What is the Statute of Limitations on an Estate Plan? Commonly Asked Questions

Understanding how estate planning plays a role in your life is not always easy to do, especially when you consider issues such as the statute of limitations. Many people are familiar with the idea of a statute of limitations in that it imposes a kind of timeline on people and requires them to act before it’s too late. But how does the statute of limitations affect estate planning? To help explain these concepts, let’s take a look at some commonly asked questions. What is a statute of limitations? You can think of a statute of limitations as a game clock. Like a basketball or football game, there’s only a limited amount of time in which the players have two play. Once the clock reaches zero, the game is over. Similarly, a statute of limitations is kind of like a legal game clock. It places a time limit on how long people have to file a lawsuit. Statute of limitations state how long that time is. For example, let’s say you suffer a personal injury. In Florida, depending on the n


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