Are Probate Court Records Public and How Can I Keep My Estate Details Private?
Video Summary
Are probate court records public and how can I keep my estate details private? Yes, probate proceedings are public record. One of the things that is not public record in a probate proceeding is the inventory, so no one can find out what’s in the estate other than the attorneys who represent the personal representative or represent a particular beneficiary. So if that’s the detail you’re concerned about, it is not public record. If you want to keep all the details of your estate private as to who receives it, as well as the assets, you should consider putting your assets in a Trust and executing a Trust document and that way they will not be public records. If you have any questions, give me a call at 727-847-2288.
How Does Month to Month Tenancy Work, and How Much Notice Is Required to End It?
Video Summary
How does a month-to-month tenancy work and how much notice is required to end it? A month-to-month tenancy is established when the tenant occupies the property and pays their rent on a monthly basis. In order to terminate this month-to-month tenancy, you need to give them 30 days’ notice before the next rental period starts. So that in order to terminate, sometimes month-to-month tenancies come into existence after a lease is expired and the parties don’t renew the leases. If you have any questions, give me a call at 727-847-2288.
- Published in LLC's and Corporations, Real Estate, Videos
Probate vs Trust Administration – What’s the Difference in Settling an Estate?
Video Summary
Probate vs Trust administration. What is the difference in settling an estate? Well, let’s define what a probate proceeding is. It is a court proceeding whereby a Will is admitted to probate and which is public record and notice is given to all the beneficiaries. A notice to creditors is sent out for all the creditors to file their claims, and then you go about settling the estate by paying the creditors and making distribution of the estate assets. So that can be accomplished in probably three to six months. If it’s a relatively simple estate, it should be done within one year as far as an estate administration. As far as settling the estate, if all the beneficiaries are in agreement and all the creditors have been paid, you can have all the beneficiaries sign a waiver in consent to the closure of the estate and waive any accountings and agree to the discharge of the personal representative and the estate being closed. With an estate administration, the Trustee undertakes to see that the creditors are paid, files a notice of Trust, and then undertakes to distribute the assets and pay the claims. You don’t have to go to court for any of this and all of this is not in the public records. So that’s the difference between the two as far as settling your estate. If you have any questions, give me a call at 727-847-2288.
How Can I Contest a Will If I Believe It’s Invalid or Unfair?
Video Summary
How can I contest a Will if I believe it’s invalid or unfair? You cannot attack a Will or ask it to be set aside if you believe it to be unfair. Those are the decedent’s wishes and they don’t have to be fair. They can leave it to anyone they want with a few exceptions as far as spouse or children that have not been provided for and only controls assets that are just in the decedent’s name. The other basis for challenging a Will is in the event that you can show that the decedent was incompetent at the time they executed the Will. This is a very, very high threshold. There’s cases that say even if they’re on a guardianship, they could have a lucid moment at the time of signing and the Will would still be valid. Usually the Wills are attacked based upon undue influence where one of the beneficiaries has or the beneficiary, the primary beneficiary has influenced the decedent to sign this will leaving everything to them or the majority of the estate. By the way, will contests are very expensive as far as the attorney fees are involved. There should be a lot of money at stake before you try and undertake to challenge a Will. If you have any questions, give me a call at 727-847-2288.
What Should I Know Before Buying a Home in a Community with an HOA?
Video Summary
What should I know before buying a home in a community with an HOA? Well, if you’re using a realtor, you need to ask them to provide you with a copy of all the restrictive covenants and review those to make sure that you understand them or have a lawyer maybe review them for you. You then need to determine what the monthly assessments are so that you know how much you’d be obligated to be paying each month. You need to ask for a budget for the assessment to see if they have line items for reserves and the budget meets with the present statute. Also ask for the minutes of the last meeting, which may indicate whether or not there is a proposed assessment that the board of directors is considering. So all of these are necessary. You may also inquire as to whether or not there are two or more homeowners’ associations and that there may be a master association that requires payment of a due and a regular homeowners assessment, a homeowner association that assesses your property. If you have any questions, give me a call at 727-847-2288.
- Published in Estate Planning, Real Estate, Videos