A Power of Attorney, like a Trust, does not need to be registered or recorded in the public records in order to be effective. It does have to be in writing, signed, witnessed and notarized. However, once your agent is appointed via a valid Power of Attorney, he or she simply has to present the document at the institution where business is to be transacted on your behalf. For instance, if your … [Read more...] about Must a Power of Attorney be Registered or Recorded?
Sometimes it seems like you need to learn a whole new vocabulary in order to understand your estate plan. One term you hear frequently in the context of estate planning is “fiduciary.” Do you know exactly what it means? A fiduciary is a person or an entity (like a business or an association) that manages assets or holds power on behalf of and for the benefit of another person. A fiduciary has the … [Read more...] about Estate Planning Term: Fiduciary
If you’re a partner in a same-sex couple here in Florida, you know that if one partner becomes ill or passes away, the life you’ve worked to build together could be in jeopardy. Florida law doesn’t contain any default provisions that let unmarried partners inherit from each other. Similarly, Florida law does not contain any default provisions that allow one unmarried partner to make medical or … [Read more...] about Three Estate Planning Concerns for Same Sex Couples
Unless you have your assets in a living trust, they must go through probate upon your death. Probate allows the courts to oversee the distribution of your assets and ensure that your estate is divided among your heirs appropriately. In the estate planning world, this is known as “death probate.” But there’s another kind of probate that many people aren’t aware of – “living probate” – and it’s a … [Read more...] about What is Living Probate?