What a Executor Really does and How to Choose One?
Video Summary
What does an executor really do and how do you choose one? Well, whenever you designate a personal representative and you pass away, the personal representative or executor contacts an attorney and reviews with the attorney your will to see if there are any assets that are just titled in your name. Once they determine this, determine that there are assets just in your name, the attorney will explain the probate process where you petition the court to have you be appointed as the personal representative and have what they call letters of administration issued. Once you’re issued letters of administration, you then send out, your attorney will send out for you, notice to creditors giving them a certain period of time to file their claim. They have three months from the date of publication in the newspaper to file their claim. You have the duty to notify them, any reasonably ascertainable creditor, and give them notice so that they can file their claims. You then turn around and start what they call marshaling or getting your arms wrapped around what assets the decedent owned and then determine whether or not they need to be liquidated or whether or not you’re going to distribute it to the beneficiaries. You file an inventory after 60 days and then after the period for creditors expires, you then see about paying any outstanding creditors and then pay the balance of whatever’s in the estate or distribute the assets to the beneficiaries. So if you have any questions about what to do as far as being designated as a personal representative, give me a call. In addition to how do you select one, you have to designate a relative or a person who resides in the state of Florida to be your executor. Your relative does not have to reside in Florida to be able to serve. However, any residents you select in Florida can serve as a personal representative. If you have any questions concerning this, give me a call at 727-847-2288.
- Published in Estate Planning, Videos
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
What Happens If the Person I Chose as Trustee Can’t Serve or Dies?
Video Summary
What happens if the person I choose as trustee can’t serve or dies? Your trust document should name a successor to the named trustee. If the trust document does not name a successor trustee or all the successor trustees are deceased or not qualified to serve, then the beneficiaries will need to petition the court for the appointment of a successor trustee. If you have any questions concerning this, give me a call at 727-847-2288.
- Published in Estate Planning, Trusts, Videos
How Do I Remove a Deceased Co Owner’s Name from the Property Title?
Video Summary
How do I remove a deceased owner’s name from the property title? If the property is held as joint tenants with right of survivorship with the deceased owner, then you need to record a death certificate in the public records where the deeds are recorded. Also, if the property is held as husband and wife, that also creates a right of survivorship, and you need to record a death certificate for the deceased owner and that will vest title or show title is now vested in the surviving joint tenant or tenants. If the property is not held as joint tenants with right of survivorship or as husband and wife, then the deceased co-owner’s name will have to … The title will have to be probated and go through probate proceedings. I might add that you will not receive a new deed just because a deceased owner dies, so you don’t sign a new deed to take their name off the title. That is done by operational law by recording the death certificate in the public records. If you have any questions, give me a call at 727-847-2288.
- Published in Estate Planning, Real Estate, Videos
What Are My Legal Rights If My Neighbor’s Actions (Like Noise, Fences, Disputes, Encroachments) Are Affecting My Property?
Video Summary
What are my legal rights if my neighbor’s actions like noise fence disputes, encroachments are affecting my property? Well, let’s start with noise. If there is a problem with your neighbor having noise or affecting your peace and tranquility for actions which they take on their property, then you have to file an action for a nuisance and ask the court to enter an injunction against them to enjoin them from that activity. It’s usually costly and to get that done, unfortunately, and then you have to have a lot of facts to back it up. And then once you get the injunction, having the injunction enforced is more problematic, and then also expensive as far as encroachments on your property such as fences, things such as that. Well then you file what they call an adjustment action wherein you’re asking the court to direct the people to remove the encroachment from your property. And so that’s a separate cause of action as far as requiring them to remove their encroachments on your property. So, if you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Real Estate, Videos