Category Archives: Estate Planning
5 Facts about Summary Administration in Florida
Probate can be a cumbersome process, and some estates are not large enough to require formal probate. For this reason, Florida has created something called “summary administration.” This is a streamlined form of probate that is available in some situations. Our probate attorney in The Villages takes a closer look at 5 facts you… Read More »
Checking in With Elderly Family Members this Holiday Season
The holidays are the one time of year when many people check in with their elderly relatives, such as aunts and uncles or close family friends. If parents live far away, then this might be the first time that many people see them face-to-face in an entire year. The elderly have many needs, and… Read More »
Watch for These Signs of Social Isolation
Social isolation is a risk factor for many problems that the elderly face. When isolated, seniors are more vulnerable to scams, in particular romance scams. Seniors who are isolated also can have terrible health but fail to address it in an appropriate manner. As MedicareAdvantage notes, isolated seniors have a greater risk of dementia,… Read More »
It’s Time to Review Beneficiary Designations
Many assets don’t pass through a will or the probate process. Instead, you name a beneficiary on the policy itself. This is particularly true regarding life insurance policies and retirement accounts like a 401(k) or an IRA. You might have other payable on death (POD) or transfer on death (TOD) accounts that have a… Read More »
Should You Get Paid for Taking Care of Mom or Dad?
As parents age, they increasingly need help with daily activities such as getting dressed, bathing, and cooking meals. Other seniors are virtually bedridden. Watching our parents decline is difficult. However, there are other practical concerns that loom large. Who will take care of your parents? Can you afford to hire at-home help, or does… Read More »
How to Find a Will
Writing a will is technically optional under Florida law. If a person dies without a will, then his or her estate will be distributed to heirs under Florida law. Of course, we recommend that everyone create an estate plan, which might include a will. However, according to USA Today, almost 2 out of 3… Read More »
Should You Mediate a Probate Dispute?
Most estates are probated without any controversy. However, sometimes parties disagree about certain issues. For example, a creditor might make a claim for payment that the personal representative does not believe is legitimate. Probate disputes can be lengthy and time-consuming. In Charles Dickens’ famous novel, Bleak House, a probate dispute ends up eating the… Read More »
How to Reduce Costs of Long-Term Care
Nobody wants to spend the end of their life in a nursing home, but millions of people will. And the cost is eye-popping. According to Senior Living, the average annual cost of a semi-private room in a nursing home in Florida is almost $100,000. It might be more or less depending on where you… Read More »
Put Your Intentions in Writing
Here is a common situation. An elderly person wants to provide for a grandchild or a niece or nephew and tells her children about her intentions. “When I die, make sure to give Joe $20,000 for a down payment on a home” or things to this effect. However, the elderly person dies without making… Read More »
Do You Want to Avoid Probate?
Probate is the process of validating a will and then paying off the estate’s creditors in an orderly fashion. Once creditors have been paid, the estate’s personal representative will distribute property according to the will or, if there is no will, according to Florida’s intestacy rules. Probate is overseen by the probate court, which… Read More »
