In Florida estate and trust administration, it is not uncommon for the trustee to also be a beneficiary of the same trust. At first blush, this can seem like no big deal or even logical. After all, trustees are typically family members, and in many cases, those family members are […]
Category: Estate Planning
In Florida, when a loved one dies, the person they name as their personal representative to administer their estate assumes a position of trust, authority, and responsibility. And for most of those individuals, it is a role they take very seriously and do their best to honor the decedent’s wishes […]
Florida is marketed to out-of-state residents as a tax-friendly paradise. The Sunshine State has no state income tax and no state estate or inheritance tax. In fact, Florida’s exclusion from federal estate tax is part of the Uniform Relief from Death Tax Act. But even if a state did not have […]
Why “Do-It-Yourself” Asset Transfers Backfire: How Courts Unwind Questionable Conveyances in Florida
Most people who try to DIY asset protection generally have the best intentions. They typically make a gift, transfer a house, or add a family member to a bank account because they think it will protect the property from probate and creditors or, at the very least, simplify things for […]