Executors have a number of duties depending on the complexity of the deceased person’s financial and family circumstances. In the most straightforward of cases, as most are, the job of executor can be broken down into three major areas; personal affairs, will and distribution, and ongoing affairs. Personal Affairs There are many connections, obligations, responsibilities, and associations we develop throughout our lives. When those days are done, however, someone needs to inform any active links to people, businesses, and organizations. It is also important that any remaining balances, overages, or other account concerns get settled. Those responsibilities, of course, fall on... View Article
Death is an unfortunate fact of life. Even though no one wants to think about their eventual passing, it’s important to consider it for estate planning purposes. Whether you own a business empire or simply a house, a car and a retirement fund, having a strategic estate plan is key. When you work with an attorney ahead of time, you can strategically plan for retirement and Medicaid, distribute your property to your desired loved ones and assign powers of attorney in the event that you’re incapacitated. It will also ensure your family and friends can avoid probate whenever possible, and... View Article
A will is a written document that indicates how property is to be distributed after you die. Living trusts provide property management throughout life and after death, which can prove handy if you become incapacitated. When you are deciding between creating a will or a living trust in Miami, FL, you will likely find appealing attributes to both. However, what’s best will depend on your situation. Here are five factors to consider when deciding which estate planning vehicle works best for you: Assets: A living trust only works if you place assets into it. If you are planning more to... View Article
Estate planning involves a lot of different relationships and documents, all carefully chosen to ensure that you and your beneficiaries receive the maximum amount of benefits with the least amount of hassle and tax liability. One of these types of legal relationships is called a trust. What exactly is a trust, and should you ask your estates and trusts attorney in Miami, FL to set one up for you? Read on to learn more. How a trust works A trust is a relationship between at least three people: first, the trustor, who wants to give property or money to a... View Article
Even when you’re young and healthy, things can happen that may incapacitate you or a loved one. If you’ve never given thought to whom you might want to be responsible for you, should you be unable to make your own medical or legal decisions, you might want to consider designating a potential guardian in your living trust. A guardian is a person who is allowed to make legal decisions on behalf of an incapacitated person, and can either be appointed by the court or designated in a living trust. Just like having a will, it’s always smart to designate a... View Article
