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Posts tagged "Estate Administration & Probate"

What you need to know about the probate process

When a friend or loved one passes away, you may feel overwhelmed with emotion at the loss. During this hard time, it can be difficult to make important decisions regarding the deceased's estate and property. If you are the estate administrator, you are responsible for overseeing the estate as it travels through the probate process. Probate is supervised by the court and ensures the property is taken care of and is distributed to the beneficiaries intended by the deceased.

Couldn't I inform my family members of my wishes?

The thought of planning one's estate can be overwhelming for some. They might think the process is more difficult than it actually is, or they could feel uncomfortable at the thought of facing their mortality. If you are like some Floridians who are putting off writing their wills, you might wonder if you can just tell your loved ones how you want them to divide your estate after you are gone. But is this a good idea?

Unusual will types that can be easily contested

As you know, it is important to have a solid estate planning strategy in place to protect your assets and the inheritance you want to leave to your loved ones. At the Law Offices of Frye & Vazquez, P.L., we have a full understanding of the different types of wills and trusts available to Florida residents, and that some types are stronger and less easily contested than others.

Why would I need a durable power of attorney?

As you know, planning your estate and your loved ones' inheritance can be complicated in even the best of circumstances. What if you are concerned that a mental incapacity will compromise your decision-making abilities in the future? It may be wise for you and other Florida residents to consider a durable power of attorney, but what exactly is it?

How can you breach your fiduciary duty?

When you choose to accept the responsibility of becoming the trustee of a trust or the executor of a Florida estate, you become a fiduciary. What this means is that you must work for the benefit of the trust or estate in performing your duties rather in your own interests. In other words, you must follow the wishes of the trust's grantor or the estate's decedent.

What you need to know about Florida estate and inheritance taxes

At the Law Offices of Frye & Vazquez, PL, in Florida, we know how hard you work throughout your life to accumulate wealth. We also know how hard you work to protect this family wealth so that you can pass it on to your heirs. The last thing you want is for your estate to have to pay a huge estate tax and your heirs to each have to pay an inheritance tax.

Do my debts go to my children after I die?

Like many Florida residents, you have done your estate planning carefully, so your loved ones will have an inheritance to enjoy after you are gone. Also like many others, you may have a moderate to significant amount of debt. Naturally, you would not want your children to inherit your debt in addition to their inheritance. Will your family members be on the hook for your outstanding debt after your death?

Remarriages and asset protections

Whether you have been divorced or widowed, if you now find yourself happily connected with a new partner, you may well be considering getting remarried. While certainly remarriages are no longer uncommon in Florida and they can definitely be extremely happy and fulfilling, they can also come with some unique issues to address. Among these issues is proper estate planning, especially if one or both partners has children and possibly even grandchildren already.

What challenges do my parents face as they age?

When you are coming to terms with your parents' mortality, getting their estate affairs in order and protecting them from financial abuse are priorities. However, you and other Florida residents with aging parents may also be concerned about their emotional and physical well-being. For many, the challenges during the golden years can lead to depression and isolation. You and your relatives may play a vital role in helping your parents age with dignity and continue to feel useful and important to the family.

Musician at odds with former bandmate's estate

One of the main responsibilities that comes with administering an estate in Miami is answering any claims made against it. This can include action taken by creditors to try and collect debts, or it may be legal action initiated by a decedent's former associates. Upon one's death, his or her personal representative takes control of his or her affairs as he or she stipulated. Thus, any contracts or agreements one entered into while alive must be now recognized and enforced (or, in certain cases, challenged) by his or her estate. 

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  • 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.
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  • 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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