If a person dies and owns anything that does not transfer upon death like a bank account, car, home, retirement account, or accounts receivable a Florida Probate is necessary to transfer these assets to the rightful owner. It does not matter if they have a will, a trust, or any…
Forbes.com has an article on where not to die. Sixteen states and the District of Columbia (shaded in red) impose their own estate taxes. The dollar amount exempted from tax (in black) and the top tax rate (in yellow) vary by state. Eight states (shaded in orange) levy an inheritance…
The following states will have an inheritance tax in 2009 Estates in excess of $3,500,000: NC, VT $3,000,000: OK (tax expires after 2009) $2,000,000: CT, IL (tax expires after 2009), WA $1,000,000: DC, KS (tax expires after 2009), ME, MD, MA, MN, NY, OR, TN $ 675,000: NJ, RI $…
A retirement plan distribution is not taxed in the year received if it is “rolled over” to the same or a different retirement plan or IRA, if various requirements are met. § 402(c)(1). A rollover means either: A. 60-day rollover. A distribution from one plan or IRA to the participant…
Professor Gerry Beyer, author of the WIlls, Trust & Estates Professor Blog wrote an article where a Texas court admitted a copy of a will which gave most of the assets to the decedents sister instead of the children. The will had been seen shortly before the decedents death and…
Under Florida Law, the fees for a probate must be reasonable. Many lawyers charge the statutory rates of approximately 3% of the estate. This fee schedule is only a guideline and is not necessarily reasonable. In addition, we have seen probate fees that include the percentage on non probate assets…
Recently an Australia Judge allowed a defendant in a law suit to be served copies of court papers by their Facebook account. The Legal Blog Watch has an article posted by Carolyn Elefant – Court Papers Served By Facebook After the judge was satisfied that the defendant was the same…
When is a Jacksonville Mediator helpful in resolving a Florida lawsuit? After your Jacksonville attorney has filed suit, or you have been served with one you may quickly find that thousands of dollars are spend in attorney’s fees and costs. There are fees for pleadings and counter-pleadings, requests and responses…
In Florida if you are a beneficiary a potential heir, you are entitled to an inventory and accounting. As An Atlanta Georgia Estate Planning Lawyer wrote in their article AS A BENEFICIARY OR HEIR OF A GEORGIA PROBATE ESTATE, YOU ARE ENTITLED TO AN INVENTORY AND ACCOUNTING IN GEORGIA PROBATE…
While a Florida Revocable Trust can avoid the necessity for a Florida Probate to be filed, there are often circumstances that require a Probate. A Florida Revocable Trust only eliminates the need for a probate when it is funded and to the extent that your assets are inside the trust…