The Uniform Laws Commission attempts to promote stability and consistency in state statutes by promulgating uniform laws that states can use in their own legislative processes. The commission has delved into the area of trusts and estates by publishing a "Uniform Probate Code." In an attempt to keep up with common practices in the area, a section of the Uniform Probate Code addresses the use of so-called "trust protectors," a convention that has become more popular in recent years. Florida has modeled its own trust protector statute on this section. The question then arises, what is a trust protector?
Having a solid estate plan is essential if you wish to have some control over how your assets are distributed after you die. We have discussed some ways of avoiding probate in Florida and the delays and costs associated with it. But for various reasons, probate is sometimes necessary, so it might be a good idea to take a look at the more likely legal justifications someone might have for challenging all or part of a will.
A state legislator in Florida is considering introducing a bill that would try to standardize the ability to access a dead person's digital assets. Because people's on-line lives have grown larger with each passing year, there are quite a few instances in which it is important that someone be able to get into a deceased individual's online accounts.
Many Florida residents may well have heard of the probate process and they may also have an idea that it has something to do with wills and estates. But many people may not understand exactly what probate is, and when it applies. One good resource for such questions is the Florida Bar.
Florida residents are, no doubt, fully aware of the "digital revolution." Many people's online lives rival their "real lives" in scope and intimacy. As many Internet users know, there are myriad ways to communicate, store and share through email, photo services, and social networking websites. A question arises then: what happens to digital Internet accounts when the account holder dies?
Residents of Florida may be aware that various types of assets come with forms that must be filled out to designate to whom the holder wishes the asset to go on the occasion of the holder's death. What they may not know, however, is that those forms can take precedence over the division of assets that is stated in a person's last will and testament.
As most Floridians may know, Rosa Parks was a figure of stature during the Civil Rights movement of the 1960s. Her defiant stand against segregation in public transportation helped spark the beginning of the end of the Jim Crow Era. Unfortunately, her legacy is now partially in the hands of a probate judge as her heirs are in litigation over the distribution of some of her effects.
Florida has a large population of older residents, and remains a destination for individuals who have retired from lucrative professions. A significant number of these people either have a spouse who has died or have been divorced, and are contemplating getting married again.
The so-called "five W's" are generally associated with the field of journalism as a way to describe the minimum components necessary to write an informative story. However, using this idea in the estate planning realm can help individuals, including residents of Florida, to organize their thoughts when it comes to planning an estate to help minimize the potential for probate litigation.
Estate planning can encompass a wide variety of legal and financial issues, including the use of trusts, retirement income planning, powers of attorney and medical directives, to name a few. The oldest, and perhaps most fundamental, estate planning document is the last will and testament. Wills are a common device used to transfer property from the testator to heirs. The process generally used to act on a will's contents is the probate process. Because this process can be complicated, and varies from state to state, there are several issues with which individuals may need help.