Florida law appears to recognize an LLC Member’s right to control the disposition of his or her membership interest in an LLC upon death, without judicial intervention via a probate administration. One of the goals of many clients seeking estate planning advice from a lawyer is how to avoid probate. The attorney may suggest different […]
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Let’s say a loved one has just died. Maybe a parent, sibling or a friend, and you know that you were named a beneficiary of that person’s estate or believe that that person has designated you the personal representative (executor) of his or her estate. You locate a copy of the will somewhere amidst the
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People often ask if a Will is absolutely necessary. The answer is almost always yes. There are so many factors to consider depending on the type of property involved and the identity of the heirs, whether homestead property is involved, but Generally speaking, it is best to always have a will as a back-up, even
Fund the Revocable Trust I have seen a number of clients come through the office over the past few months who, usually in the process of trying to sell an inherited home, that either through oversight, or lack of information given to them by the attorneys who assisted them with their estate planning documents, failed
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Florida law affords the surviving spouse of a decedent a variety of property rights. A brief description of these inheritance rights follows:Right to exempt property. The surviving spouse is entitled to exempt property comprised of household furnishings, furniture and appliances up to a value of $20,000.00. What this means is that the spouse not only
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Many people unfamiliar with trusts are under the impression that all trusts protect an individual’s assets from the reach of his or her creditors. This is not so. For example, a revocable trust provides absolutely no protection from a settlor’s creditors. Creditors can reach the full value of the property held within the trust to
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A lady bird deed, also known as an enhanced life estate deed, is a form of conveyance used in estate planning relating to the transfer of real property. A lady bird deed allows a property owner to transfer property to the person designated in the deed without the need for probate. It is essentially the
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When the lifetime exclusion amount was only around $600,000.00 and prior to the ability of a spouse to port or use the deceased spouse’s unused exclusion amount in her own estate, it was crucial to take advantage of the first spouse to die’s exclusion amounts or it was forever lost. With exclusion amounts near 13,000,000,
is credit shelter planning still necessary Read More »