Boyes, Farina & Matwiczyk

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Tagged: probate

Advanced Estate Planning For Florida Property

…Many people move to Florida to retire. As a result, Florida has become a national hotbed for probate and estate planning. Several Florida property owners seek to structure their estate plans in order to allow assets to pass more easily to beneficiaries with the advice of area law firms.

Some professionals suggest first creating a living trust and then transferring title of real estate from an individual to the estate.

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Taking The Right Approach To Inheritance

…Estate planning is something that many families avoid, sometimes until it is too late. Others believe they have done enough, but minor details end up being a great hassle to heirs unexpectedly. It is a good idea for Florida residents to follow some simple guidelines to ensure that their estate is handled the way they expect it to be after their death.

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Guidance On Preparing An Estate In Florida

…Florida residents who are planning to leave an estate must follow the state’s guidelines on probate planning and estate planning so that their beneficiaries do not have to endure an estate dispute. Probate is a legal process in which the courts identify the decedent’s assets, pay the cost of the probate action, pay off his or her debts and distribute any remaining assets to his or her designated beneficiaries.

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Administering An Estate In Florida

…When an individual passes on, that person’s assets need to be collected and distributed. Additionally, any debts that the estate leaves behind need to be settled through estate administration. In most cases, the administrator of an estate follows the law of the state where the person died. However, it may be necessary to go through an ancillary probate process if property is owned in another state.

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Sharing Estate Planning Goals With Family Essential In Florida

…Taking care of one’s family is usually a person’s top priority in life. This could mean financially supporting a family member even after that person’s death. Estate planning provides the means for people in Florida to accomplish this goal. Having an estate planning goal in place can ensure that one’s intended heirs will receive their assets.

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Many In Florida Still Have Not Started Estate Planning

…Creating an estate plan is an important thing to do for just about any person. This includes people of all income levels and age brackets in Florida or in any other state. However, approximately 51 percent of Americans between the ages of 55 and 64 have not completed the first step in estate planning, which is drafting a will.

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Estate Planning Should Also Include Post-Mortem Planning

…Planning an estate is important for anybody, no matter what age or how wealthy. Estate planning provides direction for heirs on how to administer one’s estate after a person dies in Florida or in any other state. This will help heirs avoid having to go through a lengthy probate process. However, even with an estate plan in place, after one dies, there are still several tasks that must be completed.

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Paul Walker Started Estate Planning Early

…Many individuals likely remember the Fast & Furious movie series and their high-speed chase scenes. This is why many people in Florida were shocked when they heard about how the star of the movie series, Paul Walker, died. The movie star apparently died in a car crash where his vehicle was traveling more than 100 mph.

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Estate Planning Can Provide Security And Certainty In Florida

…There is nothing better than having peace of mind. In a tumultuous world full of unexpected surprises, it is no wonder that people in Florida are constantly searching for a sense of security and certainty. A fatal incident can occur at anytime and can come unexpectedly. Fortunately, estate planning can help people gain a sense of certainty by ensuring their assets will be given to their intended heirs after their death.

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Many Forget To Update Beneficiaries In Estate Planning In Florida

…Those who have actually created an estate plan are moving in the right direction as far as protecting their assets for their heirs. However, just because a person has a plan in place does not mean that he or she no longer has to worry about estate planning. Since the circumstances of people’s lives are constantly changing, it is important that Florida residents update their estate plans accordingly.

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