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In estate and contract law, a “beneficiary” is simply someone who has the legal right to receive the benefits of an instrument or contract.  A beneficiary of a will, for example, has the right to receive distributions of estate assets through the will.  Or a trust’s beneficiary is someone who receives disbursements of trust assets […] Read more

Spousal Elective Share Florida

Today’s topic has caused many a successor trustee in Florida some serious concerns and loss of  sleep during the Florida trust administration process.  Most people aren’t aware of the concept of a “spousal elective share in Florida” and how these important spousal rights in Florida could derail your estate plan. The elective share concept applies […] Read more

Florida LLC for Estate Planning

Common Advantages to Using LLCs in Florida and Elsewhere With their exceptional flexibility, limited liability companies (LLCs) are a favorite structure of business owners in Florida and throughout the country.  A Florida LLC (like LLCs in most other states) can combine the efficiency and simplicity of sole proprietorships and partnerships with the robust legal protections […] Read more

Florida Living Trust Benefits

Most of our clients and friends who are Florida residents know that a Florida revocable living trust is a useful family document and can be important for avoiding probate in Florida. However, while a Florida revocable trust is an ideal option for avoiding probate, there are many additional benefits that may be extremely useful for your […] Read more

Although some individual trusts can be highly complicated, the fundamental concept is fairly straight-forward.  After creating and signing a “declaration of trust” or “trust agreement” setting forth the terms under which the trust will operate, the person establishing the trust (the “grantor,” or “settlor”) formally transfers assets into the trust.  Once transferred, the “trustee” appointed […] Read more

Florida Estate Planning Legal Fees

It’s a common misconception, likely attributable to television dramas, that all lawyers have large conference rooms and rake in money hand over fist.  Most misconceptions about lawyers’ rates come from a lack of understanding of the various structures and billing methods particular to the legal field.  In this post, because we are Florida estate planners, […] Read more

Power of Attorney Image

We tend to think of the word “attorney” as a synonym for “lawyer.”  And, for the most part, that’s usually the case.  Technically speaking, though, an “attorney” is an individual empowered to act on behalf of someone else, and it doesn’t always have to refer to a lawyer.  An “attorney in fact,” for instance, is […] Read more

Probate in Florida

The most famous of all the estate planning documents for Floridians (and in other states) is the Florida last will and testament.  This simple document concerns a deceased loved one’s last wishes.  It involves a life legacy for many and can pass a fortune. For all these reasons, and more, this simple document generates a […] Read more

Florida Medicaid Asset Test

It’s undeniable:  long-term care is expensive.  And the costs just keep rising.  In 2019, nursing home rates in Florida of $6,000 or more per month are not uncommon.  When you consider that around 75 percent of seniors will need long-term care in Florida at some point, paying for it becomes a major concern in most […] Read more

Florida Asset Protection

Asset protection is about protecting the “stuff” that you have worked so hard to accumulate. It sounds simple and yet the idea of protecting your stuff may mean very different things to different people. This article will attempt to simply this concept by first defining what asset protection is as a critical part of a […] Read more