Florida residents who have engaged in the estate planning process may be aware that it is more complex than merely deciding who gets the family condo or grandmother’s prized china. In fact, there may be more variables to the process than most people realize when they get started, such as estate tax planning, which is a serious aspect of estate planning that should be carefully considered to ensure that no errors are made and tax liabilities are considered correctly….
For years Palm Beach County citizens who have gone through the judicial system have been thoroughly confused due to the large array of legalese bandied about during probate court proceedings. This language, whose origin dates back generations, has long been utilized to clarify certain aspects of court proceedings by trained legal professionals. Despite the clarity for attorneys and judges, the language used has significantly diminished the typical lay person’s ability to interpret probate proceedings in an easily understood fashion, leaving some litigants at a distinct disadvantage….
If you already have a will in place, you’re ahead of the curve. In fact, most people in the U.S. find themselves ill-prepared when it comes to end-of-life planning – residents of Palm Beach County are no exception. Unfortunately, having a will is only a fraction of the documentation necessary to be fully prepared for the inevitable, no matter how far into the future it may come. Believe it or not, will planning is more involved than just drafting the will itself….
Death does not operate on a schedule. It doesn’t matter what plans we have set forth for a particular day, week or month – death usually does not make an appointment. The same is true for people in Palm Beach and all over the United States, all over the world for that matter. A recent story highlighted the events of one fateful weekend that carried bittersweet emotion, along with a reminder that one never knows what tomorrow will hold.
This reality is just another reason estate planning is so important….
When we die, we not only leave our loved ones behind, we also typically leave behind a number of assets. These may range from bank and investment accounts to family heirlooms, and many people in Florida and elsewhere often assume that their loved ones will divide these assets in a fair and reasonable manner prior to their death. Yet without a will, significant disputes may arise and costly probate litigation can be the result. Taking the time to engage in will planning, though, may be able to avert most, if not all, disputes while saving loved ones from the expense of litigation….