407-680-1471
When you read this article title, you breathe a sigh of relief. There will be no horror story about your LLC. You do not have an operating agreement; therefore, you have no horror story.
Unfortunately, you are not only wrong, you already have the material for chapter one.
In many ways, celebrities are not that much different from everyone else. For example, they may not fully understand the complications that could arise from wills, trusts and probate procedure.
For everyday people, especially those with high-value estates, these errors can be devastating. In the world of the rich and famous, however, such issues are often amplified — sometimes to the tune of millions of dollars. Here are some of the most shocking examples.
As the executor of someone’s Florida will, you likely wonder if you should hire an attorney to help you take the decedent’s estate through probate. Unless the estate is an extraordinarily simple one, yes, you should.
Your duties as executor cover all aspects of overseeing and managing the estate’s assets, up to and including final distribution to the designated heirs. Between the time you start the probate process and the time you close it by distributing the estate’s assets, however, you can face many complex issues for which the advice, counsel and guidance of an experienced probate administration attorney will stand you in good stead, especially when it comes to the following three issues:
Florida courts allow people to retain guardianship over an individual for certain reasons. While different circumstances surround each reason, they all revolve around one individual making decisions on behalf of someone else who is not in a position to make medical or financial decisions independently.
Not all guardianships are the same. It is vital for residents of Florida to be aware of the different types of guardianships, so they know when to seek one out for a loved one. There may also be circumstances where a court appoints someone as a ward if the person does not know to oversee everyday activities.
You want to keep your loved ones safe. When you have a loved one who has special needs, there may be additional measures that you must take.
To aid in providing for a loved one with special needs, there are special needs trust options available. Before selecting the one for you, it is important to understand certain aspects of each choice.
As a resident of Florida who is considering establishing a guardianship over someone else, you may have questions about the process, your responsibilities and related matters.
Maybe you have a minor child in your life, and he or she is inheriting a considerable amount of money and needs someone to oversee the funds. Conversely, perhaps your mother or father is grappling with memory loss or a similar condition that prevents him or her from handling his or her own affairs, and you want to step in and take care of things.
You want to protect your assets, even when you are gone. Thankfully, estate plans are helpful tools for parties to use to designate specific assets and their distribution.
Consider a few essential elements to orchestrate the proper care of your estate, such as the power of attorney. When picking your power of attorney, you should keep in mind a few important things:
Few family arguments have the potential to explode faster than a discussion about dividing property after a loved one dies. If your family is fortunate, your elderly parent executed a well-written will before death. Still, wills do not always completely resolve family disputes.
In Florida, probate judges rely on wills to reduce uncertainty and boost efficiency. With a good will, your parent tells you, your siblings and the state how he or she wishes to dispose of personal property, real estate, investments and other items. Of course, not all wills are good.
If you are the personal representative or executor of an estate, you may encounter some obstacles as you assume your role and fulfill your duties. Beneficiaries of the estate may start to doubt the validity of the will, question your authority or squabble amongst one another.
It is vital to be ready for a will contest because estate disputes are always possible.
It is an unfortunate reality that many people these days end up dying with debt. One report published by TIME Magazine found that approximately 73 percent of Americans die with some amount of debt. The average debt a person dies with is over $61,000, which typically comes from someone's mortgage debt. However, it can also come from student loans, auto loans and credit card debt.
It is a difficult time when a loved one passes away. There will be a lot on your mind, and the last thing you want to deal with is creditors calling you asking about the deceased's debt. While it can be angering to receive these calls, it is important to be ready. You certainly have rights when creditors call, and you should not pay any money you do not have to.
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