Trusts

Your Child and Their Inheritance: How to Share the Financials

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Most children are left in the dark regarding detailed information about their parents’ financials. Well-off parents may not want to tell their children for fear of them becoming dependent. Parents who struggle financially may not tell their children as a means to keep them from worrying. Both approaches are understandable, but in failing to speak to children about the family wealth, children may be unprepared for what will happen after their parents are gone.

As a group, baby boomers are heartened ...

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Top 10 Blunders in Probate & Trust Administration

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Probate and trust administration isn’t for wimps. It also isn’t for people who aren’t ready to shoulder the burdens associated with being named as a fiduciary. A fiduciary is the person who gets the laborious task of holding assets in trust for a beneficiary. In Florida, trustees of trusts and personal representatives of estates are classified as fiduciaries.

While taking on such a role may be a labor of love for those who are named by their deceased loved ones, mistakes ...

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Poor Man’s Probate is Usually Poorly Planned

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People often ask what seems to be the usual recurring question, “Do I really need a will?” After I ask a few questions about their circumstances, I usually discover that they have already done something about their estate plan. Unfortunately, this generally means that a non-attorney gave them legal advice and misleading direction. They’ve engaged in a course of action in which some call a “Poor Man’s Probate”. The results, which they will probably never witness, are usually tragic and ...

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It (Still) Takes a Village for Special Needs Children

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Back in 1996 Hillary Rodham Clinton’s book, “It Takes a Village: And Other Lessons Children Teach Us,” was published. No political figure can write anything without it stirring up partisan controversy, but this post isn’t being written for political purposes, so we’re going to set aside any conversation of her overt agenda in writing the book as well as any hidden agendas which might be imputed to her.

Suffice it to say for our purposes here that most people, when faced ...

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