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Creating a power of attorney in Florida is a proactive step toward decision-making during incapacitation. Failing to establish these documents may lead to a court-appointed guardian making crucial decisions on your behalf, potentially deviating from your preferences....
As life unfolds, so do its complexities, meaning periodic reviews of your will are a good idea. This document ensures that your wishes are accurately reflected in the event of your passing, especially for the sake of your children. Creating or updating a will can be...
Completing your last will and testament still might not put your mind at ease. You know your family will still have to go to probate court to secure their inheritance. Fortunately, creating a trust could spare your family a lengthy time in probate. The basic benefit...
Writing your will is a crucial part of creating any estate plan. However, many people also choose to include living wills in their plans, which serve a distinct purpose and can complement a will. Comprehending the differences between a will and a living will can help...
Did you know that only 34% of Americans have an estate plan? This means more than 60% of Americans die without even the most basic will. If you lack an estate plan, your heirs will undergo a lengthy and costly probate process. Therefore, consider these strategies to...
When developing an estate plan, you should explore strategies to help manage your property and pass on assets to your beneficiaries without hitting major roadblocks. Enhanced life estate deeds, sometimes known as "Lady Bird Deeds," can help transfer real estate...
There are numerous benefits and downsides associated with serving as a personal representative for someone else's estate. Not only does this require a lot of skill and responsibility, but it also opens you up to lawsuits. Thus, it is prudent to ask whether or not such...
The death of a parent or a person with an estate often requires the paying off of debts. This task can fall to the surviving children, to a spouse or to a personal representative named in an estate plan. Each state outlines the steps that both estates and creditors...
You have probably been responsible and developed a financial plan, including a plan to pay for your retirement. However, have you taken the time to build an estate plan that distributes your assets upon your death? If you are like many individuals, you may think that...
Because it can be a lengthy and expensive process, avoiding probate is an estate planning goal for many people. Florida law provides two ways to settle small estates without going through the probate process. How do small estates avoid probate and which estates...
