Korshak and Associates, P.A. Attorneys at Law Korshak & Associates, P.A.2024-02-28T16:03:56Zhttps://www.korshaklaw.com/feed/atom/WordPress/wp-content/uploads/sites/1103229/2021/02/favicon-75x75.icoOn Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=521272024-02-15T19:13:50Z2024-02-15T19:13:50Zthe probate court will use state law to distribute that person’s assets.
Why avoid probate?
Now, you may wonder why you have heard people suggest you try to avoid probate. Great question.
Essentially, the alternative to probate is estate planning, which is a cheaper, faster and better way to distribute your assets after you pass away than going through probate court.
There are other benefits to skipping probate. For example:
Probate is public and estate planning can be a private process, so you can pass assets along to your loved ones with no one knowing, and no one must know who your beneficiaries are.
Probate can take a long time. Think one year or longer. Imagine the legal fees and court costs, besides the fact that because it is not a private process, anyone can contest your will, so people can come out of the woodwork and try to get in the will, which will cause your loved ones to have to hire attorneys and spend thousands of dollars trying to defend what is yours.
How do I avoid probate?
So you have decided to avoid probate. What’s next?
The first step is setting up an estate plan. You can speak with an estate planning attorney who will guide you through the entire process.
You can still have a will, but you can also make use of other legal tools that allow you to avoid probate, such as:
A living trust: this is a container for your assets. You can put your property in this container, designate a trustee who can manage the trust and make sure your assets go to the right people, according to your wishes.
Name beneficiaries when possible. On assets like insurance policies and bank accounts, you may name beneficiaries. By doing so, the money goes straight to them and does not have to go through probate court.
Consider joint ownership. While some people may not want to share their assets with their beneficiaries today, it is an option that helps avoid probate. If you put a beneficiary’s name on your house, for example, when you pass away, the house is theirs because they were also on the title.
Consider giving gifts during your lifetime so there is less to manage after you pass away.
Inquire about state-specific processes that can help you avoid probate, such as simplified processes for smaller estates, which is something that Florida offers.
Remember, planning is critical. You must prepare ahead if you want to avoid problems later. The best way to avoid problems is to consult with an estate planning attorney and create a holistic solution that considers your assets and your wishes.
While many people dread the idea of estate planning, having the right guidance makes it truly uncomplicated. Make sure you reach out to someone who can help you set up your estate plan, so you can have peace of mind and also give that peace of mind to your loved ones.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=521202024-02-02T20:06:09Z2024-02-02T18:06:35ZWhen someone experienced cognitive decline
Older adults and those with specific age-related medical conditions, like Alzheimer's disease, may experience cognitive decline later in life. They may have a hard time remembering where they are and other key details about their lives. Therefore, they may lack the necessary capacity to create testamentary documents.
In Florida, the law allows anyone over the age of 18 and of sound mind to draft documents. If someone cannot remember who is in their family or what assets they own, they may not be in a position to create legally-binding documents. The same is true in scenarios where people cannot understand the contents of the will they drafted or intend to sign. Oftentimes, decline due to age is the reason that people question someone's cognitive ability and testamentary capacity. However, sometimes mental health issues could also provide grounds for a will contest based on questions of someone's capacity.
Family members contesting a will in Florida probate courts have to gather evidence supporting their allegations. Witness testimony and medical records are often among the most valuable pieces of evidence that people can use in a capacity-related will contest.
Understanding when a will might not hold up in probate court could help people stand up for their rights and the true legacy intentions of someone who has recently died.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=521182024-01-10T02:00:08Z2024-01-10T02:00:08Zwork on the contract.
When it comes to residential real estate, ensuring that a contract is not just a piece of paper but a legally binding agreement is crucial. The enforceability of a real estate contract is influenced by various elements that need careful consideration.
Clear and definite terms
One of the fundamental concerns that contribute to the enforceability of a residential real estate contract is the clarity of its terms. The contract must articulate the specifics of the agreement, leaving no room for ambiguity. This includes details about:
The property
The parties involved
Purchase price
Payment terms
Any contingencies
Clear and definite terms not only establish a common understanding between a buyer and seller, they also serve as a reference point in case of disputes. Ambiguous language can lead to misunderstandings and legal complications, potentially jeopardizing the enforceability of the contract.
