When you begin estate planning, you may hear terms or phrases that sound much alike. You may assume similar-sounding terms are alternate ways of saying the same thing, but there are usually critical differences to understand. For example, some believe the phrase,...
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Month: September 2023
4 types of trustees to know when creating a trust
In the intricate world of estate planning, trusts are invaluable tools for individuals and families to safeguard their assets and distribute them in a structured manner. However, the success of any trust hinges on the careful selection of trustees, individuals or...
What is the difference between estate and trust administration?
In financial planning and asset management, the terms estate and trust are frequently used interchangeably. However, they represent distinct legal entities with unique purposes and functions. To fully grasp the nuances of trust and estate administration, it’s crucial...
Do children have a legal right to an inheritance when their parents die?
If there is one issue that contributes to probate litigation more than others, it might be a sense of entitlement. Individuals ranging from close friends and romantic partners to children sometimes have a profound sense of entitlement regarding a loved one’s assets...
Do Florida estates need to reserve funds for estate taxes?
When someone dies, whatever property they solely own becomes their estate. Their vehicle, their house, their furniture and their other assets may all contribute to the total value of their estate. Those assets will generally need to pass through probate court before...
When do you need to modify your estate plan?
It can take a lot of courage to get your initial estate plan together, as it requires you to consider your own mortality and what your loved ones’ lives will look like when you’re gone. But even though you breathed a sigh of relief when that plan was first put...