While personal income tax returns and gift tax returns for taxable gifts made during 2011 are due on or before April 17, 2012, estate tax returns for decedents who died during 2011 are not due on April 17, 2012. If a decedent who died in 2011 is required to file…
In Florida when a Summary Administration is used to Probate an estate the Florida Probate must be converted to a Formal Administration to allow for a will contest. There are time limits to object to a will so it is important to file documents timely. If the probate has not…
John Buchanan has an article in Central Florida’s Agri-Leader which was published on October 24th which discusses the effects of the expiration of the estate tax exemption on farmers. Many farmers end up loosing farms because of estate taxes and the inability of their families to become liquid enough to…
In the case of Bowdoin v. Rinnier, 81 So. 3d 582 (Fla. 2d DCA 2012) The Decedent died intestate, leaving her husband, and a minor child as her sole heirs. Decedent’s mother, filed a petition for administration seeking her appointment as personal representative. The surviving spouse filed a counter-petition for…
Florida is a rather unique state in rights associated with homestead exemptions from forced sale. In a nutshell, it is nearly impossible for creditors to force the sale of a homestead (a situation famously highlighted by OJ Simpson, who purchased a large estate in Florida in part to avoid creditors).…
Will caveats: one more reason why hiring an attorney is a good idea for estate planning. Will caveats are, basically, objections to a will. For example, let’s say Father dies, leaving his entire estate to his niece. That is awfully nice of him, but it probably won’t make his two…
Serving as a personal representative to an estate comes with many rights and obligations (see Chapter 733 of the Florida Statutes). One of those duties, for example, involves contacting creditors of the deceased person and letting those creditors know of the death. Those creditors then have a period of time…
On a regular basis we handle probate cases for families where the decedent tried to make their own will or tried to modify it themselves. Below is an example of a will that was created from a form or copied from someone else. While the will was validly signed as…
In Florida, a personal representative (PR)is a fiduciary who shall observe the standards of care applicable to trustees. A personal representative is under a duty to settle and distribute the estate of the decedent in accordance with the terms of the decedent’s will and the Florida Statutes, always considering the…
With a little careful planning, you may be able to avoid the probate question all together. Avoiding probate saves money and greatly reduces the strain placed on your family by time in court. A meeting with an estate-planning attorney can help you figure out how to structure your estate so…