South Florida Estate Planning News
Recent Posts and Articles
How to Transfer Football Season Tickets
What You Need to Know About Transferring Your Season Tickets In many parts of the United States, football is more than just a sport—it’s a way of life and a passion shared across generations. While fans often pass down their love for an NFL or college football team to their…
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Elder Law Conference
Last week, our associate attorney, Demi Lamas, Esq., had the opportunity to attend the Florida Council of Aging’s Annual Florida Conference on Aging in Orlando, Florida. During the event, Demi connected with a variety of professionals dedicated to supporting and caring for the elderly community across the state. We’re proud…
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Continuity Planning
Our friend John has a job at Publix. He has a good job, a comfortable salary, and a nice home. However, John has never thought about what would happen if he lost his job or became ill or injured. One day, John is involved in a car accident and is…
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Newlywed Estate Planning Essentials
When starting a new marriage, there is much to think about: communication, living conditions, holiday plans, financial stability, and the wedding itself. However, something often overlooked by new spouses is the importance of creating an estate plan. It can be hard to think about what would happen if your spouse became ill, incapacitated, or worse, but an estate plan can ease those difficult times. An estate plan typically includes a will or trust, but the most important documents for a new couple are Health Care Directives and Powers of Attorney.
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What You Can Learn from the Leno Conservatorship Proceedings
Here are key lessons from the Lenos’ experience: 1. Spouses Can’t Automatically Step In: Many believe that being married means their spouse can automatically manage their finances or healthcare decisions if they become incapacitated. This isn’t true. After turning 18, no one, not even a spouse, can manage these affairs without prior consent (through estate planning documents) or court involvement.
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Details that TV and Movies Get Wrong
Although television and movies are entertaining with their conflicts and cliffhangers, Real-life estate administration is less dramatic than Hollywood would have you believe
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Secure the Well-being of Our Children
While finding the time during our busy lives may be challenging, having a well-thought-out and carefully drafted plan to protect our children is essential! Trusts offer a unique opportunity to leave a lasting impact on our children’s lives.
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Protect your Loved Ones this February
Today, it is common for adults to be in long-term committed relationships but be unmarried. If you have a life partner and are unmarried, it is imperative that you have an estate plan if you want your partner to receive your money or property at your death or if you want them to make financial or medical decisions on your behalf if you are alive but unable to make your own decisions. If you rely on your state’s laws, an unmarried partner will likely receive nothing at your death and will have no authority to make decisions on your behalf.
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Can I Use AI to Write My Will?
Ask yourself:
● How well do I understand options to protect my money, property, family, or business if I have a medical emergency, a short- or long-term incapacity, or after death?
● What is my financial situation regarding property, income, or debt?
● Is my family structure complicated?
● Am I undecided about my wishes (how to divide my money and property, when to distribute it, or what to include in an advanced directive)?
● Will my family get along if my will is unclear?
● Will someone inherit before they understand the value of their inheritance?
● What if your adult child is on the brink of divorce, will the soon-to-be ex-spouse receive anything from an inheritance?
A Will, A Trust or Both? What do I need?
Do I want a will or a trust? If you die without a will it is known as dying intestate. While many believe that their close family members “know what they want”, it doesn’t necessarily go your way without a valid will. Instead, their money and property are distributed according to Florida’s intestate succession laws, during a Probate action.
But even if someone is fine with the state-imposed inheritance laws, a beneficiary will be required to go through the expensive and long process called “Probate.”.
The law can only assume what you would want, but it may cause your wishes to go haywire. For instance, imagine you have been in a relationship without a formal marriage certificate for many years and love your partner dearly. If you pass without a will, that partner may not inherit according to intestacy laws.
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