Why Would I Want to Avoid Probate?
Video Summary
Why would I want to avoid probate? The primary reason most folks want to avoid probate is the expense involved. Also, there is some delay as far as the distribution of the decedent’s assets if you have to go through a probate proceeding, and so the probate proceeding is designed to make sure that the creditors are paid and the property is distributed to beneficiaries designated by a Will or a Trust. So, there is ways to avoid probate by how you retitle your assets or possibly set up a Trust. If you have any questions, give me a call at (727) 847-2288.
How Can I Simplify Probate?
Video Summary
How can I simplify probate in Florida? Well, the best way to do it is to do estate planning and to avoid probate entirely, and that can be done on how you title your assets and designate beneficiaries. As far as your assets are concerned, the probate is the legal term, which refers to the legal process involved when someone passes away to have their assets transferred to the appropriate beneficiaries under a Will or if they don’t have a Will under the Florida statutes. That also is to protect the creditors, so the creditors can be paid. There are several forms of probate and there’s that depending on whether or not there’s creditors, and also depending on the value of the estate as to whether or not those can be utilized. But the best way to simplify probate is to avoid it entirely, which can be done through estate planning. If you have any questions, give me a call at (727) 847-2288.
What Happens if Someone Doesn’t Claim Their Inheritance?
Video Summary
What happens if someone doesn’t claim their inheritance? Well, if it’s a stocks or money and bank accounts, anything such as that, then after a certain period of time, the company turns the property over to the state of Florida and it’s held in an account for unclaimed property under the person’s name who’s entitled to it, and I think it’s called the Treasure Hunt, but I’m not a 100% sure. But if it’s with that, if you Google Unclaimed Property Secretary of State of Florida, you’ll go to the website and list all the various names that their property there, and there’s any number of companies that try and contact folks to see about getting that for you for a fee. If it’s real property and they don’t ever take charge of it or receive it or have it probated and put in their name, then it is usually just lost for taxes. And so,after a certain number of years, the tax is not being paid, then it’ll be sold on a tax deed sale. That’s what happens if you don’t collect your inheritance. If you have any questions, give me a call at (727) 847-2288.
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.
Can I Be Sued for My Inheritance?
Video Summary
Can I be sued for my inheritance? Once the Estate or Trust is distributed to you, well then in that event you can credit it’s your property and yes, they can sue you as far as that’s concerned. Of course, until such time as your inheritance is distributed to you, it’s going to be controlled by the provisions of a Trust that may have a provision that protects your assets or your inheritance. If you’re receiving it through a Will, they can possibly garnish that if any creditors are involved and you have debts involved, so depending on when you receive your inheritance is whether or not someone can sue you for the money that you inherit. If you have any questions, give me a call at (727) 847-2288.