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Category Archives: Trust Administration

Automobiles and Tangible Personal Property

In Florida, up to two motor vehicles that are held in the decedent’s name and are regularly used as the decedent’s (or his immediate family’s) vehicle are generally exempt from the claims of creditors and can therefore be re-titled to immediate family members outside of a probate process. A surviving spouse can, for example inherit […]

Florida Homestead Issues

What happens to the residence is one of the most anxiety-inducing questions that most surviving spouses endure. When there is no surviving spouse, the home is nevertheless one of the major assets of the estate, and may have a great deal of emotion wrapped up in it. To make matters even more interesting, Florida’s homestead […]

Acting as Administrative Trustee

The original grantor (creator) of a revocable trust will usually serve as the trustee of the trust until their disability or death. Upon the grantor’s death, an “administrative trustee” serves to perform all of the necessary functions.  This office may also be referred to as a “successor trustee.” Just because you are named as the […]

Acting as the Personal Representative

In Florida, we call the administrator of the will the personal representative. Other states refer to this office as the executor. It’s much the same thing. Just because you are named as the personal representative in your loved one’s will does not necessarily mean that you must serve. Before acting in this capacity, understand that […]

When You Don’t Avoid Probate with a Trust

When You Don’t Avoid Probate with a Trust

A couple of years ago, a very nice couple visited with me in my office. They had moved from Wisconsin, where their attorney was also licensed in Florida and had just completed a revision of their revocable trusts and related pour-over will, durable powers of attorney, health care surrogates and living wills. They wanted me […]

What to Bring to the Attorney when a Loved One Passes

What to Bring to the Attorney when a Loved One Passes

It’s always a difficult time when you lose a loved one. Usually, one of the first places one visits will be the lawyer’s office that drew the will or trust. The will or trust isn’t usually read to a gathering of family “Hollywood style.” Rather, the lawyer discusses the administrative steps that the personal representative […]

Estate Administration and Short Term Markets

Estate Administration and Short Term Markets

Several years ago, I took on an estate-planning client, “Kevin,” who had worked at the Eastman Kodak Company for his entire adult life. He had earned stock bonuses in the company over the years, so that by his retirement a significant portion of his net worth consisted of Kodak stock. Kevin asked me to draft […]

The Pain of Loss

The Pain of Loss

One never knows whether something written in social media was fabricated or is actually attributed to the correct party. Nevertheless, I came across this post in Facebook about the loss of loved ones that I thought was both insightful and poignant: “Alright, here goes. I’m old. What that means is that I’ve survived (so far) […]

Reasonably Ascertainable Creditors

Reasonably Ascertainable Creditors

When a loved one dies, whomever you name as the personal representative (executor) under the will or the trustee under a trust will be charged with the responsibility of ensuring that your estate or trust satisfies any outstanding creditors upon your death. Creditors might appear in the form of credit cards, hospital or medical bills, […]