Boyes, Farina & Matwiczyk

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Tagged: probate

Void or Lapsed Devises

What To Do With Old Wills

Updating your estate plan every few years, and particularly after a big life event (such as death, divorce, having a child, etc.), is most often an estate planner’s recommendation.  That being said, people do not always follow those recommendations.  Sometimes wills which are 10 or more years old are brought in by a client seeking to open up a probate. …

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Unclaimed Property and Florida Probate

Unclaimed or abandoned property refers to financial assets which have not had contact with its owner, are unknown or lost, or have been left inactive or not generated any activity by its owner, or are otherwise somehow unclaimed or abandoned by its owner.  Some common types of unclaimed property include bank accounts (both checking and savings accounts), stocks, annuities, certificates of deposit from financial institutions, uncashed dividends, payroll checks, traveler’s checks, trust distributions, unredeemed money orders, insurance payments or refunds, life insurance policy payments, utility security deposits, and even contents of safe deposit boxes….

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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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