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

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

Can you keep other beneficiaries from knowing what you receive from an estate. You cannot and that the will that you have probated is public records, so that will show if you’re receiving what everyone’s receiving. If it’s a part of whatever’s left over after paying the creditors, which is called the residuary portion of the estate, and not set forth in the will, whenever there’s a petition for distribution, well, then attached to that it shows how much each beneficiary is receiving and that’s sent to everyone and hopefully all the beneficiaries are the ones that will agree to the distribution so that it does not have to be filed with the court.

The inventories for an estate’s are sealed and are not public record so only the beneficiaries will know what everyone receives and that they received the will as well as a petition for distribution and discharge.

So, if you have any questions about an estate administration 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.

Video Summary

Can I dispose of my property any way I wish? I assume that you’re speaking of putting … Whenever you pass away, putting it on a will or a trust. The answer to the question is, is if you, yes you may, except if you’re married and then there are some limitations. As far as like your homestead, you cannot leave it to anyone you wish if it’s your homestead property, real property. You have to provide for your spouse. Or if you have minor children, you cannot dispose of it.

Any other assets, maybe you can leave it to anyone you’d like under the terms of your will. If you’re married and exclude your spouse, they have a right to what they call an elective share wherein they can claim a 30% interest in any and all assets that you owned prior to your death.

The answer is a qualified yes, except as far as your homestead property. Of course, and if you have property that you own as husband and wife, you cannot convey that or leave that to anyone, or property you own as joint tenants with right of survivorship in a will or trust.

So, if you’d like to do some estate planning and discuss these matters, well, give me a call at 727-847-2288.