When Should I Make Updates To My Estate Plan
Video Summary
When should I update my estate plan? You should update your estate plan when there’s a change in circumstances. This is usually whenever the beneficiary passes away. Particularly whenever you have a husband and wife situation and you lose your spouse, that’s a good time or a reason to update your will to them. Look at your designated beneficiaries to see if they’re still the same. And also as far as selecting who your personal representative, if you want to be and do further estate planning in order to avoid probate. Also, if your personal representative becomes disqualified or dies, that’s another change in circumstance that you may wish to change your will or update your estate planning documents. Also, there can be changes as far as your children or your beneficiaries are concerned, their life, changing situations such as, alcohol or drug abuse. And if you wish to eliminate them while you should update your estate planning documents, or even who you wish to have as your power of attorney, or can make medical decisions for you. So if you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills
Does My Will Have To Be Probated
Video Summary
Does my will have to be probated? Your will does not have to be probated unless you have assets that are just in your name alone by having a will designating, the beneficiaries does not avoid probate. What avoids probate is titling your assets with a beneficiary designation or holding those assets jointly. So whether or not your will has to be probate depends on whether or not you die owning any assets that are titled just in your name. Most of the time that I see is it’s real estate that is in the decedent’s name and there’s no beneficiary designated on the deed. So to avoid probate, you can do estate planning. So if you have any questions about probate or how to avoid probate and estate planning, call me at (727) 847-2288.
- Published in Estate Planning, Probate, Videos, Wills
Can a Portion of a Will be Invalid
Video Summary
Can a portion of a well be invalid? The answer is yes. it can be. One of the reasons I primarily see it being invalid is whenever you make out a will, husband and wife and you leave everything to your spouse, and then you later get divorced, the law provides that, portion of the will, where you left everything to your wife is ineffective. A divorce interprets the will as if the ex-spouse predeceased you. And it would go to the alternate beneficiaries. Another reason is, if you put some provision in your will as to your homestead property, and you don’t leave it outright to your spouse, or if you have minor children, you try and devise it to someone. That portion of your will may be invalid since the Florida constitution governs who you can leave your home to, what you can leave to and to whom. And so, that may be another reason why a portion of the will would be invalid. Another one, which we don’t see very often is whenever you have a device against public policy, an example of that says, well, I leave, $10,000 to my daughter provided that she does not get married. And so that would be a, the buys would still be valid, because that would be a provision against public policy. So if you have any questions, give me a call its (727) 847-2288.
Does A Durable POA Enable The Sale A Home Without The Owner’s Consent?
Video Summary
Does a durable power of attorney enable the sale of a home without the owner’s consent? The answer is yes, a power of attorney appoints an agent to act in behalf of someone. So that person is supposed to act in behalf of in this case, an owner for their benefit. And so they’re authorized by the power of attorney to sign the documents, which are authorized in the power of attorney. They’re usually very thorough if they’re prepared and they’re prepared and would authorize the person and they’re now called agents rather than attorney in fact, to sign in behalf of the owner and the owner has consented by executing the power of attorney and putting their trust in the agent attorney. In fact, you any questions about a power of attorney give me a call (727) 847-2288.
- Published in Real Estate – Selling, Videos, Wills
What Makes Will Invalid?
Video Summary
What makes a will invalid? The primary reason why a will may not be valid is because it has not been executed in the presence of two different witnesses and in the presence of the person making the will. That person’s called a test dater and all three persons have to be present and sign in the presence of each other for the will to be valid. There are other reasons that a will, can be invalid as if the person does lacks the mental capacity to make a will. And that’s a very low threshold and that they only need to know who their relatives are and what kind of assets which they own in order to be able to make out a will. The third way to that a will, may be invalid is if it was procured by undue influence. In other words, someone made them or influenced them to make a, will naming them, usually the influencer as the beneficiary of the will. So those are the three primary reasons for why a will would be invalid. If you have any questions about that, you can give me a call at (727) 847-2288.
- Published in Estate Planning, Probate, Videos, Wills