In Florida, choosing a personal representative (commonly called “executor”) to be in charge of your estate is a very personal decision. While you might think you have the final word in your will, there are certain criteria each personal representative must meet in order to be appointed. Your decision is secondary to the Florida Statutes. […]
Category: Revocable and Irrevocable Trusts
Florida law recognizes several types of trusts to serve several purposes. There are revocable, irrevocable and even trusts in equity (that is, out of fairness) that may not be written trusts.
Florida Wills : Requirements That May Impact You & Your Family
A Last Will and Testament is the document that is used to specify what will happen to your property after you die. A will is valuable to reduce confusion, stress, and conflict among surviving family members to whom property may be gifted or given upon your passing. Ideally it should clearly states your wishes for […]
A To-Do List for Estate Planning in St Johns County, Florida
At the Preddy Law Firm, P.A. our goal is to help families in St. Johns County, Florida and the Jacksonville area avoid frustration and fear when it comes to estate planning. By being proactive instead of reactive, a family can save time, anxiety, and money in the case of a loved one’s death. Estate planning […]
New to Florida? Are Your Estate Plan Documents Still Good?
Many people move to Florida. Some move here for the sunshine, warm weather, and the beaches. Others come for new opportunities. We welcome all of you. Many who relocate to Florida are concerned that estate plan documents they had prepared in another state may not be valid in Florida. These documents could include last wills, […]
Second Marriages and Trust Litigation
In the case of a second marriage, the parent of adult children usually want their children to maintain a relationship with the new spouse. Perhaps the second marriage began when the children were still minors or it may be after they have grown. The biggest misconception of a parent is to prepare estate planning documents […]
Durable Power of Attorney Increasingly Important for Aging Parents
As we see the aging of our parents, we are grateful for so many advances in caring for the physical wellbeing of them. Certain cancers, heart disease and broken bones are no longer a death sentence to the aging parent. However, with longer life comes deterioration of the mind, a mental decline that medicine has […]
Probate Is Not Always Required After the Death of a Loved One
Many have heard of the term “probate” as a court process required after someone dies. Probate may be necessary to identify and gather the assets of a decedent, pay the decedent’s debts, and distribute the decedent’s assets to the beneficiaries or heirs. However, it is not always required. If the property you own is held […]