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October 2016 Archives

It is possible, but not easy, to remove a trustee

When creating a trust, appointing a capable and reliable trustee to manage the underlying assets is one of the most important steps in the process. However, expectations often do not reflect real-world performance on the part of a trustee. In many cases, it becomes necessary to remove a trustee. This can be a difficult process, because the court will need to see clear justification for altering the terms of the trust, and will have to be petitioned by either the creator of the trust or the beneficiaries for the there trustee's removal.

What are the benefits of estate planning?

In 1998, at the age of 62, Salvatore Phillip "Sonny" Bono passed away due to injuries sustained in a skiing accident. He did not leave behind a will, which caused lengthy legal proceedings as his wife, Mary Bono, and his four children from three marriages attempted to settle his estate and divide his remaining assets. It can sometimes take years of multiple court hearings to determine the proper line of inheritance when an individual passes away without a will in place.

Florida and holographic wills

There are many different kinds of wills and estate plans which will be honored by the courts, and each state has its own laws determining what it may or may not accept as valid. When it comes to the matter of holographic wills, the law is Florida is slightly more complex than it seems at first.

Establish guardianship before it is needed

The idea of estate planning may seem like something that the wealthy elite do, but some elements of estate planning can benefit almost anyone. Part of an estate plan can include establishing guardianship, a thing that is often not thought of until it is too late. If a legal guardian is not specified in a legally binding document prior to a person being deemed unable to care for him or herself, he or she may be subject to a court appointing a legal guardian that he or she may not have wanted.