If you’re the executor of an estate, then you have a lot of responsibilities on your plate. And if you don’t carry out your duties like you’re supposed to, then beneficiaries could miss out on their inheritances and the estate can lose a significant amount of value...
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What basics do you need in an estate plan?
You don’t want to be like most people and make the mistake of thinking that you don’t need an estate plan. If you do, then your assets could end up subject to the powers of the state, meaning that your assets will be divided according to state law. This, of course,...
Steps to take following a tragic loss
The loss of a loved one – whether expected or unexpected – can be a devasting time for grieving family members. In addition to the emotional toll it takes on loved ones, specific legal steps must be taken when executing a will. Estates are composed of the late loved...
What are the obligations to creditors of estates in probate?
People in Florida keep living their lives up until they pass away. This means that they will continue to make purchases, own and use property, use bank accounts, have retirement and investment accounts and other types of assets. It also means that they may continue to...
Selecting the right person to serve as my personal representative
When you die, your estate will likely need to go through Florida’s probate process. This is the process in which your estate is administered, and your assets are passed on to your heirs. Your personal representative is responsible for administering your estate. Who is...
The will is a central document in estate planning
A good estate plan is made up of several documents, and the will is just one of them. However, it plays a particularly important role in many people's plans. Everyone who is starting the estate planning process should understand its strengths and limitations. The will...
What are the obligations of a trustee?
Trusts are a useful estate planning tool for many Florida residents. Trusts require a trustee to manage the assets in a trust. Generally, the creator of the trust will serve as the trustee until they pass away or become incapacitated, at which point the assigned...
Only certain parties may challenge a will
It may be possible for an individual to contest a will assuming that he or she has standing to do so. Florida state law generally allows those who would have been entitled to an inheritance if an individual died without a will to mount such a challenge. In most cases,...
What to expect after a loved one dies
There are several steps that a person must generally take when attempting to open a probate estate in Florida or most other states. The first step is to find the original will and read over it carefully. This document will likely inform the reader of who was appointed...
The importance of having an estate plan
Ideally, individuals in Florida and throughout the country will prepare a will as part of their estate plan. A will allows an individual to determine who receives assets that remain in that person's estate when he or she passes. This can be especially useful for those...
Jennifer D. Sharpe
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