Why Florida Probate Can Be Difficult
When deciding whether or not to do a Will package or a Revocable Trust package, many of my Boca Raton, Florida clients will ask why choose one over the other. Among the many benefits that a Revocable Trust has over a Will is the ability to minimize or even avoid probate. This leads to the obvious question of: Why […]
Choosing an Executor, Trustee and Guardian
Clients frequently ask me for advice on who they should name as Executor, Trustee or Guardian when creating their Last Will and Testament. First, let me explain the difference between the three roles. The Executor The Executor is the person who probates your Will, goes into your house and looks through all your things, safeguards […]
Copyrights after Death of Author
If you are a writer, artist, musician, photographer or other professional who has created a copyrightable work, you should realize that you are creating an asset that should be carefully managed after you pass away. The first thing that you should know is that if you have created a work after January 1, 1978, the copyright will generally last […]
Dangers of Specific Bequests and General Bequests
WHAT ARE SPECIFIC GIFTS AND GENERAL GIFTS? A specific bequest is a gift of a specific piece of property to a specific person. Three examples of this are: I give my real estate, located at 1 Main Street, Anytown, State, to my son, Jake Smith. I give my 500 shares of stock of XYZ Corporation […]
Choosing an Attorney to Help Probate an Estate
Did you know that if you are an executor or personal representative of an estate that you do not have to hire the attorney that drafted the Will to handle the probate of the estate? Many times, attorneys will do a simple will as a favor to a neighbor or relative. This is all fine […]
How to Avoid Estate Litigation—Communication
Sometimes there is no preventing an estate litigation. When a family member steals items from the estate, or when the Will is poorly drafting making it confusing, litigation is sure to follow. However, most good estate attorneys will tell you, one of the biggest reasons that unnecessary litigation results is due to family members not […]
Pennsylvania Intestacy Law — When a Pennsylvania Resident Dies Without a Will
If a Pennsylvania resident dies without a Will, that person is said to have died “intestate”. The Pennsylvania intestacy scheme is governed by statute (20 Pa.Cons.Stat. 2101 et. seq.). Where the money goes depends in large part who survives the decedent. Many people think that as soon as they get married that if they die, […]
Why Should I Hire an Estate Planning Attorney?
The short answer is: control. Proper estate planning is essential to controlling how much of your estate you pass on, to whom you pass it on, and when it is passed on. Back in March, I listed the Top 10 Reasons to Have a Will. However, not only should you have a Will, but in […]
Business Succession Planning: FLLC
Some of you may have seen these scary statistics: According to the U.S. Small Business Administration, 90 percent of the 21 million small businesses in the U.S. are family-owned, but less than one-third of family-run companies succeed into the second generation, while only half of that make it to the third. Most often, the lack […]