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April 2016 Archives

Estate planning questions after Prince's death

Florida music lovers were likely saddened to hear reports of the death of Prince on April 21. The 57-year-old singer was discovered unconscious in the elevator of his Minnesota home and declared dead shortly afterwards. There were no initial statements from Prince's representatives about what caused his death, but there have been reports that Prince was suffering from flu-like symptoms.

Preventing a child's spouse from getting an inheritance

Some Florida parents who are drafting estate planning documents may want a way to prevent their children's spouses from getting the money. Technically, leaving an inheritance to a child does not necessarily mean their spouse also gets the inheritance. However, if the two divorce, the spouse might be able to get a portion of the inheritance. This may depend upon the state they live in and whether it is commingled with marital assets.

Inheriting a home in Florida

If Florida residents find out that they have inherited a house, there are a variety of questions that will need to be answered in order to determine how best to proceed. People have the option of keeping, selling or renting out a home, and each option has advantages and drawbacks. What someone decides will often depend on how much the home is worth, what condition the home is in and what the costs of upkeep are.

Dying with no will in Florida

Florida residents who pass away without having a valid will are said to have died intestate. This means that the state will determine a number of things, including how the decedent's assets are distributed. When a person with children who are under the age of 18 dies without a will and the other parent is unavailable to care for them, the state will decide who will raise the children.

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