Video Summary

How do I find out if I’m a beneficiary of a trust? This has been a problem for years that people have faced and that’s part of the purpose of having a trust is so that it doesn’t become public record. So, if someone has set up a trust they usually name themselves if it’s an estate planning trust and then upon their death they name a successor trustee who’s supposed to follow the instructions or what’s set forth in the trust as far as distribution. They need to notify the beneficiaries. If the trustee fails to do that and doesn’t notify you that you’re a beneficiary, it’s very difficult for you to get a copy of the trust in that you’re not entitled to it and you don’t know whether or not you’re a beneficiary so you don’t want to spend much money on attorneys fees to see about for trying to find out whether you’re a beneficiary. If you don’t have a copy of the trust to know one way or the other, well then I’m afraid that you’re out of luck as far as trying to determine whether you’re named in trust. Particularly if the successor trustee does not do what they’re supposed to do and let you know if you are a beneficiary.

So, if you have any questions, give me a call at 727-847-2288.

Video Summary

If you are family but not a beneficiary of an estate, can you find out what the beneficiaries receive? The answer is no, you cannot, and that the inventory for the estate is sealed so that you are not going to be able to get a copy of the inventory. Therefore, you will not know what each of the beneficiaries receive and that there is a final petition for distribution, which then would set forth what is left from the estate after the payment of creditors, and that would show what each beneficiary receives. If you’re not a beneficiary, you don’t receive the inventory nor the final accounting and the petition for distribution discharge. You do not find out whatever everybody receives. Another problem is that many assets are jointly held with non-family members, and that’s not something that’ll be shown in the estate.

If you have any questions about this, give me a call at 727-847-2288. Thank you.

Video Summary

A joint bank account to a third party in a will? Well, that’s sort of a contradiction in terms, and that if you set up a joint account with a third party, then that money will pass to the joint holder under Florida law and will not be controlled by the will, so that the will will not control any joint accounts. So that’s why you need to do estate planning so that you can determine what assets are going to pass outside the will and then what is going to be controlled by your will, so the will will not control jointly owned assets, that’s controlled by the bank contract and the Florida statutes, which says the co-owner of a joint account is entitled to the proceeds upon one of the co-owners’ death.

So if you have any questions about this, give me a call at 847-22-88. Thank you.

Video Summary

Must the will be read to the family presumably after someone dies? The answer is no, and that I am asked this question any number of times, and I don’t know of its origin unless it’s out of the movies in that I’ve been practicing 45 years and this never has been a requirement under the probate code to read the will.

Under our present probate statute a copy of the will is provided to any of the beneficiaries and gives them an opportunity to contest it. No, there is no requirement to huddle all the family or the beneficiaries around to read the will and for them to comment or whatever. It says what it says and they will get a copy of it in the mail, and it’s usually all part of the probate process which the personal representative is responsible and relies upon the lawyer to assist them in sending out copies of the will and letting them know if there are beneficiaries, and if so letting them know how much they are to receive or the will will state how much they are.

So if you would like to probate a will or if you would like to create a will, give me a call at 727-847-2288.

Video Summary

Can I appoint a Guardian for my children in my Will? The answer is: Yes you may. In fact, that is where you usually do designate your Guardian since as long as you’re alive you will serve as a natural guarding of your child. Because you designate someone to be the Guardian does not necessarily mean that they will be appointed because they will do what is in the best interest of the child.

There are two types of guardian. One, the Guardian of the Person who you appoint to take care raising the child and basically serving as their surrogate parent. And then the Guardian of the Property. These can be two different people. That’s the person who takes care of the money for the Minor. At age 18, they receive the money from the guardianship. So, if you’d like to set up a guardianship or provide for a guard in your will, give me a call at 727-847-2288.