What Happens When Parents Pass Away Without a Will?
Video Summary
What happens when parents pass away without a Will? Well, whenever someone passes away without a Will, the Florida statutes designate who is to receive the assets or who the beneficiaries are. Since you’re using parents, I assume that they are married, and so you would record death certificates for both of those. Then you would look at the last parent who passed away and determine who the children are of that decedent, and based upon that, they’re the ones who would inherit his estate, his or her estate under the Florida statutes and the event that the decedent had no children, then the beneficiaries are his parents. If his parents had predeceased them, then it goes to his siblings and their siblings children. If any of them have predeceased them, this is, if you have any questions about it, give me a call at (727) 847-2288.
How Can I Reduce Potential Conflict Among Beneficiaries?
Video Summary
How can I reduce potential conflict among beneficiaries of my estate or trust? Well, one suggestion I have is to appoint an independent or third-party trustee who is not a beneficiary, so that they can state that he is favoring himself, and that way the independent trustee or personal representative can administer the trust or a state and make the distribution, pay the creditors’ claims. And then if the beneficiaries have problems with some of the other beneficiaries, well the trustee can say, well, that’s up to you if you wish to file an action as far as that’s concerned. But I’m willing to follow the directions under the trust and that way whatever assets are titled in the trustee’s name or in the decedent’s name will be distributed pursuant to the provisions in the will or trust, and so for which they’ll receive a fee for serving as an executor or trustee. If you have any questions about your will or trust and how to do this, give me a call at (727) 847-2288.
- Published in Estate Planning, Probate, Videos
Probate Lawyer Vs Estate Planning Attorney What’s The Difference?
Video Summary
Probate lawyers versus estate Planning lawyers. What is the difference? Well, let’s talk about estate planning. Lawyers first, estate planning lawyers are employed while you’re alive, and they do the planning for whenever you do pass away. They can plan your estate through a trust a will. Most of the time, whenever I speak with my clients, as far as estate planning’s concerned, they wish to try and plan their estate to avoid probate. A probate lawyer is the one that is employed by your executor or trustee to assist in the administration of the estate or the probate proceeding and or the administration of the Trust, so they are employed by your personal representative or heirs. And in order to probate your estate and distribute your assets after the payment of creditors after your death, so one, the estate planning lawyer is employed while you’re alive to plan your estate, the probate lawyer follows the plan and is employed after your death to administer the estate and distribute your assets to your beneficiaries. If you have any questions, give me a call at (727) 847-2288.
How Easy Is It to Set Up POD On Bank Accounts, What’s Involved?
Video Summary
How easy is it to set up a POD on a bank account? The POD stands for “payable on death”, and it is very easy. All you must do is contact the bank where you maintain your account, or if you’re going to open an account, tell them that you wish to put a payable on death or a POD designation on the account and give them the names of who you wish to receive these accounts. Upon your death, they will prepare a signature card and then you simply sign the new signature card. Various banks have various requirements. I’ve heard of some where they’re asking for the social security numbers of the beneficiaries, but the beneficiaries would not usually do not have to sign the signature card since they would have no interest in the account until such time as you pass away, but it’s up to the individual banks, but it should be very easy to do simply by signing the signature card. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Probate, Videos, Wills
How Long Will It Take to Create Estate Planning?
Video Summary
How long will it take to create an estate plan? Well, once you set up an appointment with an attorney and you provide ’em with all the information as to whom you would like to receive your assets, whether or not you want to Trust, and also who you want to make medical decisions for you. After he takes all the information in my office, I advise that I will send to them in the in mail, the documents for them to review and 10 to 14 days. The reason for sending them out by mail for them to review is so that they have a chance to read it, reflect on it, and make sure that that’s what they want, and also to correct any type of graphical errors. After they receive the documents, they call my office to set up an appointment and that I furnish the witnesses and the notary public as far as the proof of will and the notary and the power of attorney. So, it really depends on the attorney as far as how quickly it would take to put together your estate plan. After you have set the appointment up with the attorney and provided him with all the information, if you have any questions, you can call me at (727) 847-2288.