Offer and acceptance
A valid real estate contract requires a clear offer from one party and an unambiguous acceptance from the other. This element, often referred to as the “meeting of the minds,” is critical in establishing mutual consent between the buyer and seller.
An offer should outline the terms and conditions under which the buyer is willing to purchase the property, while the acceptance must be unequivocal, expressing agreement with the terms presented. Any modifications to the offer should be communicated and accepted by both parties to help maintain the contract’s enforceability.
Consideration
Consideration, typically in the form of money, is a vital element that makes a residential real estate contract legally binding. It signifies that there is something of value exchanged between the buyer and seller. This can solidify the seriousness and intent behind the agreement.
Consideration can be the earnest money deposit made by the buyer, demonstrating their commitment to the transaction. Without valid consideration, a contract may be deemed unenforceable, as it lacks a necessary element to make it legally binding.
The enforceability of a residential real estate contract hinges on a careful consideration of various elements. Clear and definite terms, a well-defined offer and acceptance and valid consideration are the pillars that support a robust and legally binding agreement. By understanding and incorporating these elements, you stand a chance to enhance the enforceability of your real estate contracts and pave the way for a smooth and successful transaction.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=521112024-01-03T03:09:13Z2024-01-03T03:09:13ZEstate planning isn’t just about detailing who will inherit your assets when you’re gone. A big part of estate planning is – or should be – about planning for a time when you may need to rely on others to make crucial decisions for you, handle your finances and care for those who depend on you.
Naming people you trust to have power of attorney (POA) over your health care and finances if you’re seriously ill or injured is a wise estate planning step for adults of any age. Florida law is unique in also allowing people to name a “preneed guardian.”A lot of people – particularly those without spouses or adult children – fear what will happen if they become unable to care for themselves and no longer possess the cognitive functions necessary to determine how and where they’ll live. You may have seen disturbing stories of “professional” guardians being appointed by the court to care for people – only to steal from them or neglect them.
Who can be a guardian?
By naming a preneed guardian, you can designate someone to “assume the duties of guardian immediately upon an adjudication of incapacity.” This isn’t just important for those who don’t have relatives ready and willing to take on this role. It can be helpful if you have multiple adult children because it can prevent battles over your care when you can’t weigh in.You can name any “competent adult” to be a preneed guardian. It may be the same person you’ve given POA for your medical and financial needs. You can designate them in your estate plan.
Be sure they’re agreeable to taking on this responsibility
It’s crucial to discuss your wishes with the person you want to designate to be your guardian (as well as any alternate). You want to make sure they fully understand what they’re agreeing to – even if that scenario seems unthinkable now. You should discuss your wishes for care and make sure they know about any long-term care (LTC) policy or money you have set aside for a residential care facility. If you want to remain in your home for as long as possible, your LTC policy may cover that as well.Once you’ve codified your preneed guardian, it’s a good idea to make sure your family knows who it is and why you chose them. This can help make your guardian’s job a bit easier if and when the time comes.There’s much more to know about naming a preneed guardian. Having sound estate planning guidance will help address your questions and concerns.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=521082023-12-04T13:02:24Z2023-12-04T13:02:24ZTwo common types of deeds, a quit claim deed and warranty deed, can be crucial concerns in property transfers. Breaking down the differences between these documents can better ensure that you have the information needed for a successful real estate transaction.
What is a Quit Claim Deed?
This is a legal document used to transfer the ownership interest of a property. Unlike a warranty deed, it makes no guarantees about the property’s title status. Instead, it simply transfers whatever interest the seller holds in the property to the buyer. Common scenarios where a quit claim deed might be appropriate include transfers between family members, adding or removing a spouse from the property title due to marriage or divorce or clarifying uncertainties in ownership.
While a quit claim deed has obvious limitations, it can work if the grantor truly has legal rights to the property in question and the real estate doesn’t have liens or title issues. However, if the seller didn’t have the right to transfer ownership of the property, the new owner would have no warranty protection.
