Jointly inheriting real estate can be tricky, particularly when the beneficiaries don’t agree on what to do with the property. This situation often occurs when multiple siblings inherit their parent’s home as co-owners. When siblings disagree over whether to keep the property or sell it, increased family tensions can make an already emotional time even …
Estate planning requires making tough decisions based on an unknown future. You need to prepare your finances and property for the inevitability of passing away. Often, you should also contemplate what to do if your mental acuity declines through either age or accident. Being incapacitated indicates that someone is not able to care for themselves. …
In Florida, most estates will go through some sort of probate process. However, not every estate will need to go through probate. For instance, if a person passes away without a will and all of their assets have beneficiaries or joint owners with rights of survivorship, probate is likely not required. But since most people …
Do All Estates Have To Go Through Probate in Florida? Read More »
The last will and testament is often the most vital estate planning document. When you pass, your will guides the disposition of your property, assets, and wealth. You can appoint a trusted executor to oversee your estate’s closing. Through this person, hopefully, your last wishes are accomplished. However, a will induced or executed by fraud …
Undue influence or pressure is a legal cause of action that can be used to invalidate a will or trust in Florida. You can also challenge beneficiary designations for payable-on-death bank and securities accounts in Florida. If you can win an undue pressure lawsuit, a probate court may be forced to invalidate an entire inheritance …
What Constitutes Undue Pressure or Influence in Florida? Read More »
If a person passes away without a will, their assets are distributed by probate court according to Florida’s intestate succession laws. However, having a will does not mean you avoid probate court. Florida probate court governs the disposition of all descendants’ (the person who passed away) estates. Many assets will pass directly to designated beneficiaries …
How Long Do You Have To Contest Probate in Florida? Read More »
In Florida, inheritance laws are based on whether there was a valid, enforceable last will and testament for the person who passed. If they had executed and signed a will, their remaining assets would typically be distributed according to the wishes outlined in the document. However, if someone passes away without a will, their assets …
Florida Probate Code Section 733.814 allows the personal representative or a beneficiary of an estate to initiate a “partition action” to split property between beneficiaries. It reads as follows: “When two or more beneficiaries are entitled to distribution of undivided interests in any property, the personal representative or any beneficiary may petition the court before …
An inheritance lawyer, also known as a probate or estate lawyer, is a state-licensed attorney who helps personal representatives and heirs of estates handle the estate of a deceased person. An inheritance lawyer can be involved in various capacities based on the specific details of an estate. A probate lawyer’s role in settling an estate …
Texas Estates Code Chapter 308 is the portion of Texas law that discusses the notice that the personal representative of a deceased person’s estate must provide to beneficiaries and creditors of the estate. Section 308.002 requires personal representatives to provide notice to every beneficiary that is named in the will 60 days after the date …
A dynasty trust is a type of irrevocable trust that can be used to pass wealth from generation to generation. Its primary purpose is to minimize taxes. While the property remains in trust, it is not subject to estate, gift, or generation-skipping transfer (GST) taxes. The person who initially creates the trust, who is known …
When someone passes away, all of the real estate and personal property that they currently own individually becomes “estate property.” This means that, until the property is distributed to the deceased’s heirs and beneficiaries, their assets are simply considered to belong to the estate. Estate property includes personal property like cash, stocks, vehicles, clothing, furniture, …