Tortious interference is when a third party to a contract intentionally acts to harm the financial potential of the relationship. While it is usually associated with business contracts, wills and trusts can be subject to tortious interference in Florida. An inheritance can be a significant financial event in your life. If someone improperly interfered to […]
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A breach of fiduciary duty occurs when a “fiduciary,” such as the personal representative of an estate, a trustee, or a guardian, fails to comply with the duties created by the nature of their relationship with another person. A fiduciary relationship exists whenever one person places confidence and trust in and is at some level
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A Lady Bird Deed, also known as an enhanced life estate, is a type of real property interest. It grants ownership rights to one person ( the “life tenant”) during their lifetime and confers a future interest in the property to another person (the “remainderman”). A traditional life estate cannot be revoked or otherwise changed
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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
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When you purchase life insurance, you may designate a beneficiary to receive the proceeds upon your death. You can name a single beneficiary if you choose to do so. However, it is advisable to name a primary beneficiary and then one or more “contingent” beneficiaries to receive the proceeds from your life insurance policy if
Who Gets the Life Insurance Proceeds? Read More »
Inheriting real estate with other people can be challenging, particularly when one of the beneficiaries is living in the house. This scenario commonly occurs when siblings jointly inherit their parent’s home, which can lead to increased family tensions during an already emotional time. It is always preferable for siblings to work out an arrangement that
What Happens When a Beneficiary Is Living In an Inherited House? Read More »
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