A recent Florida appellate court decision, 2010 WL 4226204, came to the conclusion that if a trust only has a piece of real property as its sole asset and the trust documents provide an intent that the trust give 5% of its annual principal disbursements to the beneficiary, no monies…
According to the United States Census Bureau, the state of Florida has the highest Population Change and Net Migration of any other state, from the years 1975-2000. As is common knowledge, the baby-boomer generation is growing into retirement age, which increases the likelihood of periods of disability. There are two…
In Florida a spouse can elect to take 30% of the decedent’s elective estate. But what was not answered is what portion of the estate is that 30% applied to? The 5th District Court of Appeal of Florida has answered this question in the case of Paredes v. McLucas .…
It happens frequently. A minor child inherits either personal property, including money, bank accounts, CD’s, money markets, or is left an interest in real property. Who looks out for the best interest of the minor child? Although Florida natural guardians (parents) have all the rights and authority over their minor…
Coming of age in this digital world has its luxuries, but those luxuries come with their own set of complexities. Face Book enables you to connect with friends; blogging sites (such as this one) allow you to express your ideas to the world; and paying your bill over the Internet…
In a Bill supported by the Banks, you will no longer be able to obtain Springing Powers of Attorney in Florida. In addition, not only will you be required to have two witnesses sign in your presence like with a Florida Will or Florida Revocable Trust but you will also…
There has just been a progressive change in the trust law governing the revocation of a revocable trust in the state of Florida. With bill HB 325, Governor Rick Scott signed into effect a law allowing a person who has had their interest in a revocable trust revoked, to challenge…
In order for a person to attempt to reform a trust, that person must “have standing.” This designation refers to a person who has an interest in the trust. This person can be a trustee, beneficiary, or a trustee and beneficiary. A settlor, the creator of the trust, gets to…
If you are a married person in the State of Florida and have not created a Florida Will or Florida Revocable Trust you should fully understand what will happen to your assets when you die. Previously in Florida, if a husband or wife passed away with only children belonging to…
Suppose your parents set up a tax planning Florida Revocable Trust with the assets being held for the kids in trust. Under the terms of the trust, the trustee is to distribute net income and principle as the trustee determines is necessary for education and support in reasonable comfort. If…