Recent Blog Posts
Recent Changes to Gifts to Minors or Healthcare Surrogates
Have you ever wanted to transfer property to a minor as part of your Will, Trust or an outright gift, but did not want to burden the Executor or Trustee with the obligations necessary to control the gift; or maybe the minor is simply too immature to manage such gift. Back in 1985, there… Read More »
Homestead – Will I Lose My Home and Who Will Get It
I often get asked if my spouse dies and he or she has many medical or nursing home bills that can’t be paid because of our financial situation, will I lose the home. The answer is NO with some caveats. If you are a Florida resident your home cannot be forcibly sold to pay… Read More »
Spendthrift Versus Discretionary Trust Provisions
Most trusts and Wills contain a clause or paragraph regarding a spendthrift provision. Some trust provisions also provide a sentence or statement about a trustee’s ability to act in their sole discretion with regard to distribution of assets to a beneficiary. What is the difference between a spendthrift and a discretionary provision and which… Read More »
Notice of Administration – Why It Is so Important
If you have ever experienced the administration of an estate, your attorney has probably advised you on the necessity of serving a Notice of Administration on all interested persons of a decedent’s estate. The real question is who should be served with such notice and what purpose does it serve. The main purpose of… Read More »
Are Your Ira’s Exempt from Creditors – Maybe and Maybe Not
The Florida Legislature created Florida’s statute Chapter 222 which lists a variety of exemptions from creditor claims. One of those exemptions is to protect individuals IRA’s under a plan that qualified for 401(a), s. 403(a), s. 403(b), s. 408, s. 408A, s. 409, s. 414, s. 457(b), or s. 501(a) status under Federal code…. Read More »
Homestead – Life Estate or Joint Tenant in Common – Some Considerations?
Under normal conditions the passing of a married couples’ property is simple, the real property is held in joint names and at the death of one of the spouses the property immediately transfers to the surviving spouse by operation of law. But sometimes there is a breakdown in relationships or the married couple marries… Read More »
99 Year Leased Property Safe from Creditors
For those persons who reside in a development where the possession of property is based on a 99 year lease (e.g. certificates of membership are issued), you can now consider your property safe from forced sale by creditors during life and following death. In essence, the law now recognizes long term condominium leaseholds as… Read More »
Personal Representatives – Who May Serve
If you ever had a Will prepared for you there is moment when you are asked who you would prefer to serve as the personal representative (sometimes called executor) of your estate. A personal representative is the person who will administer your estate following your death. What is sometimes forgotten is that the person… Read More »
Durable Power of Attorney – What Is It?
Generally speaking a Durable Power of Attorney gives another person (known as the Attorney in Fact or Agent) the ability to step into the shoes of the person who signed the instrument (known as the Principal) and do everything they can do. The purpose of most Durable Powers of Attorney are used to manage… Read More »
Asset Protection and Your Revocable Trust
Lawyers are frequently asked if a client’s non-exempt assets are protected from creditors when placed into an individual’s revocable trust. Sadly, the answer is no. The only means by which a person could have their non-exempt assets protected from creditors when placed into an individual revocable trust is to have a spendthrift clause coupled… Read More »
