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Revocable trusts are just that – revocable; can be changed, modified, dissolved s long as the person who established it is living; they are excellent vehicles to be sure assets go to children as minors cannot inherit until they’re 18.
Category: Estate Planning
Planning can be tough Because of Family Relationships and Disinheriting
/RSS FeedPlanning is about taking care of your family later. Sometimes people disinherit family members, and that can be tough.
Estate Planning is Essential Now and After You Are Gone
People often think putting something in a Will makes it easily accomplished after they pass. I’ve previously used the passing of ownership of a home as an example. It also pertains to guardianship of minors.
Revocable Trusts/Living Wills vs Last Wills
/RSS FeedHow does each work? What is the purpose of each?
What do you do with your loved one’s Last Will? Choosing your representatives.
People want to honor the final wishes of the people they love. Sometimes they act without consulting an attorney about how best to do that. Before doing anything, it’s best to get some counsel.
People generally give thought to whom they appoint to help – particularly their health care surrogate. Sometimes, that designated person has their own stuff when they’re needed to help. It’s important to stay in communication to avoid feeling abandoned or that someone doesn’t care.
Estate Planning: Basic Steps to Getting Started
/RSS FeedFirst, decide it’s time. Then pull together everything you own, tangible, intangible and then decide who you want to have represent you for possibilities while you’re alive (financial, health) and for after you pass.
When is it time to plan?
/RSS FeedWhen a person gets one second after midnight on their 18th birthday – it’s time. It doesn’t matter if you think you own anything, it matters most at this point to appoint someone to help with finances and health if need be – powers of attorney and advanced health directives, and a Last Will is a good thing since we’re never promised tomorrow.
Avoiding Probate – Effectively Passing Ownership of a Home
People often have their Last Will and Testament state that “John Smith” gets their home – thinking that’s all it takes. At least in Florida, that’s WRONG without some additional steps. A “Lady Bird Deed” (also known as an Enhanced Life Estate Deed) is an option in Florida.
Debbie London Baker on Ask The Experts, August 2023
We had some fun with technical problems. This was recorded in August 2023 when Hurricane Idalia was approaching Florida. The weather caused some connect problems, but we got through it.
Topics include:
- You Never Know When Something Might Happen
- Estate Planning for Our Pets
- What does “estate” mean?
Debbie London Baker on Ask The Experts, July 2023
Topics include:
What is a Last Will and Testament?
Best Way to Provide for a Minor Child
Do it Yourself?
Living Wills