For many estate owners in Florida, the most important part of a will is naming who they want to inherit their assets. However, there are several types of assets that are not transferred using a will.For example, a person purchases a life insurance policy explicitly...
Month: May 2019
Tom Petty’s heirs file lawsuits over estate
Some Florida fans of the late musician Tom Petty may have heard that his family is in a dispute over his estate. In Petty's will, he created an LLC, Petty Unlimited. He also set up a trust and made his widow the directing trustee. She was supposed to fund the LLC with...
Right and wrong ways to avoid probate
We at the Law Offices of Frye & Vazquez understand why it is desirable to avoid probate if possible. The probate process in Florida can be complicated, expensive and much more public than most families would prefer. There are a number of available options to help...
Commonly overlooked estate planning matters
Estate planning in Florida is a personal process. The specifics of an estate plan will vary based on the creator's situation. While there are a few things most people can count on needing (such as a will), there are also a few things nearly everyone should avoid....
What responsibilities does a guardian of an adult have?
In Florida, the court may appoint a guardian for an adult who has a mental disability or becomes incapacitated due to age-related dementia, a head injury or a number of other possible causes. If you become the guardian of a disabled or incapacitated adult, your...
Common misconceptions about estate planning
Some Florida residents may delay estate planning because they do not want to think about death. Others may do so because they think they have too few assets to make a will worthwhile. However, even people whose only holdings are a small bank account and a home...
Choosing the best trustee to manage a trust
Florida residents should proceed with caution when it comes to naming an estate trustee. Many people naturally assume that a close relative would make a good trustee because of their familiarity with the estate owner. However, this might not always be a good idea,...
Possible drawbacks of a DIY estate plan
Some people in Florida may be among the 40 percent of American adults who, according to the AARP, lack a living trust or a will. People may avoid estate planning because they find it costly or time-consuming or because they are uncomfortable discussing estate planning...
How does guardianship differ from adoption?
From time to time, parents in Florida are no longer able to care for their biological children. This can occur if you and/or the child's other parent become incapacitated or die. It can also occur if a court issues a decision against you declaring you to be unfit. In...
How does the new tax law affect estate planning?
As of January 2019, the federal Tax Cuts and Jobs Act officially became law and introduced sweeping changes affecting taxpayers in Florida. Provisions of the law can affect your existing estate plan in many different ways, so much so that it may be necessary to update...
