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May 2013 Archives

Woman sues clerk of court over access to probate assets

An out-of-state lawsuit has been filed by a woman who was removed as administrator of her husband's estate by the clerk of court there. It appears that the estate contained assets of property and bank accounts in Florida. The woman's husband died intestate, meaning without a will, in 2012. After his death the woman was granted letters of administration, and requested that all the probate assets be transferred to her as she and her son needed over $330,000 in immediate assistance from the probate court.

Florida auctioning $1 billion in unclaimed assets

In Tallahassee, the government keeps a storehouse of valuables that have gone unclaimed from safe deposit boxes over the years. Many times, these items end up with the state because no heirs can be found when an estate is distributing the assets of a deceased Floridian, or the executor and heirs are not aware of their existence.

Estate Planning in Florida is not just for older people

For most 18-year-olds getting ready to head off to college, planning for potential incapacity or death is the farthest thing from their minds. As the school year comes to an end here in Florida, parents will be helping graduating seniors get ready for their futures by helping them prepare to leave home and be on their own. One thing young people and their parents should not ignore, however, is some aspects of estate planning. Even if the student's only assets are some clothes, a cell phone and a gaming system; estate planning is a useful tool.

Retirement income plan must take health care costs into account

A new survey from the Employee Benefit Research Institute indicates that over 50 percent of people nearing retirement age don't know if they've saved enough to cover future health care costs. As most West Palm Beach residents know, the costs of health services are only going to increase in the future, with rate of medical care inflation being between five and seven percent. Because of this, individuals making an estate plan must take into consideration the cost of future health care when determining the sufficiency of their retirement income.