What Is A Personal Fiduciary?
If you recently suffered the loss of a close friend or relative, you know how traumatic these experiences can be. Not only do you feel emotional pain, but there’s also the question of who will be responsible for handling the personal and financial affairs of the deceased usually. Such concerns often bring more questions than answers regarding the responsibilities and [...]
How to Begin the Estate Planning Process in Florida?
Estate planning is an essential process that everyone should consider. Due to the uncertainty of tomorrow, it’s important to start planning for the future now. Unfortunately, many people are under the impression that estate planning is something reserved for the wealthy or those who have many assets. This simply isn’t true, as everyone needs to have a plan in place [...]
Senior Settlements – Is This the Right Option for You?
As a senior, you are likely inundated with offers that promise to make your life easier. Whether it’s an attempt to sell you a product or service to get you to sell your assets, the sales pitches never end once you reach a certain age.
Florida Irrevocable Trust Law – Know Your Legal Rights
Florida’s irrevocable trust often proves to be an invaluable tool in estate planning. In fact, it is used by many of the state’s best asset protection attorneys. Irrevocable trusts allow the one who made the trust, known as the settlor, to manage and control their assets without the need to go through probate.
Can You Change an Irrevocable Trust? What Does the Law Say?
Is your family currently trying to determine whether you can change an irrevocable trust? Find out what your legal options are and why this question might come up in the first place. An irrevocable trust is a trust whose terms cannot be changed, modified, or terminated without the beneficiary or the beneficiary designated by the grantor. Once the grantor effectively [...]
What Has to Go Through Probate – Your Guide to the Process?
Probate is the required legal process supervised by the court to verify and manage personal assets following one’s death. The probate process differs in each state and is needed to ensure that assets are properly allocated to beneficiaries. Here, you will learn about Florida’s probate rules/procedures. Please note that while this information can act as a guide, you need an [...]
The Difference Between a Revocable and Irrevocable Trust
On the topic of estate planning, a lot of people are familiar with the term "trust". You may have even heard mention of terms like “revocable trusts” and “irrevocable trusts.” During estate planning discussions with possible clients, we find that these terms are often used because these clients know people who have trusts.
How Much Does Probate Cost?
Probate is an important part of settling everything after a loved one has passed away. The process of probate is to ensure that the deceased person has all debts paid off and then allocate the remaining assets in accordance with the beneficiaries. You do not need to have a will for probate to take place, though if you do have [...]
Can Medicaid Gifting Rules Affect Your Eligibility?
You may not think you need it now, but you might have to apply for Medicaid someday. Like most things in life, the application process is anything but straightforward, especially if you’ve given away any of your personal assets.