What Is a Complex Will?
Video Summary
What is a Complex Will? Well by the very word complex, means that it has any unusual or a lot of various provisions in the Will itself. There’s not a particular title that goes along with that, that I’m familiar with. As far as a Complex Will, I would suggest that it probably, would include what they call a testamentary trust provision or a trust provision of the Will that says, upon my death that a certain portion or all of my estate will be held by a trustee and paid out to the beneficiaries over a certain period of time. It can also, be complex if it has numerous, specific devices or gifts that, which, that does signate to be paid out at the time of their death. So that would be my understanding of a Complex Will. If you have any questions, give me a call at (727) 847-2288.
I Am Ready To Retire, What Legal Documents Do I Need?
Video Summary
I am ready to retire, what legal documents do I need? Well, whether you’re retiring or not retiring, you should contact an attorney to do your estate planning documents. That would include a will and a discussion with the attorney as to whether you want a Will or whether you want to do a trust and how you want your assets to pass. Sometimes you can title your assets so that they automatically pass through the beneficiary to avoid probate, and that’s usually something that everyone’s concerned about: is to avoid probate as far as that’s concerned. In addition to a Will and the discussions on who you would like to receive your assets at the time of your death, it is important that you designate a healthcare surrogate. That is a person that can make medical decisions for you in the event that you go on the hospital and you’re not able to make those medical decisions. Also a HIPAA waiver, whereby you’re authorized in the release of your medical information. If you go into the hospital or any medical provider would be authorized to release this information to you, particularly if you’re hospitalized and they want to check to see how you’re doing. It’s usually a loved one that you would want to give this to, so they can find out how you’re doing and check with the doctors as far as the prognosis is concerned and the diagnosis and, when they can expect you to be able to return home. If you have any questions about this, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills
Could I Encounter Problems With a Basic Boiler Plate Will?
Video Summary
Could I encounter problems with a basic boiler plate will? The answer is yes. One will, does not cover everybody. Everybody’s circumstances are usually different. It would you’re primary paying an attorney to talk to you about your estate plan rather than just drafting a Will. Most of my clients are concerned about probate and do not want to have their assets go through probate. A Will, does have to go through probate if you have assets just in your name alone. Further, whenever you sign a Will, it has to be done with some formality and that it has to be signed in the presence of two different witnesses. And, all three parties have to sign in. Each other’s presence for it to be valid, does not have to be notarized. In addition to having a Will, there are other documents that you should be considering whenever you’re doing your estate plan are drafting a Will or having a will drafted, such as a living Will or a dying declaration, a healthcare proxy form, or a designation of a healthcare surrogate, and a durable power of attorney. If you have any questions, give me a call at (727) 847-2288.
Do I Have To Pay My Mother’s Bills When She Dies, If I Am On Her Bank Accounts?
Video Summary
Do I have to pay my mother’s bills when she dies if I am on her bank accounts? The answer is no, you do not. You’re entitled to the money and it’s a contract with your mother and the bank as to your ownership of the account or being a beneficiary. The bank will disperse the money to you under either scenario, and those are your monies to keep. The creditors are only entitled to file claims in a, in the heir estate if she has one. And her estate consists of only assets that were just in her name alone and does not cover assets that are jointly held. So, just because you’re a co-owner and she has outstanding bills, you do not have to use that money to pay her bills. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills
How Do I Decide What Type of Will Is Best For Me?
Video Summary
How do I decide the best Will for me? Well, that is by discussing with your attorney, your situation, meaning, well, are you married? How many family members you have, who you want to receive your estate, whether or not they are minors, whether they have special needs. All of these things go into considering who you want to receive your assets and what type of well is best for you. Whether it be a trust, whether it be a testamentary trust, meaning a trust inside your will, or whether it’s simply designated who you want to be, your beneficiaries and what percentage they receive or specific devices as far as the amount of money or certain personal property. So that is what you need to discuss with your attorney as well as your other estate planning documents such as your power of attorney, living well and a designation of a healthcare surrogate. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills