Probate can have the reputation of being a nightmare, and many hate the idea of going through this process. If the idea of transferring your assets through probate daunts you, then you will be happy to know that living trusts can avoid probate. The probate process is usually more expensive…
Over the last year I worked with an intern in our office of a Law Review article for Texas Tech University. This article describes problems with current estate planning and takes the premise that most estate planners have become lazy because of advancements in technology. That is, most only ask…
The grapevine is full of rumors about probate. Some of them are true, but many of them are more than misguided. The fact that each state has a different probate procedure makes the process harder to understand. If you want to get a general grasp about some basic rules of…
Every trust needs at least one trustee to administer the trust and to carry on its terms. If a person designated as a trustee ceases to act as one, then a vacancy in the trust occurs and it might need to be filled. Succession of trustees is perhaps one of…
This process lets someone who paid for a decedent’s final expenses, from the funeral or from the last illness, to be reimbursed from the assets of the decedent’s estate. This process is only available if the decedent did not leave any real estate and the only assets in the estate…
There are to main types of probate administration in Florida: summary administration and formal administration. Summary administration can only be used when the total value of decedent’s assets subject to probate are $75,000 or less, or when the decedent has been dead for more than two years. Formal administration is…
Below is a summary of the more common ways that property is transferred in the state of Florida when someone dies. Somebody just died leaving you an interest in a piece of property. To reclaim your interest in the property you must prove that you own it by documenting the…
When someone dies, his or her assets will not necessarily be distributed automatically to those entitled to them. If a person dies with a Will that devises his or her assets to you, then probate is necessary to carry out the instructions of the Will. Similarly, probate becomes necessary when…
You can transfer ownership of your real estate property through probate, or by signing an instrument known as a deed.1 Using a deed to transfer ownership of your real estate allows you to bypass probate, but there are some risks associated with this alternative. This blog discusses the advantages and…
What happens if I die without a will in Florida? Florida probate law has changed recently with regard to people who die intestate (without a will) and are married. If you have no descendants, your entire intestate estate will go to your spouse. This does not typically include your home…