Common Belief 1: My lawyer will have my will read aloud to my family. This is one of the more enduring myths about Wills that owes its existence to its repeated use in movies and popular fiction. The dramatic scene where your lawyer reads the terms of your Will to your family and suddenly everybody becomes aware of your wishes is almost entirely fictitious. There is no legal requirement in any … [Read more...] about 3 Common Beliefs About Wills That Are (Nearly) Completely Baseless
Question 1: What is the personal property letter? A personal property letter, also called a personal property distribution letter, is a document you create that accompanies your last Will and testament. The document itself sets out who you want to receive your personal property, a category that includes such items as family heirlooms, books, photographs and other assets not specifically accounted … [Read more...] about Personal Property Letters: 3 Common Questions
Part of creating an estate plan or creating a will in Port St. Lucie FL & Vero Beach FL is sitting down and deciding who you want to receive your property after you die. For an art collector, this decision-making process poses several distinct challenges that others may not encounter. If you have an art collection, especially one that is a significant portion of your estate's value, you need … [Read more...] about Estate Planning For Your Art Collection – 2 Useful Tips
If you die with a written will in Florida, you die testate, and your will dictates who inherits your property. If you die without a will, your state’s intestacy laws govern the disposition of your probate property. The Florida Statutes provide an order of priority establishing who has a right to receive your property when a decedent dies without a written will. A personal representative or named … [Read more...] about An Overview of Florida’s Probate Procedures: Part 1 of 3
No Will? You’re Not Alone. But Not Having One Can Lead to a Lot of Problems Some people pass away without having a Will in place. In some cases that may not result in a long, drawn-out battle in the courts. But more often than not, it does. Guess what these famous people had in common when they died? 1. Michael Jackson 2. Abraham Lincoln 3. Bob Marley 4. Howard … [Read more...] about No Will? You’re Not Alone. But Not Having One Can Lead to a Lot of Problems
If you have children, one of the most important parts of your estate plan is your Will, with which you nominate a guardian to care for your kids in the event both you and your spouse pass away. Many parents make a Will naming a guardian while their kids are babies or toddlers, and never reevaluate their choice. This is not a good move. Think about how many things change in a family’s life between … [Read more...] about Updated Your Choice of Guardian Lately?
Not too long ago, a blog post caught my attention. It’s entitled Estate Planning So Your Executor Doesn't Desecrate Your Grave. In it, Andrea, the author, gives a compelling argument for getting yourself organized so that you don’t leave a mess for your family to clean up. Her estranged father, unfortunately, left behind an estate that was completely disorganized – no Will, no guidance as to … [Read more...] about The Lists You Need to Make