Tagged: trust planning
Morrow v. Morrow, 354 So. 2d 642 (Fla. 3d DCA Feb. 8, 2023)
April 26, 2023
The recent Third District Court of Appeal reviewed the requirements for a valid will under Fla. Stat. 732.502 and found the handwritten will which was at issue, in this case, to be valid.
In this case, both on a confession of error and based on the court’s independent review, the appellate court found that the will was handwritten, but reflected the signatures of the testator, two witnesses, and a notary along with the notary’s seal. …
Does a person’s debt go away when they die?
April 19, 2023
The short answer: No, the debt does not simply go away when someone dies owing a debt. Generally speaking, a decedent’s estate is responsible for paying any unpaid debts, and no one else is required to pay those debts. When a decedent dies, their assets pass to their estate, and if there is no money or property left, then, usually, the debt will not be paid….
Estate tax and related planning
April 3, 2023
The estate tax affects only certain estates: in 2023 it applies to estates exceeding a taxable value of $12.92 million, which is taxed at a rate of 40%. While this does not give cause for concern to many, these figures can and do change. Estate tax is often debated in politics and it frequently changes. …
All Shook Up: Lisa Marie Presley’s Trust
March 22, 2023
In January 2023, Elvis Presley’s only daughter, Lisa Marie, died. Multiple online news sources subsequently reported that Lisa Marie’s mother, Priscilla Presley, filed documents in a California court alleging that Lisa Marie’s 2016 Trust Amendment is invalid. More specifically, online news sources reported that the trust amendment contains a misspelling of Priscilla’s name, there was a failure to notify Priscilla of the trust amendment, the signature of Lisa Marie looks atypical, and there is a lack of witnesses and notarization on the document….
Modifying or Reforming an Irrevocable Trust?
February 13, 2023
The question of whether an irrevocable trust can be changed, amended, reformed or modified is one with an almost-surprising answer. Can this happen? Yes, it can.
Pursuant to Florida’s Trust Code, Chapter 736 of the Florida Statutes, an irrevocable trust can be modified if the modification or change is consistent with the intent of the grantor (i.e., the creator of the trust itself). …
Florida Probate – Public Record
January 25, 2023
A question often asked by potential clients is whether a probate case or probate court records can be somehow shielded from being publicly found in court records. The short answer to this question is no.
A probate court record consists of the court-filed documents, which includes, among other things, a copy of the will, the petition for administration (seeking to admit that will to probate), the order which appoints the personal representative (Florida’s term for “executor”) and the Letters of Administration providing that personal representative to act on behalf of the estate, the probate inventory, and the estate’s accounting….
Ancillary Probate
December 6, 2022
Ancillary probate administration matters are secondary to domiciliary probate. Ancillary probate comes into play when a non-Florida resident dies owning real estate or other tangible property in another state, but owned property also in Florida. Chapter 734 of the Florida Statutes is the ancillary probate section of Florida’s Probate Code.
Tortious Interference with an Expectancy
December 6, 2022
Tortious interference claims occur when one commits tortious conduct in an attempt to deprive or interfere with the inheritance of another, such as by way of fraud or duress, which interferes with the inheritance or gift going to whom the decedent had intended.
In such an instance, if the third party was successful in not allowing that inheritance or gift go through, a claim for tortious interference with an expectancy may be sought….
Void or Lapsed Devises
November 23, 2022
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. …
No Will? Who is to be the Personal Representative?
October 26, 2022
In an intestate estate – i.e., an estate in which the Decedent died without having a will – the state of Florida’s Probate Code statutes dictate how the Decedent’s assets will be distributed.
Assuming the Decedent was married, the surviving spouse typically is the one appointed as the personal representative. …