Estate Planning

Who May Act As Trustee Or Successor Trustee?

The choice of a trustee is extremely important, and may have tax consequences. You can name almost anyone as your trustee. Unlike the appointment of a personal representative of a probate estate, a trustee does not have to live in Florida or be related to you. You can name yourself or any other individual (subject [...]

By | 2018-06-27T00:57:41+00:00 March 1st, 2018|

Does The Trust Provide Protection From Creditor Claims?

In Florida, the trust assets are not protected from the claims of your creditors. During your lifetime the assets in a revocable trust are treated as owned by you, and subject to the claims of your creditor as if you owned them in your personal name. If the trust assets remain in trust after your [...]

By | 2018-06-27T01:06:23+00:00 March 1st, 2018|

How Does A Revocable Trust Avoid Probate?

A revocable trust avoids probate by effecting the transfer of assets during your lifetime to the trustee. This avoids the need to use the probate process to make the transfer after your death. The trustee has immediate authority to manage the trust assets at your death; appointment by the court is not necessary. The “funding” [...]

By | 2018-06-27T01:29:55+00:00 March 1st, 2018|

Is A Life Insurance Program A Substitute For A Will?

No. Life insurance is only one kind of property that you may own, and a will is necessary to dispose of other assets that you own at death. If a life insurance policy is payable to an individual, your will has no effect on the proceeds. If the policy is payable to your estate, the [...]

By | 2018-06-27T01:27:23+00:00 March 1st, 2018|

How Long Is A Will Good?

It is ‘good’ until it is changed or revoked in the manner required by law. Your will may be changed as often as you desire while you are sane and not under undue influence, duress or fraud, provided it is changed in the required manner. Changes in circumstances after the execution of the will, such [...]

By | 2018-06-27T01:27:23+00:00 March 1st, 2018|

Avoid Common Estate Planning Mistakes

If you are like many of our neighbors here in Winter Garden, Florida, you may have an existing revocable living trust that was drafted years ago and never reviewed or updated.  If that is the case, here are few useful tips you might be interested in to help you avoid common estate planning mistakes: Your [...]

By | 2018-06-27T01:52:20+00:00 February 24th, 2018|

How do you want to leave your inheritance?

It seems like few families realize the options available to them when planning for their estate.  There are many ways to consider leaving an inheritance to a loved one. Here are few you might want to consider: Outright Distribution.  This is the most common option that individuals select.  Unfortunately, it is also the option with [...]

By | 2018-06-27T02:11:26+00:00 February 1st, 2018|