Florida is considered one of the best business climates in the U.S. for several reasons. The most important reason for many is the fact that the Sunshine State does not impose corporate income tax on limited partnerships or subchapter corporations. Another reason is the ease with which a Florida business can be formed. The Division… Read more »
A person who creates a Will is known as a “Testator”. There is a great deal of misunderstanding about what a Will is, and what it is used for. A Will serves two (2) general purposes. The first purpose is to name a Personal Representative. This is the person who will be responsible for managing… Read more »
A Personal Representative (sometimes commonly referred to as “executor”) is a person or entity responsible for administering a Decedent’s estate. Trust companies and other corporations and associations may also, under certain circumstances, serve as personal representative. Fla. Stat. ยง 733.305. Under some circumstances, even a creditor of the Decedent can serve. The basic duties of… Read more »
Generally speaking, there are three (3) methods for passing your home to your heirs. One method is a “Transfer-on-Death Deed” (sometimes commonly referred to as a “Lady Bird Deed” or an “Enhanced Life Estate Deed”). Using this deed, you can designate beneficiaries (commonly referred to as “remaindermen” in this context). The Deed gets recorded in… Read more »
As parents, we are accustomed to doing everything for our children; we have the obligation and the legal authority to do so. This includes making medical decisions, speaking to insurance companies, teachers, etc. But what many of us do not realize is that we lose all of those rights when our children turn 18. Not… Read more »
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