Category Archives: trusts
Implied Trusts Under Florida Law
Most people who may recognize a trust as an estate planning tool that can help then provide for their beneficiaries after their death. However, not all trusts are used in this way, and one such trust is a constructive trust. A constructive trust is not actually a trust under the general definition of a… Read More »
Determine If A Bypass Trust Is Best For You
Although the state of Florida does not tax a person’s estate upon his death, an estate is still subject to federal estate taxes. In order to avoid paying an excessive amount in estate taxes, essentially reducing what is available to be passed on to heirs, people may use various methods of estate planning and… Read More »
Modifications To The Terms Of An Irrevocable Trust
Irrevocable trusts are usually intended to last for a long period of time and to provide for the needs of the beneficiaries according to the trust settlor’s wishes. Because the trust is irrevocable, there are rarely any changes made to the terms of the trust unless they were specified within the trust documents. However,… Read More »
Ademption And Failed Bequests In Florida Wills
Not every person who makes a will remembers to update it following significant changes that could affect the nature of gifts that were bequeathed in the will. Unfortunately, failing to update a will could result in a beneficiary losing out on an inheritance. Generally, a testator may make a general bequest to a beneficiary… Read More »
Trustee Duties When Administering A Trust
After you have decided to take the step to form a trust as part of your estate plan, you will be faced with the question of who to designate as the trustee. The trustee will be responsible for administering the trust, and making payments or distributions to your beneficiaries after you pass away. This… Read More »
Pet Trusts
For some people their pets are part of their family, and in fact, are more like family than some human family members. It is therefore not surprising that some pet owners desire to leave their property to their pets in their wills to ensure the pets are taken care of when the pet owner… Read More »
Naming A Trust As A Beneficiary Of A Life Insurance Policy
For some people, life insurance policies represent the most significant asset that they will leave to their beneficiaries after the insured person dies. Even though the policy owner does not technically own the policy amount as his own property, he can control who is named as a beneficiary, and how the life insurance money… Read More »
Passing On Your Retirement Accounts After Your Death
Retirement income can sometimes be forgotten when it comes to estate planning. Employer retirement plans and IRAs can often be a large portion of a person’s assets after he dies. Retirement accounts are handled differently than other assets, and there are rules governing what a beneficiary of a retirement account can do upon receiving… Read More »
Transferring Title To Trust Property
Once a person decides to make a trust as part of his estate plan, he has to fund the trust by transferring title to property from himself to the trust. The transfer of title has different consequences for the person depending on the kind of trust that is formed, and in some cases the… Read More »
Leaving Gifts In Wills And Trusts With Conditions Attached
In setting up a trust or writing a will, a settlor or testator has the choice of deciding which people are named as beneficiaries. In some cases, the testator may decide to name beneficiaries to receive payments from a trust or assets under a will only if the beneficiaries meet certain conditions. While some… Read More »
