The loss of a family member or other loved one is typically followed by a period of grief during which the last thing you likely want to focus on is the legalities of the decedent’s death. If, however, you were named as the Executor of the estate in the decedent’s Last Will and Testament, you [ ] The post Port St. Lucie Probate Attorneys Common Steps Involved in Probating an Estate appeared first on Kulas Law Group.
Although most Americans admit to knowing the importance of inheritance planning, over half do not have a plan in place. I reason for this appears to be that there are a number of myths and misconceptions about inheritance planning. To some extent this is understandable because the average person has little reason to know much [ ] The post 5 Common Myths about Inheritance Planning appeared first on Kulas Law Group.
One of the most commonly used retirement tools is a 401(k) plan. Despite how frequently these plans are used by American workers, the average person knows very little about how they actually work. True, the rules and regulations relating to 401(k) plans are hidden in the fine print when you open the account; however, if [ ] The post Most Common 401(k) Questions and Answers appeared first on Kulas Law Group.
There’s a common myth in the United States that basically assumes that a decedent’s last wishes can never be challenged as long as he or she has executed a will. For a variety of reasons, this is simply not the case, as wills get challenged on a regular basis. In Florida, it is important to [ ] The post Can Your Will Survive a Legal Challenge? appeared first on Robert J. Kulas.
When you sit down to create, or review, your estate plan you will likely have more than one estate planning goal in mind. Though the most important of those goals may be to ensure that your loved ones are well provided for when you are gone, you may have secondary goals that are also important to you. Your Last Will and Testament, while crucial to your overall plan, has its limits. To accommodate for the limits of your Will you may decide to include a living trust (or several) in your estate plan. Though a living trust can be used to help fulfill a virtually unlimited number of estate planning goals, there are some common uses for a living trust. Testamentary vs. Living Trusts Although there are a seemingly endless number of specialized trusts you may choose to use, all trusts are first divided into two basic categories – testamentary and living trusts. A testamentary trust is a trust that does not become active until the death of the Settlor, or creator, of the trust. A living trus
Florida Guardians: Common Questions and Answers from Robert Kulas In general, guardians can make decisions that affect the ward’s day-to-day life, decisions about the ward’s finances or property interests, or make both kinds of decisions. Learn more about Florida guardians in this presentation
Even though it is not something that most people consider, you might face a situation one day in which refusing inheritances or gifts could be in your best interest. The process of refusing inheritances is not overly difficult, but it is something that requires careful care and consideration. Knowing what effect accepting an inheritance or gift will have on you and your family is essential if you want to know whether refusing them is a good idea or not. If you are worried that accepting an inheritance might not be in your best interests, or have questions about why refusing inheritances would be, you need to speak to an attorney as soon as possible. In the meantime, here are some common questions about refusing inheritances. Question 1. When should I refuse an inheritance? There are a lot of potential reasons why refusing inheritances can be a good idea. One of the most common comes when people are considering filing for bankruptcy. In general, there are two types of bankruptcies that