estate planning and probate Archives

Reasons to start estate planning right away

Florida residents are encouraged to create a comprehensive estate plan as soon as possible. This may mean creating powers of attorney in an addition to traditional plan documents such as a will. Without a power of attorney, family members or other trusted representatives may not have access to bank accounts or other assets if the owner becomes incapacitated.

Accounting for digital assets in the afterlife

When a Florida resident or any other individual passes away, it may mean that he or she has left behind a variety of online accounts. These online properties may range from bank accounts to a Facebook or Twitter page. However, there is rarely a clear answer when it comes to how a family member or other person may access these accounts after a person has passed away.

The importance of updating beneficiary designations

Florida residents may want to make a habit of periodically reviewing the beneficiaries on any applicable assets. While the person listed might make sense today, that may not be the case in a year, five years or 20 years later. It is possible that a parent could remarry or that a spouse listed as a beneficiary is an ex-spouse at some point in the future.

Planning to divorce? Review estate plans

In Florida, some people make the mistake of drafting estate plans and then failing to make changes when they undergo major changes in their lives. One such scenario that should prompt a review and possible modification of an estate plan is a pending divorce.

Managing an estate as the executor

Some people may hire a professional when appointing an estate executor, but others prefer to name a trusted family member or friend. The executor of an estate is responsible for protecting the assets of a deceased person until the assets can be distributed. Here are some tips for Florida residents when serving as an executor.

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Rachel Rall, Attorney at Law, P.A.
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Jacksonville, FL 32210

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