The lack of probate rights extends to children of your domestic partner, even if you raised them together. A child of two domestic partners may have legal rights to inherit property if you … [Read more...] about Florida Law and Unmarried Domestic Partners: Part 3 of 3
Florida Law and Unmarried Domestic Partners: Part 2 of 3
Continuing our discussion from the previous blog entry regarding the lack of estate planning and property rights that unmarried domestic partners have under Florida law, we will cover what happens if you fail to draft a legally valid will or die without first creating a will pursuant to the Florida laws of intestate succession. If you are in a domestic partnership with another individual, but … [Read more...] about Florida Law and Unmarried Domestic Partners: Part 2 of 3
Florida Law and Unmarried Domestic Partners: Part 1 of 3
In several states, state legislatures enacted laws allowing same-sex partners and opposite-sex domestic partners to register their partnerships and receive some legal rights and protections. In Florida, the Legislature does not recognize domestic partnerships between unmarried same-sex and opposite-sex residents. Thus, if you live in Florida, your unmarried domestic partner will not receive any … [Read more...] about Florida Law and Unmarried Domestic Partners: Part 1 of 3
