L. Bruce Swiren, P.A., Attorney at Law Free Initial Consultations
877-806-7949 407-287-5137

Menu

Protecting Your Legacy
For more than 35 years, individuals, families and businesses in Florida have relied on our law firm for help. You can too, call today for a free initial consultation.

Posts tagged "beneficiaries"

Executor responsibilities detailed

A Florida resident who is named as the executor of a decedent's will may be apprehensive about the responsibilities that accompany that position. The executor needs to make sure the desires of the deceased person are fulfilled and the remaining financial obligations of the person's estate are taken care of.

Florida revocable living trusts

While people may have heard of a revocable living trust, they may not be exactly certain of what the term means or how such a trust functions. Trusts may generally be divided into two broad categories, including revocable living trusts and irrevocable trusts.

What is probate?

Some residents of Florida may be concerned about what will become of their assets after their death. Although this can be a difficult question for some families to consider, doing so responsibly can help to mitigate the chance of further complications for one's beneficiaries in the future. Probate is one such potential complication, and it can be an expensive process for one's intended beneficiaries to undergo. However, many people are unaware of how probate can come into effect and what assets may be subject to it.

What are the steps involved in setting up a living trust?

During their estate planning considerations, many people in Florida consider setting up a living trust in order to avoid probate and to provide for either themselves or for others while the trust creator is still living. A living trust can lend flexibility. Many grantors name themselves as trustee and find little practical difference between managing the trust and managing its property directly.

Personal representative of a Florida estate

When an estate enters probate, the court will appoint a personal representative to manage the assets. If the representative is an individual, that person must either be a Florida resident or a close relative of the decedent. A qualified and authorized bank or savings and loan company and any incorporated Florida trust company could also serve as the representative.

How are estate creditors involved in probate?

Among the primary reasons for probate in Florida is the satisfaction of the debts of the decedent. The personal representative of the estate is required to provide notice of probate to any reasonably ascertainable or known creditors. Upon notice, creditors typically are allowed a period of three months to file claims with the court clerk. The claims should set forth the details of the relevant debts.

Estate planning decisions in Florida

When individuals are deciding who will inherit from their estates, it is important to consider a series of questions. The first question to answer is how much should go to heirs and how much should go to charity. Once that ratio has been determined, it may be worthwhile to talk to all beneficiaries to let them know how much they can expect to receive.

The uses of bypass trusts

A bypass trust has long been a tool of choice for Florida couples who wish to defend their combined marital estate from encroachment by taxation. Recent legislative alterations regarding the marital deduction have made the bypass trust capable of sheltering even more than before.

Choosing trustees during estate planning

Individuals in Florida who are working on trusts as part of their estate plans need to carefully consider the choice of trustee. This is an important decision because no matter how carefully a trust is designed, if the trustee or trustees do not administer it properly, the goals of the individual who formed the trust may not be achieved.

Protecting Your Legacy
For more than 35 years, individuals, families and businesses in Florida have relied on our law firm for help. You can call today for a free initial consultation.

Meet Our Team of Attorneys

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.