estate planning and probate Archives

Creating a will that avoids family disputes

A will can be a point of contention among surviving loved ones, especially if it has not been properly drafted. Florida residents who want to have an effective estate plan should make sure that they include a will that clearly expresses their wishes and leaves no room for misinterpretation.

Why estate planning is important for all adults

Florida adults can benefit from an estate plan even if they do not have a large amount of assets. One important reason to have one is in the event of incapacity. Estate planning documents can appoint people to take over health care decisions and financial matters for a person who is unable to do so. People might also want to purchase some kind of long-term care insurance.

Addressing a child's immediate needs in an estate plan

While many Floridians are aware of the importance of long-term estate planning, some may also want to think about including special details in these documents that would cover more immediate concerns. An estate plan itself can be critical in order to reduce probate fees and delays, lower the estate tax burden and provide a sense of security for loved ones and beneficiaries. Making an estate plan does not need to be complex or costly, but it can save a significant amount of time, money and hardship in the long term.

Choosing the right people for an estate plan

People in Florida who are planning for the future may want to pay close attention to the people that they name to carry out plans for their estate. By naming trusted people and close friends and family, people want to honor their connections with those they hold dear. However, it is important to consider competence and knowledge as well when choosing people to act for a person as part of an estate plan.

Valuable collectibles and estate planning

It may be important for some people in Florida to include valuable collectibles in their estate plan such as art, stamps, antiques and even some alcoholic beverages. There could be several complications associated with these items in an estate plan including valuation and the fact that family members may be unable or uninterested in keeping some items.

Developing an estate plan for the future

When it comes to planning for the future of assets, estate planning is a key tool in achieving the desired outcome. Developing a plan can be important whether one's assets are large or small. By doing so, an estate owner can help to protect their privacy and security while establishing a greater sense of control. When Florida residents don't have an estate plan of their own or even a will, their assets are left to be distributed according to state law. Despite the fact that many people envision what they would like to see happen with their affairs, 55 percent of Americans do not have a will.

How to find a person's will after he or she passes

When an individual dies in Florida or anywhere else, the estate is overseen by an executor. An executor is generally considered to have a role similar to a trustee and has an obligation to locate beneficiaries and let them know about the passing. If a will was created, a beneficiary has the right to see a copy of it.

How debts are settled after a spouse dies

When married people die, their debts that they incurred while alive do not necessarily go away. However, surviving spouses in Florida aren't always liable for the debts that their husbands or wives accumulated. If a debt was in the decedent's name only, it will be paid for by that person's estate. This means that assets that belonged to the decedent will be used to cover those balances.

Trusts for adults can be important in estate planning

Florida residents may be driven to think about their future and that of their family, especially after important life events like marriage or the birth of children. These types of milestones can cause many people to consider the plans and actions that they can take today to help ensure that their families will be taken care of even after they pass away. An estate plan that involves wills, trusts, life insurance and other forms of asset transfer can help create a comprehensive approach for long-term benefit to one's heirs.

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Rachel Rall, Attorney at Law, P.A.
1723 Blanding Blvd.
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Jacksonville, FL 32210

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