Many people are interested in protecting their assets from creditors. While the discussion frequently arises as part of estate planning, the techniques for protecting assets are not the same techniques used in the standard estate plan. The first step in evaluating whether one needs to protect assets is to review how assets are held because […]
Some myths persist in regard to wills, probate and property ownership. Therefore, probate lawyers want you to know the following are TRUE STATEMENTS: Probate is not a dirty word. It is the court-monitored administration of an estate. Whether or not one has a will does not affect whether probate will be required. Property passing according […]
There’s never a wrong time to start thinking about wills, trusts, and the kind of legacy you want to leave behind. If tax season has you reevaluating your financial situation, or you simply want to ensure that you’re doing as much as you can for the people you love, now is a great opportunity to […]
I am scheduled to be part of a panel presenting at the Kim C. Hammond Justice Center in the 1st floor jury assembly room, 1769 E. Moody Blvd., Building #1, Bunnell, FL on Wednesday, April 26th from 5:00 p.m. to 7:00 p.m. to educate the public about probate and estate planning.
A client says, “I want to leave everything to my daughter when I die, no strings attached. Oh, and if she dies, gets divorced or gets sued, I want it protected.” The client does not realize the request is contradictory. Unless specific language is added to a will or trust holding the assets in trust […]
Many people have the misconception that a will avoids probate. This is incorrect. Probate is a court process that is required when a person dies owning assets in the decedent’s own name, and with no beneficiaries to receive the assets. It can be required if the deceased person left a will, and it can be […]
When someone dies, there are numerous tasks that must be completed, which can sometimes be a burden on family members during such a difficult time. A person can be proactive by planning andpaying for his/her final arrangements while still alive. This reduces the burden on family members,and assures that your wishes are carried out. After […]
People often think that placing their assets into a trust for their own benefit in Florida makes the assets inaccessible to creditors, taxing authorities and nursing homes, but that is not true. A self-settled trust in Florida, whether revocable or irrevocable, does not remove the assets from access by one’s creditors, Medicaid qualification rules or […]
Upon divorce, a marital settlement agreement states how joint assets shall be distributed. However, in the event of death prior to changing the beneficiary designation, it is important to know how assetswill be distributed. Prior to 2012, absent a marital settlement agreement specifying a beneficiary of the asset, the courts only had to look at […]
People frequently want to transfer all or part of their accounts or real estate to their children, relatives, or others. Generally, they wish to plan for Medicaid benefits, avoid probate, or avoid taxes.Often, such transfers are mistakes. We frequently hear from people who want to reverse a transfer, only to find out it is not […]
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