Frequently Asked Questions
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Table of Contents
Estate planning can often seem overwhelming and confusing. To add some clarity to the process, our attorneys have compiled a list of our FAQs about estate planning in the space below. If you have further inquiries, do not hesitate to contact our office, and we will happily answer your questions.
The information provided on this website is for informational purposes only and does not constitute legal advice. As the law is always changing, this information may not reflect the most current law. This information is not intended to form an attorney-client relationship. Please consult an attorney in your jurisdiction.
Estate Planning
What is Joint Tenancy with Rights of Survivorship? (in some states “Tenancy by the Entirety” when between spouses)
This is the most common form of asset ownership between spouses. Joint tenancy (or TBE) has the advantage of avoiding probate at the death of the first spouse. However, the surviving spouse should not add the names of other relatives to their assets. Doing so may subject their assets to loss through the debts, bankruptcies, divorces and/or lawsuits of any additional joint tenants. Joint tenancy planning also may result in unnecessary death taxes on the estate of a married couple.
What is a Will?
The document a person signs to provide for the orderly disposition of assets after death. Wills do not avoid probate. Wills have no legal authority until the willmaker dies and the original will is delivered to the Probate Court. Still, everyone with minor children needs a will. It is the only way to appoint the new “parent” of an orphaned child. Special testamentary trust provisions in a will can provide for the management and distribution of assets for your heirs. Additionally, assets can be arranged and coordinated with provisions of the testamentary trusts to avoid death taxes.
Do I Need A Will?
If you die without a will, you die “intestate.” Intestate means that the Florida Statutes define who receives your property. Executing a will ensures that your property goes to the people you want to have it.
What is a Living Will?
Sometimes called an Advance Medical Directive, a living will allows you to state your wishes in advance regarding what types of medical life support measures you prefer to have, or have withheld/withdrawn if you are in a terminal condition (without reasonable hope of recovery) and cannot express your wishes yourself. Oftentimes a living will is executed along with a Durable Power of Attorney for Health care, which gives someone legal authority to make your health care decisions when you are unable to do so yourself.
What's the difference between a will and a living will?
A will takes effect after you die. A will designates, among other things, who you want to receive your property after your die.
A Living Will is a document called an “advance directive.” Its purpose is to express your wishes about medical decisions in the event that you cannot make those decisions for yourself.
What is the difference between a living will and a health care surrogate designation?
The living will expresses your wishes about your medical decisions. A health care surrogate is the person you name to make medical decisions for you in the event that you cannot make them. Although a living will and a health care surrogate can be drafted separately, it is my practice to combine those documents.
What does Intestacy mean?
If you die without even a Will (intestate), the legislature of your state has already determined who will inherit your assets and when they will inherit them. You may not agree with their plan, but roughly 70 percent of Americans currently use it.
When should I plan my estate?
The short answer is now. If you do not have a comprehensive estate plan, act now so that you can ensure your wishes are heard when you can no longer make them known.
Life events that trigger the need for an estate plan or the update of an existing plan, include the birth of a child, children turning the age of majority so that they can now be a decision-maker, aging parents and the death of a spouse or a child.
When should I review my existing plan?
If you do not know whether you have written instructions for your disability, you have married or divorced, have persons named as decision makers who have since passed away or just are not sure whether your assets are addressed by your existing estate plan, then you should review your documents immediately and contact an estate planning attorney.
Do I really need an advance directive?
While there is no requirement that you have an advance directive, the best practice is to put your wishes in writing. If you do not have an advance directive, then the Florida Statutes define who can make those decisions for you. The person may or may not know what you want.
My advance directive is from another state. Will it be honored in Florida?
Yes, it should be honored in Florida. However, you should consider reviewing your estate planning documents on a regular basis to ensure that the document still accomplishes your wishes.
Can't I just use the internet to write a will, health care surrogate or durable power of attorney?
While there are certainly plenty of websites or programs that will allow you to prepare the documents yourself, Florida has statutes in place regarding these documents. Problems often arise from “DIY” documents that can result in your wishes not being honored. It’s better to consult competent legal help.
General Questions
What will happen during my strategy session?
We provide consultations in order to understand your situation and determine if we are the right solution for you. For an honest assessment, book a consultation with us today.
Do i need to come to your office to meet?
When appropriate, we offer phone and video consultations. All will signings must be done in person.
Where are you located?
Our office is located at
522 Alt 19 #1,
Palm Harbor, FL 34683
727-361-9716
Probate
What is probate?
Probate is the process of transferring a deceased person’s assets to someone else. The person in charge of administering the estate (called the personal representative) must figure out what the decedent owned and distribute the assets to the persons who are entitled to receive them.
Is probate always necessary?
No. There are many reasons why a probate would not be necessary. Sometimes, people will put everything they own in a trust. Other times, they have designated what they own in a way to avoid probate (an example of this would be having an account titled “Joint Tenants with Rights of Survivorship.”) You should consult an attorney to figure out what the situation requires.
How much does probate cost?
It depends. The Florida statutes provide for a fee that is presumed to be reasonably (generally 3% of the inventory value of the estate plus any income earned while the estate is being administered). However, if there are little assets or only real property, the attorney, client and people who would bear the fees can agree to a different fee.
My parent died with no money and a lot of debt. Am I personally responsible for their bills?
Generally speaking, no. Unless you have agreed to be personally liable for the bills (an example would be as a co-owner or a co-signer), you are not responsible. To be sure, consult an attorney to answer this question.
