407-680-1471
One of the most mysterious processes is probate. While it is a familiar term to many, it is not necessarily understood.
When someone dies, whether there is a will or not, most states require the will go through probate court. While the process can take time, it does not have to intimidate those left to deal with it. It may help to understand the three fundamental elements of probate, so you know how to deal with it when the time arises.
Having a proper estate plan in place is vital, even for parties with limited assets. People work hard to establish their assets, and therefore have the right to determine what happens to those assets when they are gone.
A proper estate plan must have an instrument in place to organize the distribution of assets. When choosing between a will and a trust, it is important to understand a few key differences between the probate and trust administration processes.
Perhaps a close relative of yours recently passed away, and his estate must now go through the probate process.
You are a beneficiary in the will. You have heard the term “interested person” in connection with probate, but what does this mean? Are you an interested person?
When a loved one passes away, the aftermath can be confusing and stressful. The probate process can leave you feeling uneasy and impatient. If you do not approve of how the personal representative handles the estate, you may wonder if it is possible to have the probate court remove him or her.
It is possible to remove an executor of an estate under certain circumstances. Here are some common legal grounds for filing a removal petition.
It is a widespread belief that probate essentially takes forever to complete. But is this true? The truth is that the duration of the probate process depends on a variety of factors, including whether there is a will, the complexity of the assets, the number of beneficiaries and whether there are any disputes.
In Florida, there is a creditor claim period of three months, so that is the shortest the process can take. That said, some estates may take several more months or even years to probate.
The probate process can be a trying experience for anyone involved. Not only are you grappling with the grief over your lost loved one, but tensions can build as family members disagree over the handling of the estate.
Probate disputes can drag out the length of time it takes to distribute assets. As arguments wear on, it is easy to become impatient. Here are three of the most common disputes you may encounter as you start the probate process.
These days, Americans are undeniably busy, and in many cases, this can lead them to “put off” certain important actions, such as creating a will. You would be remiss to delay crafting this critically important document, however, as dying without one could lead to a wide range of issues.
Drafting a will gives you a clear opportunity to make your wishes known and dictate what you would like to happen to your children, finances and so on after your death. If you fail to make one, though, the state of Florida assumes control over these and related issues, and your beneficiaries can be the ones who lose out.
Estate planning in Florida is a vital form of financial planning for controlling the transfer of property and wealth within families. In this day and age, one cannot rely on verbal promises when death or incapacitation occurs. Grief has a way of bringing out negative feelings and creating conflict that can negate the final wishes of the deceased.
When planning your estate, it is important to inventory your tangible and nontangible assets, even those with joint ownership. Failure to title all assets properly, not using the arsenal of estate planning tools available and relying solely on a will can result in some of your property ending up in the hands of the wrong people.
Part of having a good retirement involves creating a good estate plan to divide all of your assets. ABC Action News in Bradenton, Florida, recently ran a story about the importance of having such an estate plan so that people can sell their homes and avoid probate to the best of their abilities.
Another crucial aspect of any estate plan may involve giving someone guardianship over you. Before someone takes on the responsibility of guardianship, it is critical they understand the most important aspect of the role. This responsibility involves always acting in the best interest of the ward.
Whether you are looking to purchase or sell property, a deed is an essential part of the process. In short, it certifies that the party looking to make a transaction with the property has the right to do so.
There are different types of deeds, and depending upon what you are looking to do with the property, a certain type of deed could be most beneficial to you. In order to make that determination, it can be helpful to review the main categories for deeds.
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