Estate
Does Creating a Trust Automatically Avoid Probate in Florida? 5 Probate Myths (Part 4)
One of the most common misconceptions about estate planning is that simply signing a trust automatically keeps your estate out of probate. While trusts can be excellent tools for avoiding probate, creating one is only the first step. No, simply creating a trust does not automatically avoid probate in Florida. For a trust to accomplish… read more
Read MoreIs Probate Always Expensive and Does It Really Take Years in Florida? 5 Probate Myths (Part 3)
One of the biggest misconceptions surrounding Florida probate is that every estate will cost tens of thousands of dollars in legal fees and remain tied up in court for years. Probate can be expensive, and probate can take a long time, but that is not the reality in the vast majority of cases. Most Florida… read more
Read MoreAre Life Insurance Proceeds Assets in Probate?
Key Takeaway: In most cases, life insurance proceeds are not probate assets. They are paid directly to beneficiaries by contract, bypassing the court entirely. However, specific mistakes can drag these funds back into a lengthy probate process. When Life Insurance Bypasses Probate Unless payable to your estate, death benefits are not considered “estate assets.” Because… read more
Read MoreWhy is a Mortgage Not a Debt That the Estate Must Pay?
“How come I still have to pay the mortgage on my parent’s house, that I inherited in probate, when the Last Will states that all debts of the estate are to be paid?” That is a question we get sometimes – and it’s a great question. Why is the mortgage not a debt that the… read more
Read MoreOpening The Estate Account Takes Patience
By: Statewide Probate www.statewideprobate.com A client recently wrote, “….Just opened the estate account. Merciful heavens, childbirth was easier. Such a lengthy detailed process that took over an hour.” Yes, depending on the bank or credit union, and the particular branch, and the experience of the employee opening the account, it can take a while for… read more
Read MoreMove Cars Out of Estate Quickly
We do not like cars or trucks in an estate. Under Florida law, the owner of a vehicle is normally liable for accidents caused by the car, and that liability is not limited to the car insurance limits. So an estate with $200,000 in stocks and bonds can see all of that disappear in the… read more
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