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April 2016 Archives

What we can learn from Prince's lack of estate planning

In a post back in January, our blog discussed how the late David Bowie was something of an anomaly in the music business given the degree of care he demonstrated building -- and most likely protecting -- his $200 million-plus fortune. Specifically, we discussed how experts theorized that it was highly likely that the shrewd Bowie utilized some form or irrevocable or revocable trusts to pass on his assets in a bid to maximize tax savings and keep his affairs private.

Estate planning offers several benefits

Talking about the possibility of dying is typically not one of a person's favorite activities to do. For this reason, estate planning is often ignored in Florida and other states. However, estate planning has proved to be beneficial in a wide range of circumstances.

What exactly can your heirs do with all of your unwanted stuff? - III

In today's post, we'll conclude our ongoing discussion of the steps that loved ones should consider taking when a family member passes away and leaves behind a significant amount of "stuff" that wasn't otherwise accounted for in an estate planning mechanism like a revocable living trust or simple will.

What exactly can your heirs do with all of your unwanted stuff? - II

In our previous post, we discussed how even though people take care to earmark certain belongings for friends and family members via estate planning mechanisms like simple wills or revocable living trusts, there's still a good chance that a fair amount of their "stuff" will be left where it's sitting after their passing.

What exactly can your heirs do with all of your unwanted stuff?

As much as we try to fight it or even deny it, the fact remains that the majority of us have accumulated significant belongings -- i.e., "stuff" -- over the course of our lives. Indeed, while we do our best to keep the amount of clutter under control, more often than not, it simply ends up getting packed away or even left where it's sitting.

What should I know about being named a personal representative?

Whether it comes as a surprise or not, being named the personal representative of the estate of a recently deceased friend or family member can be a somewhat unnerving prospect. Indeed, a person may find themselves thrust into a scenario where the terms, procedures and forums are entirely foreign.

What Our Clients Are Saying

  • I have known and worked with Austin Frye and his team since 2008. In that time he has helped serve both my business and personal legal planning needs. From guidance on reviewing and keeping shareholder and state documentation up to date... - Robert
  • It is difficult enough to cope with the emotional challenges of closing a parent's estate, and when you are also faced with the issue of your parents having insufficient documentation, and being remote from your siblings… - Zara L.
  • Austin Frye provided legal services to my father while alive and to his estate after his death; when showing the EP docs his firm prepared to other professionals (lawyers, financial advisors, accountants)… - Mark S
  • I've been a client of Austin Frye's for over 10 years. In that time, he's handled my estate/trust planning and asset protection as well as complicated business deals. - Leslie
  • Mr. Frye recently set up a complicated special needs trust for my son and, as usual, did a great job explaining it and in putting our minds at ease about our son's future well-being. - Dr. Howard
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