If someone has appointed you as a guardian or power of attorney should he or she become incapacitated or need that level of assistance in the future, you might find that it is more difficult than you imagined to transition into such a relationship. Even if someone has previously admitted he or sh...

Being an executor for someone else's estate is a big responsibility, but it is also an honor. When someone names you as an executor, it means that the individual trusts you with his or her very last acts on this earth. The person believe you will honestly and lawfully abide by both the letter and...

The status of your estate — and your relationship with various heirs and beneficiaries — changes over time. After creating a will, you might get married or divorced. You might have additional children or grandchildren. The ways in which your relationships can change are almost unlimited, as are t...

Creative assets can be a valuable part of many estates. You don't have to be a famous author or actor to have creative assets. Someone who has published minor works, created trademarked designs for a business or invented something could own creative assets that generate some amount of income in a...

You might be surprised to know that investing goes hand-in-hand with several activities related to estate planning and estate administration. First, people use investing to build wealth over time, adding to their estates and building future stability for themselves and their heirs. Likewise, some...

Whole and universal life insurance policies are a mash-up between traditional term life insurance and an investment. That is to say, they offer the basic functionality you'd expect of a life insurance policy, but they also accrue cash value that can be used for a variety of purposes. One accounta...

Depending on what you inherit from friends or family, your legal battles might include both probate and other matters. This is often true when you inherit real property, such as real estate, in conjunction with someone else. One case in another city in Florida involves two heirs who inherited a f...

Typically, splitting up money in your will isn't that hard. If you have $600,000 and three children, you can just give them all $200,000 and be done with it. However, things can get a bit trickier with items that hold sentimental value. You have to determine what each item is worth to each person...

We've talked a lot about why Florida residents need estate plans–those legal documents protect you and your heirs, and their benefits often begin during your lifetime. But estate planning documents such as trusts and wills can be complex. Can mistakes derail the progress and protection you think ...

Digital assets are anything of potential value that is stored online or in digital format. An obvious example would be an online bank account; a less obvious example might include someone's social media page or online brand. Digital assets are just coming into play as a major part of estate plans...

In our prior blog post, we discussed the case of Robin Williams' estate. His widow and his children are battling over certain aspects of his estate plan. The sad situation is a learning lesson for anyone who is following the case. We know that you don't want to think about your loved ones going t...

The world said goodbye to Robin more than a year ago, but his beneficiaries haven't yet said goodbye to the battle over his estate. There are two issues that the three adult Williams children and his widow are fighting over. One issue is the reserve fund that Williams said would cover the costs o...

Setting up an estate plan is a serious matter for most people. Some people want to ensure that everything they have will go to the people who they want the items to go to. One way to do this as quickly and as inexpensively as possible after you pass away is to set up trusts. These are very useful...

When you are creating your estate plan, you might think that you should just include all of your assets into your will. That isn't always the best option because some assets aren't appropriate to include in a will. If you include certain items in the will, you might make the probate process more ...

In our previous post, we discussed some of the benefits of the irrevocable life insurance trust. That is only one option that you have when it comes to creating your estate plan. While the components of your estate plan will vary depending on your personal situation and the goals of your estate p...

By now, most of our readers know that planning for your final days and what will happen in the days and months following your death is of vital importance. If you have a life insurance policy, you probably already know that you shouldn't include that policy in you will because a beneficiary is li...

We have discussed a variety of estate planning tools that help your beneficiaries and heirs to have what they need to handle your estate when you are gone. One of the tools that is commonly used in estate plans is the financial power of attorney. In Florida, there are some very specific points yo...

Finding the time and motivation to create an estate plan is something that makes many people put it off. When it is time to sit down and get things together, it is important that you take care of everything necessary so that your wishes are followed and your beneficiaries and heirs get the portio...

Many wills pass through the probate process without having any problems. There are some wills, however, that will be challenged during the probate process. While it isn't very common, anyone who is going to have to deal with a will in the future should know some of the reasons why a will might be...

In our post last week, we discussed the case of Ernie Banks' will. If you recall, that will, which was filed by his caregiver, is being contested by his wife. It is for anyone who is dealing with a will to understand how different aspects of the estate can lead to either ordinary or extraordinary...

Those who have ever dealt with estate issues know that when someone has a legal ground for contesting a will, the process for settling the estate often drags on as the case goes through the court process. Major League Baseball Hall of Famer Ernie Banks' estate is in the middle of a contested will...

Thinking of a loved one passing away isn't a pleasant thought for anyone; however, it is vital for anyone who stands to have an inheritance from the death of a loved one to understand some points about handling that inheritance. One important point is that if you are married or thinking about get...

For a person who is dealing with any estate that has one or more trusts involved, knowing some specifics about trusts can often help them better understand what is going on. There are many different types of trusts that can be used to handle estate matters. Are all trusts made before a person pas...

Estate administration is a big concern for many of our Florida neighbors who are working on an estate plan. Some of our readers might not realize that not all estates require the estate to go through the formal proceedings. The estates that don't are classified as small estates. Certain condition...

Losing a loved one is a hard event for anyone. Once the final arrangements are made, thoughts turn to settling the final affairs of that person. Doing so means handling debts that the deceased family member left behind. Our Florida readers might find the answers to some basic questions about debt...