If you’re considering creating a living trust, there are some things you should know about the tax implications after you pass away. Learn more about Florida living trusts and taxes below.  What Is a Revocable Living Trust? A revocable living trust is a fiduciary arrangement where the grantor names themself trustees and can manage, amend,…

The probate process can be expensive, time-consuming, and emotionally draining. Fortunately, estate planning involves setting up probate avoidance safeguards. Read on to learn what legal instruments can help your assets and heirs stay clear of probate. What Is Probate? Probate is a legal procedure that may take place after you pass away. During this process,…

Estate planning attorneys in Florida often encounter many misconceptions when it comes to wills. A will is a legal document that provides instructions for the distribution of a person’s assets upon their death. It is an essential tool for ensuring that one’s assets are distributed in accordance with their wishes. At its most basic, a…

Specialized laws determine what happens when you die without a valid will or trust in place. Although rumors circulated that the government can take your property if you don’t have a will, this only happens in rare circumstances. The biggest problem with not having a will is that your loved ones will be uncertain about…

When you die, the estate you leave behind must go through the probate process unless you’ve taken actions that remove everything from your estate in some way.  During probate, the court supervises everything while your personal representative notifies creditors, pays bills, files taxes, and distributes remaining assets to your loved ones. Many people have heard…

In addition to getting someone to water the plants and take care of mail while you’re away, there’s one more task you should add to your “to-do” list before you head off for your big vacation. Make sure your estate plan is up-to-date. Why now? Some critical tasks can help if you experience an emergency…

High school graduation marks such a significant transition for young adults that it can be easy to miss some critical considerations. Employment, education, living arrangements, and graduation celebrations—these are all important, but they should not steal all of the attention. Among the often overlooked considerations for high school graduates is estate planning. It’s not just…

Leaving property to adult children in Florida can raise many questions. Do adult children inherit automatically? Should you jointly title assets with an adult child to make estate administration easier? And what happens if a parent decides to leave a child out of their will? The information below can help you understand the estate planning…

In the digital age, estate planning documents can be easily accessed online. While that’s helpful, it is far from the most important change digitization has brought to the practice of estate planning. It is essential that you now need to plan for assets that are only available in digital form. Losing access to these assets means…

A living trust is created and financed by an individual during their lifetime. There are two kinds of living trusts to be familiar with, revocable and irrevocable. Each trust has distinct features that benefit the grantor uniquely. Many people choose to design living trusts because they help avoid probate court. Although the tax benefits of…