What Happens When You Inherit a House with a Mortgage?
When a loved one passes away, often the most valuable asset in their estate is their home. This property can pass to their heirs or Will beneficiaries, but inheritance may come with strings attached in the form of a mortgage or home equity loan. Find out what happens when inheriting a house with a mortgage […]
Including Cryptocurrency in Your Estate Plan
If a loved one has died in Florida, or owned real property in the state at the time of their death, you will likely need to head to the Florida probate court to resolve their affairs. However, knowing which probate process to use could save your family time, court fees, and frustration. Florida probate law […]
The Escheatment Process In Florida
While few people know the word escheatment, many Florida residents worry about losing property to the state after they die. You don’t have to have a high-value estate to lose property and assets to the Florida escheat process. Instead, what matters is whether you have a valid Will or have surviving family when you die. […]
Determining the Value of Your Estate
An important part of every personal representative’s job in administering a deceased person’s estate is determining the value of that estate. Putting dollar amounts on everything from heirlooms to land can be difficult, but there are professionals that can help complete the asset valuation accurately and on time to get your loved one’s probate estate […]
What Is A Pretermitted Spouse?
More Florida residents are having second marriages, multiple divorces, and getting married later in life. This trend carries with it the chance that these residents’ wills may be contested by a pretermitted spouse. But who is that? And what rights does a surviving spouse have to a deceased person’s property when they are left out […]
Tips to Create A Florida Will that Cannot be Contested
You may have strong feelings about the way you want your affairs handled after your death. You may believe (rightfully) that an heir will not handle their inheritance well, or that a spouse or family member should not receive a share of your assets. In these cases, having a Will is not enough. You need […]
When Probate is Required in Florida
When Probate is Required in Florida What is Probate Court? The Florida probate court is responsible for overseeing the management of assets and affairs for people who cannot do so themselves. Much of the probate court’s time is spent overseeing the administration of estates after people have died with or without a will. This includes: […]
Celebrity Estate Lessons Anna Nicole Smith
Celebrity Estate Lessons Anna Nicole Smith And now the ending of our accidental oil baron trilogy. Anna Nicole Smith married 89 year old J. Howard Marshall at the age of 26, a story we detailed last week. Let’s fast forward a bit to September 2006. Smith had moved to the Bahamas to give birth to […]
Admitting A Foreign Will In Florida
Admitting A Foreign Will In Florida What is a Foreign Will Under Florida Statutes? It may surprise you to learn that a Will signed in Georgia is considered a “foreign Will” under Florida statutes. The term “foreign Will” applies to any Will (or similar estate planning document) executed in another state or country. You may […]
What To Know About Residuary Beneficiaries
What To Know About Residuary Beneficiaries What Does “Residuary” Mean? In probate law, the word “residuary” essentially means “everything else.” Most estate plans, including both Wills and trusts, include awards of specific property (such as the family house, heirlooms, or pets). Anything not included in these “specific devices” falls into the residuary. The residuary can […]