What is a Warranty Deed?
On the other hand, a warranty deed is a more comprehensive legal document. In addition to transferring ownership, it includes a guarantee, or warranty, from the seller to the buyer that the property’s title is clear of any defects or encumbrances. Warranty deeds are typically employed in traditional property sales where the buyer expects higher assurance regarding the property’s title. This deed provides greater protection for the buyer against any undisclosed issues that may arise in the future.
Whether you’re opting for the simplicity of a quit claim deed or the comprehensive protection of a warranty deed, your choice should align with the unique circumstances of your transaction. By seeking legal guidance, you can make a truly informed decision that better safeguards your interests.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=520952023-11-30T17:36:02Z2023-11-21T15:20:50Z
Universal Studios Florida
While there have been many dramatic incidents at Universal Studios, few of them prove fatal. A woman from Florida died after having a heart attack while riding The Incredible Hulk Coaster. A man died after falling roughly four feet from a platform while boarding the Revenge of the Mummy ride in 2004, and he later died from head injuries. The park sees more than 10 million guests annually.
ICON Park
ICON Park is smaller than many other parks on this list, but it was the location of one of the most recent fatalities. A 14-year-old boy died due to issues with safety restraints after falling from the Orlando Freefall ride in 2022. He was nearly a hundred pounds heavier than the weight limit for the ride, which was not posted.
Seaworld Orlando
With more than 4.5 million visitors annually, there are many things that could go wrong at SeaWorld Orlando. The water park, Aquatica, has seen at least two deaths involving people who rode Roa's Rapids. A trainer once died in a drowning caused by a bull orca in 2010. A visitor who illegally stayed in the park overnight also died by drowning in 1999.
Discovery Cove
Discovery Cove, a SeaWorld Park, has had a handful of tragic incidents. In 2009, a 59-year-old visitor died due to complications of hemophilia and severe infection after cutting his toe on coral during an encounter swimming with fish. The park only allows 1,300 guests per day, meaning less than half a million people visit each year.
Walt Disney World
Despite boasting more than 10 million visitors at most of the separate parks each year, Disneyworld Orlando has not been home to many fatal incidents when considering the volume of visitors. Most of the reported incidents involve either maintenance workers or people with serious underlying health conditions. Reports of incidents involving ride failures are quite rare. People have died due to underlying heart conditions after riding Dinosaur, Rock 'n' Roller Coaster, Star Tours – The Adventures Continue, Body Wars, Mission: Space, Spaceship Earth, PeopleMover, Space Mountain and Expedition Everest: Legend of the Forbidden Mountain.
Visitors can protect themselves by prioritizing amusement parks with good safety records. Following Park rules, reading signage, complying with height and weight restrictions and remaining aware of one surroundings can all help people avoid injury. In some cases, those hurt due to operator negligence or poor design may have grounds to file a lawsuit after an incident at an Orlando amusement park.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=520822023-11-01T20:51:14Z2023-11-01T20:51:14ZValid reasons for contesting a guardian appointment
Contesting the appointment of a guardian is not a decision to be taken lightly, as it involves challenging a legal process. However, there are valid reasons for contesting a guardian appointment, and these reasons are essential to help protect the rights and well-being of the ward.
One of the primary reasons to contest a guardian appointment involves a lack of due process in the legal proceedings. Due process helps ensure that all parties involved are treated fairly and their rights are protected. In some cases, the ward may have the capacity to express their preferences regarding the appointment of a guardian. If the ward’s wishes were not considered during the appointment process, you can contest it on their behalf, especially if their choice aligns with their best interests.
Guardians are often responsible for managing the ward’s finances. If you suspect financial mismanagement or any form of exploitation, this can be a strong reason to contest the appointment as well.
Seeking legal representation is advisable when considering contesting a guardianship appointment. A seasoned professional can help you to navigate the legal processes involved.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=520732023-10-09T15:44:25Z2023-10-09T15:44:25ZCan you refuse the inheritance?
