It's no secret that, as people get older, they tend to become more vulnerable to scams that could threaten the assets the elderly person has worked so hard to accumulate. Undue influence is the legal term for wrongfully persuading or otherwise tricking a person into changing his or her end-of-life documents, and it is unfortunately a problem in Florida and throughout the country.
Legal instruments such as trusts and wills specify the distribution of someone's personal property to the estate's beneficiaries. Trust administration is typically an orderly process when it is handled properly. The following story shows how trust administration can be greatly complicated by an administrator's alleged illegal acts.
Individuals who wish to distribute their estates among their heirs may accomplish this with a variety of legal instruments such as wills and trusts. Estate planning should cover as many contingencies as possible to ensure that the beneficiaries receive their shares of the estate. Readers in Florida may have heard about the following case involving a dispute over a large estate.
When a large estate has a seemingly unexpected beneficiary, the courts often must decide if the latest will is valid. Those working on estate planning in the Orlando area who fear they may have bequests that others might deem eccentric will be gratified to learn that an appeals court in another state recently upheld the requests of one eccentric millionaire, the late John du Pont.
Estate planning is important regardless of whether your assets total $10,000 or $100 million. Either way, it's critical to have good legal advice and to understand the laws that can affect your assets. While having $100 million in assets is rare, that's the figure at the center of a debate over the estate of food entrepreneur Jeno Paulucci.