The Uniform Transfers to Minors Act allows for a parent or other adult to create a custodial account for gifts, bequests, and other transfers of assets to a minor. In addition to money, a UTMA account can hold other types of assets for the minor, including real estate, royalties, fine art, and patents. The account can be created either by an individual or by the terms of a will or trust. Although the minor owns the assets in the UTMA account, a custodian manages and controls the account until it terminates….
Your will is one of the most important documents you will ever draft. It dictates what happens to your estate when you pass away and ensures the proper heirs are given their inheritance. Some residents in Florida may think writing their will is just a “fix it and forget it,” type of document. However, there are quite a few reasons why you may need to change it.
Your marital status is a prime reason you may want to adjust your will….