When it comes to estate planning, many Florida residents fail to properly account for the distribution of their assets. There are many cases where people do not have the opportunity to construct a will before passing. In other instances, the validity of a will is challenged because it was not created within the bounds of Florida State laws. That is why it is important for those considering their estate planning options, as well as potential beneficiaries, to understand how holographic wills are regarded under Florida guidelines.
Given that there are a large number of estate planning services to choose from, it is important that you have a clear understanding of the different processes that are available and how they function. For instance, you may be considering establishing a trust fund of some sort, but may be confused about the two types that are offered. Provided below is a brief introduction to testamentary and inter vivos trusts, as well as an explanation of their similarities and differences.
Exploring a guardianship is especially important if you have loved ones who may not be able to care for themselves. In Florida, there are several groups of people whose needs and interests may need to be protected. Those include the following:
When people with significant wealth start putting together their estate plans, a topic that often arises is how to protect assets. There are several options in Florida that can shield property from entities such as creditors. At Levins & Associates, L.L.C., we are adept at putting together plans that give people the best possible protection.
Many people in Florida and around the country understand the significant advantages of putting assets into a trust. Part of that process will include appointing a trustee to oversee the wealth and property held in the trust. While some choose an individual such as a spouse or friend, others opt for a corporate trustee.