Why is Probate Required? | Probate Attorney Tampa. Probate is required in order to settle the details of the deceased person’s estate. It is also required to clearly settle all a deceased individual’s financial concerns after death.
When No Assets are Available to Distribute - Probate. When someone that dies has a small amount of property, there is a method for the individual who paid the fees for the decedent’s burial or final bills to have their money returned to them from the resources that are available.
What is the Purpose of a Will? | Wills and Trusts Attorney Tampa. Technically referred to as a Last Will and Testament, a will, as it is commonly called, is a legal document prepared to designate and protect beneficiaries, assets, and personal items in the event of a person’s death.
What is Formal Administration? If the situation is not satisfied through the above stated two methods, then it is likely that a Formal Administration will be necessary.
What is a Will? | Estate Planning Attorney Tampa. A Will is a document that outlines terms for the allocation of property or assets when a person dies.
Things to remember when it comes to Estate Planning. Everyone should have some type of Estate Planning in place as they advance through life. However, here are some other circumstances to consider when it comes to Estate Planning:
The Estate Planning Procedure. The Estate Planning procedure in Florida encompasses numerous methods to manage property and the eventual distribution of assets.
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Summary Administration. This method is commenced by filing a Petition for Summary Administration. This paperwork details the assets of the deceased individual.
Living Trusts and Tax Liabilities. Are Florida Living Trusts Successful at Decreasing Estate Tax Liabilities? That depends entirely upon the trust you create, as they can be quite flexible.
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