Entries by Sara Morris

Comprehending the Process of Probate in Florida: What You Need to Know

According to the Florida Bar Association, probate is a court-supervised procedure of finding and gathering the possessions of a deceased person (called the decedent), paying the decedent’s financial obligations, and distributing the rest of the possessions to the decedent’s beneficiaries What is Probate? . Some examples of possessions include: a savings account in the sole […]

Decanting Your Irrevocable Trust– Two Problems

An irrevocable trust by its nature is not one that is easily altered, which is why it’s referred to as “irreversible.” However, there are some circumstances in which a trustee can act that will for all intents and purposes, change the regards to an irrevocable trust. This is referred to as decanting, and it includes […]

Action Required: Mobility

The American Taxpayer Relief Act of 2012 (ATRA) extended and made long-term (i.e., till Congress alters its mind) a number of essential estate tax arrangements. This includes a $5 million ($5.25 consisting of inflation) estate tax exemption and mobility of a departed partner’s exemption to the surviving partner. The outcome of this implies that couples […]

Eliminate of the Will, What Can I Do?

Losing somebody you were close to is always difficult. However, it can be all the even worse when you discover that the lost liked one may have cut you out of their will, either purposefully, unintentionally, or as a result of somebody applying undue influence over the person before their death. So what can you […]

Holographic Wills: Advantages And Disadvantages

Having a will assists avoid a testator’s estate from travelling through the laws of intestacy. Nevertheless, if the will is not performed properly, these guidelines can use if the will is considered invalid or does not entirely dispose of all property under the will. Holographic Wills Holographic wills tend to be wills that are in […]

How a Trustee Must Interact

The Successor Trustee of a Revocable Living Trust is the lifeline between the affairs of a decedent’s estate and the recipients. If beneficiaries have no idea what is occurring with the estate settlement process, they may feel like they have no control and may begin to protest the actions of the Trustee. As Trustee, you […]

Significance of Naming Contingent Recipients in Estate Planning Files

Beneficiaries might be named in a variety of estate planning documents. A named beneficiary typically assists possessions to move outside the probate process, conserving money and time in the procedure. Stopping working to name a recipient or contingent recipient can trigger significant problems in an estate plan. Function of Contingent Beneficiaries Recipients are called individuals […]

Think About a Donor Advised Fund

Many people offer percentages to numerous charities, without thinking about whether and how to provide more of their overall charitable gifts to those organizations that help in dealing with problems near and dear to their heart, which might vary from scholarships to instructional organizations, research on cancer, Alzheimer’s disease, mentoring programs, helping kids, gentle societies, […]