If you decide that the home and the lien are more than you want to deal with, you can decline (“disclaim”) that inheritance. Florida law has strict requirements regarding disclaiming inherited property. If you’re even considering it, it’s wise to get legal guidance to help ensure that you don’t do anything that would prevent you from being able to disclaim it. Disclaimed property generally “passes as if the disclaimant had died immediately before the interest was created.” If there is a contingent beneficiary listed, they would next be offered the property.
Before you make any decisions, be sure the lien is still valid and not paid off. If it’s relatively small, you may choose to pay it off before you sell the home. If it’s too large to pay off, you may need to sell the home with the lien and pay it off from the proceeds – although selling a home with a lien isn’t always easy. A last resort may be to allow the mortgage lender to take the home.
One thing is almost certain. A home with a lien that’s part of a loved one’s estate will complicate things for everyone and make the probate process lengthier. Working with an estate planning professional can help you as you make decisions and maneuver the process in service of your best interests.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=520592023-08-30T21:45:13Z2023-08-30T18:29:37ZMedical and funerary debts
It is quite common for people to receive emergency transportation and medical services at hospitals prior to their passing. Any treatment-related expenses from someone's last name of life will generally require repayment with assets from the estate. Any pre-existing medical debt could also come into play. In fact, any Medicaid benefits that someone received could lead to estate recovery efforts. The Medicaid estate recovery program will try to obtain repayment from the estate for the value of medical care provided for someone before their death, including long-term care costs.
Personal debts
Credit cards, personal lines of credit, judgements and even student loans can all significantly alter the value of someone's estate. Occasionally, there will be a cosigner who may have some ongoing responsibility for the debt, but many times the estate itself will need to cover someone's financial obligations.
Tax responsibilities and court costs
The estate administration process typically involves filing one final income tax return on behalf of the deceased. There may occasionally be other taxes owed as well, including income taxes for the estate if the sale of someone's assets is part of the process. Very large estates may be subject to federal estate taxes, which the estate will have to pay before distributing assets to specific beneficiaries. Any probate court expenses, including attorney fees, will also be prioritized over the distribution of assets to the beneficiaries of the estate.
It is only after providing proper notice and giving interested parties an opportunity to make a claim in court that the personal representative of a Florida estate can move forward with distributing valuable assets to the family members and other selected beneficiaries. Understanding which financial claims have priority may help the personal representative of an estate avoid personal liability and can help family members understand what to expect as the probate process plays out.]]>On Behalf of Korshak & Associates, P.A.https://www.korshaklaw.com/?p=520422023-07-26T19:49:54Z2023-07-27T12:50:16ZThe executor or personal representative of an estate will have a lot of responsibilities to fulfill. They must manage the probate process in the courts and take care of the resources left behind by the decedent. They have to distribute assets, file tax returns and repay creditors.
Most people are happy to leave the arduous task of estate administration to the personal representative selected by the testator before their death or appointed by the Florida probate courts at the beginning of the estate administration process. In some unusual circumstances, however, family members or beneficiaries may need to go back to probate court and seek the removal of a personal representative. What circumstances would justify probate litigation to challenge the role of the person managing the estate? Here are three examples:
1. Incapacity
Sometimes, the individual designated to serve as the personal representative has health issues that will prevent them from fulfilling their obligations. Long-term hospitalization or conditions that affect someone's cognitive abilities may justify their removal from their role as the representative of an estate in Florida.
2. Criminal activity or probate misconduct
The law also allows for the removal of a personal representative after their conviction for a felony offense. A criminal conviction isn't necessary if there is evidence that the representative engaged in misconduct with the assets from the estate. Being unable to provide documents related to the sale or transfer of assets or to quickly resolve concerns about embezzlement from the estate may lead to the removal of the representative from their role.
3. Mismanagement of estate assets
There are many ways for a personal representative to diminish the value of an estate. They could invest the estate's resources poorly or fail to secure them from criminal activity. Or, they might sell assets for far less than what they are worth. In scenarios where a representative's actions diminish the value of an estate, the affected beneficiaries affected can potentially ask the courts to intervene and remove the personal representative from their role. In some situations, they may even be able to recover the losses caused by the mismanagement. Initiating probate litigation may be the only way to protect the legacy someone intended to leave behind from the negative consequences of someone else's behavior.]]>