How Long Does Probate Take?
Video Summary
How long does probate take in Florida? Wow. That’s a loaded question and it’s very hard to give a general answer to that since you need to look at whether there are a well or not, whether we have know how many beneficiaries are involved and what’s the nature of the assets as far as that’s concerned. So to try and give you a general idea, what it is, the rules of court indicate that the probate administration needs to be concluded within one year. If not, you need to file something with the court, explaining to the court, why the estate administration’s taking longer than one year. An example of that in the event, there was any litigation. So if it is a relatively simple administration where the assets and you have the designated beneficiary stocks and bonds and bank accounts or real estate I would usually tell the client that hires me, that you’re probably looking between six to nine months to probate the estate.
And in order to have it concluded and in the assets liquidated or distributed to the beneficiaries, there are several types of probate administration. There is a summary administration. So if there if the assets are less than $75,000 and arrangement have been made to satisfy their creditors you can file a summary administration and have it distributed directly to the beneficiaries. And that proceeding usually only takes about 30 days. Once you file it with the court, when you have smaller estates, there’s other procedures that can be followed where my it’s still a probate proceeding, but you really don’t have to, it’s short form and just submitted to the court. So, I hopefully gave you some idea, some guidance, although I didn’t really answer the question on how long it takes. It depends on the beneficiaries, the assets, and what’s involved. If you have a probate issue or an estate will give me a call and I’ll be glad to talk to you about it at (727) 847-2288.
- Published in Estate Planning, Probate, Videos
What Legal Documents Should Everyone Have?
Video Summary
What legal documents should everyone have? One, I think of the top of the list is you need to be sure that you have government issued identification such as a driver’s license or an ID card issued by the same as a driver’s license. I don’t know if the department of motor vehicles issues those, but have an ID because you’ll need that. No matter where you go to cash checks or any number of places as far as your estate planning documents, I think everyone should have a living will that would direct whether or not you want life support to be discontinued. If you have a terminal condition, permanent vegetative state or an end stage condition, it really is important. I think that you have a healthcare surrogate or where you designate a healthcare proxy to be able to make medical decisions for you and also have a HIPAA waiver so that they can check on you to find out how you’re doing as far as if you are hospitalized, although you may not be dying like you would be using a living will also consider particularly if you’re by yourself rather than a husband and wife situation is to giving someone that you trust, hopefully a child or a loved one that you consider, or really trust a durable power of attorney who would be able to take care of business for you. And it’s called durable sense. It would be in the event you no longer had capacity. It would also be good to have a birth certificate and if you’re have a marriage license, particularly, for the ladies or the spouses, if you change your name, I think that’s a problem. Whenever you go to have your driver’s license taken care of, if you happen to be divorced and I have a copy of your divorce decree or decrease on the appropriate marital settlement agreements that go with those, if you have any unrecorded agreements. If you’ve entered into a contract with a lease to purchase property, it’s important that you have a copy of the signed documents or the signed documents. If you have promissory notes, are any unrecorded, a legal document that has to do with your rights to collect money or you owe money or you’re purchasing property or leasing property, those would all be documents that you should have in your possession. You have any questions about that will give me a call at (727) 847-2288.
- Published in Estate Planning, LLC's and Corporations, Real Estate, Videos
Can a Bank Refuse to Honor a Power of Attorney?
Video Summary
Can a bank refuse to honor a power of attorney? The answer is yes, they can. They need to advise the person who’s using the power of attorney, why they reject it in order to give the person who is attempting to use it in behalf of a principal to take care of business for someone, and then you can address the bank’s concern. And then if they still refuse to do that, they have some liability, as far as their refusal to allow the agent to act, if the power of attorney is properly execute, it is a real practical problem and that who wants to litigate with a bank on trying to take care of someone’s business for them. And so you need to continue to work with the bank. Some banks are easier to work with and others, my experience has been, they send it off to legal. They don’t even let me talk to you as a lawyer for someone talked to the legal department and it is somewhat frustrating, but yes, they can. The statute provides a must. Let you know why the power of attorney is deficient and they’re not, they’re not having you, not recognizing them. So, if you hand me questions or our guests, I can listen to your frustrations. Call me at (727) 847-2288.
- Published in Estate Planning, Videos
Can a Family Member Override Power of Attorney?
Video Summary
Can a family member override power of attorney? We first need to look what a power of attorney is. The power of attorney is a written document where the person designates an agent to act in their behalf. That doesn’t mean the person who executes the power of attorney cannot still act in their own capacity. It’s simply appointing an agent and the agent, if they exercise that right under the power of attorney, they are required to act in behalf of the individual who granted them the right to act in the person’s behalf. A family member doesn’t have any rights to act on behalf of the person who has granted the power of attorney to a third party. The power of attorney is what gives someone the authority to act on behalf of someone. So, the family member doesn’t have any control over the parties, assets, which you usually, the power of attorney is also a power of attorney terminates at death. So, it’s of no effect. So, if you have any questions about a power of attorney giving me a call at (727) 847-2288.
- Published in Estate Planning, Videos
What is Required to Make a Last Will Legal?
Video Summary
What is required to make a last Will legal in Florida, your wills must be signed and the presence of two different witnesses. And so, you have to have the person making the Will, which they call the test day tour. And the two witnesses, all of them have to be present while all three of them sign the document. You can have one listed later, it can’t be signed later or whatever else the will does not have to be notarized. Now, most Wills that you see today do have a notarization, but that’s on the proof of Will for the will to be admitted into probate. It must be proved. And, if there’s not a certificate at the time they signed it or self-proving Will, then one of the witnesses need to appear at the clerk of the court and swear that the Will was signed in their presence and the presence of the other witness and the person making the Will. So that’s proving the Will. So, the notarization has to do with the proof of Will. So, if you have all those requirements, well, then the will should be admitted to probate and be it admitted to probate. Sometimes in other States they have what they call a holographic Will, which is a handwritten Will, but Florida does not make any exception for holographic Wills. They require even a holographic Will be signed in the presence of two different witnesses. So, if you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos