What is a Probate Dispute Defined As?
Video Summary
What is a probate dispute defined as? It’s usually a Will contest where someone contests the validity of a Will. It can also involve the payment of creditor’s claims, the inventory, the administration of the estate by the personal representative. So, it is whenever there’s litigation involved as far as the administration of the decedent’s estate. If you have any questions, give me a call at (727) 847-2288.
Is It Hard to Overturn a Will in Florida?
Video Summary
Is it hard to overturn a Will in Florida? The simple answer is yes. You have two primary grounds for overturning A Will is one is that the person was incompetent at the time they signed the Will. This is a very difficult case to prove since you have to show at the time they signed the Will, they were incompetent, not before or not after, and particularly if it was signed in a lawyer’s office. The lawyer is going to be the primary witness and so that’s very difficult to prove. The other basis for overturning a Will is undue influence where you have to prove that someone unduly influenced or influenced the person who made the Will to make it and exclude you from it or change the provisions of the Will a previous Will. So yes, it is difficult and expensive. If you have any questions, give me a call at (727) 847-2288.
Are There Any Tax Implications When an Estate Is Settled?
Video Summary
Are there any tax implications when an estate is settled? The number one, is Florida has done away with estate taxes, and the federal government has raised the federal estate tax limitation in 2024 to above $13 million. So, there’s no estate tax implications in most estates in Florida. The personal representative is charged with filing a tax return for the estate for any income that it received. And so, the tax implications are, is that you deduct the administration costs from the income of the estate, and if there’s any income that’s been distributed out to the beneficiaries, they’ll receive K one and must pay income tax on it. One of the big benefits of inheriting property, however, is you get what they call a step up in basis and the property. If you inherit property or stock, and that you take the asset at the date of death value. And so, if the date of death value is a hundred thousand dollars and you later sell it for a hundred thousand dollars, you don’t have to recognize any gain. You don’t have to go back and determine how much the decedent paid for the property. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Taxes, Videos
Is Litigation the Only Option to Settle Real Estate Disputes?
Video Summary
Is litigation the only option to settle a real estate dispute? Well, yes, it is. If the parties can’t reach any sort of an agreement, there are some settlement options. If both parties have attorneys, they may agree to pre-suit litigation, or excuse me, mediation and so to see if the matter can’t be settled, but both parties have got to want to try and reach some sort of agreement. However, if you’ve got either party that doesn’t want to settle the matter, well then you don’t have any option but to go ahead, hire an attorney and file a lawsuit to resolve the real estate dispute. If you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate, Videos
Is It Safe to Do a DIY Will Services?
Video Summary
Is it safe to do a DIY Will service? I would say no, it is not safe, and the will has to be executed with a certain amount of formalities and there are certain aspects of will that you need to have the guidance of an attorney. And so, I would strongly recommend not trying to do a will by yourself because it may not be effective. And that’s the whole purpose of will is to avoid problems whenever you pass away. Strongly suggest you contact an attorney. It’s not that expensive as far as having a will prepared as well as other estate planning documents such as living Wills, healthcare, surrogates, which has a HIPAA waiver, and durable powers of attorney. See if I have any questions. Give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills