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Orlando Probate & Estate Administration Law Blog

3 things you should know about Florida probate law

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Probate is something you may not think about at all, but it can drastically affect how your family receives and manages your assets after you die. Preparing in advance for asset management is an essential way to avoid the probate process and keep control over your asset distribution.

Each state has different laws regarding the probate process. If you are a Florida resident, here are three things you should know about the laws regarding probate in your state:

How estate planning for women is different

Obviously, estate planning is not a situation where one size fits all. For instance, a younger married couple with kids would need to consider prospective guardians for their children, while someone retired about to enter a second marriage could prioritize ways to ensure that certain assets go to the children from the first marriage.

However, gender is an issue that many people do not realize exists. Estate planning is different for women - really! Here is why.

Should you have an estate plan for your Facebook account?

There are numerous items one needs to include in any estate plan. You need to determine how to divide assets among your loved ones when you die, but many people have begun wondering what will happen to their digital assets after death. 

More attorneys have begun to see people include provisions in an estate plan related to what should happen to digital assets, such as Facebook accounts, Twitter profiles and PayPal accounts, after the person dies. The internet has virtually become a new utility, and people should take the necessary steps to ensure their online personas receive care. 

How to prevent shareholder disputes

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No matter the size of your company, legal battles are an inevitable part of running a business. Potential sources of lawsuits include employees, investors and clients. However, this does not mean you have no power of minimizing risk. You can do well by preventing and preparing for litigation.

One of the areas in which you may experience arguments is with shareholders. Dividing up your company can help it grow but also comes with more complexity, as there are more people to please. Make the process easier with these tips.

Who will you name as executor in your will?

Planning for the future is a smart decision on your part, and you have concluded that the first step is to draw up your will.

Now you are beginning to think about naming an executor. What will the duties be? What kind of traits should this person have? In short, who should you choose as your personal representative?

3 Myths about running a business

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Entrepreneurship is a popular thing right now. More and more people are starting their own businesses and following their dreams. If you are beginning your own journey to running a small business, you may unknowingly believe some harmful myths.

There is plenty of misinformation out there about forming and operating your own company. Here are some misconceptions you should stop believing.

When your parents die broke

Losing a parent is one of the most difficult things you may ever go through, and learning to adjust to life without your mother or father can take considerable time and effort. In addition to the emotional toll losing a parent can take on you, things may become even more complicated and difficult if your parents die without any money or assets at their disposal.

If you find yourself facing such a situation, you may have questions about whether creditors are going to come after you because of your parents’ debts. While every situation differs to some extent, here is a summary of what you need to know if your parents die broke.

Understanding breach of contract

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As a Florida business owner, you and your company have many contracts with people such as customers, suppliers, vendors, distributors, lessors, lessees, and a host of others. You also have contracts, whether written or verbal, with your employees.

Contracts are a way of life for virtually all businesses, and if one of them is breached, it can cause you substantial hardship in terms of lost revenue, lost time, lost productivity and lost opportunities.

Why do creditors come calling after someone dies?

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It is difficult to cope when someone you love passes away. Not only do you miss the person, but you need to worry about estate matters. You may also be dealing with calls from debt collectors on top of all of this. If this is happening, you are probably going through a lot of frustration.

The last thing you want to deal with is harassment from a debt collector while you are grieving. Here are some things you should know about creditors calling after your family member passes away.

What happens to debt when someone dies?

If you have recently lost a loved one, you may be finding every day a struggle. Even if the death did not come as a surprise, coming to terms with the loss of someone close to you is difficult even under the best of circumstances.

While, in the immediate aftermath of your loved one’s passing, you might have to arrange a funeral, memorial service or burial, there are additional matters you may have to handle in the days to come.

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