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November 2014 Archives

Should life insurance be part of a Florida estate plan?

Florida residents who have families are likely aware that having life insurance is a way to help ensure that loved ones have the resources to handle the aftermath of one's death. But there are several types of life insurance, and policies can vary greatly in value. Because of this, it may not be obvious exactly how a life insurance policy fits into an estate plan.

How do I choose what type of Florida trust is best for me?

People in Florida and around the United States are turning to the use of trusts more and more to satisfy their estate planning needs. While trusts are not just for the very wealthy anymore, anyone considering the use of a trust to ensure his or her wishes are carried through may be confronted with a dizzying array of trust types and uses. This is when a professional's opinion may come in handy.

What reports do I file as a guardian of an adult in Florida?

In Florida, any competent adult can petition a court to determine a person's capacity or lack thereof. Once the court has heard the report of the panel appointed to examine a person, the court may declare that individual incapacitated. Next, the court will appoint a guardian to take over some or all of the decision making required for the ward. So, if you have been appointed a guardian for an incapacitated loved one, what does the court require you to submit?

Estate planning: What is Florida "summary administration?"

There are several types of estate administration in Florida law. One type, called "summary administration," which tends to be faster and simpler than traditional probate may be available in certain circumstances. It can be used whether there is a will, or the decedent died intestate, and for both resident and non-resident estates. The main requirement that must be met for an estate to qualify for summary administration is that the total value of the estate that is subject to administration. That is, everything that is not exempted by law, $75,000 or less. Summary administration can also be had, regardless of the value of the estate, as long as the decedent has been dead for over 2 years.

Florida lawmaker wants to address posthumous digital access

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.