August 15, 2012
…A trust is a contract that specifies the terms in which a party is to control property or assets for the benefit of others, known as beneficiaries. The party or person in charge of the trust is known as the trustee. There are a variety of reasons and benefits to create trusts in Florida and elsewhere.
August 9, 2012
…When a person becomes incapacitated, he or she is not able to make financial and other important decisions for himself or herself. At this point it is sometimes necessary to appoint an individual who can be legally in charge of making these types of decisions for the person. In Florida, this agreement is known as guardianship, and it becomes the legal responsibility of the guardian to act in the best interest of the incapacitated person.
August 1, 2012
…When a person dies and the decedent’s assets are transferred to another party, those assets are subject to taxation. The estate tax has been under scrutiny by lawmakers for the past several years. Some politicians want to continue the tax breaks started during the Bush administration; however, the Obama administration is proposing to end the Bush-era cuts on the estate tax, which could affect many in Florida.
July 26, 2012
…When a person becomes unable to make decisions for himself or herself, the court may step in and deem the individual incompetent. The next step is to assess the individual’s circumstances and to appoint a conservator for his or her benefit, when necessary. A conservatorship in Florida and elsewhere is meant to ensure the safety and well-being of someone who needs another party to look out for their own best interests.
July 18, 2012
…When a loved one is deemed incompetent or unable to make decisions on their own behalf, it is important for family members to make arrangements to protect their legal right to care for their loved one should the state or another party wish to intervene. Without ensuring legal guardianship in Florida, in some cases, another entity could step in to take control.
July 11, 2012
Estate planning is always a responsible and sensible strategy. Having the details of your estate clearly defined and documented can save your heirs not only countless hours of work, it also helps your loved ones understand your intentions and carry them out with as little acrimony and emotional distress as possible.
July 5, 2012
…In the midst of authorities searching for a wealthy Florida philanthropist who went missing after a boating trip last month, the man’s mother filed for a petition in court to be named the sole conservator over his estate. Since the first few days after his disappearance the philanthropist’s mother and wife have been battling each other in court over conservatorship of his estate.
June 29, 2012
…Everyone is subject to life’s hardships, but having a solid plan in place to manage those hardships can make things a lot simpler — for the regular Joe and the famed alike. Still, a plan can lead to questions. Britney Spears’ father has had conservatorship of her personal and professional life for approximately four-and-half years.
June 20, 2012
…The elderly are particularly vulnerable to being exploited by their caretakers. This is why the Palm Beach County Clerk and Comptroller started the county’s guardianship fraud hotline last October. The hotline has since received 57 calls, which have led to 13 investigations into possible fraudulent activity. The police have taken control of 12 of these cases.
June 13, 2012
For those whose occupation requires them to travel, obtaining guardianship of an elderly parent may become a difficult legal battle. Many times the local court, including those in Florida, will deny a guardianship request if the person requesting it is constantly traveling or out of town due to work or other reasons.