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October 2014 Archives

What are the different types of guardianships in Florida?

There are four primary forms of guardianship considered in Florida cases. An individual may be appointed as a guardian of the person, a guardian of the property, or as a guardian of both the person and property. Additionally, there are cases in which someone may be appointed as a guardian of a minor. While each of these types of guardianship may seem self-explanatory in terms of significance, it may be helpful to understand the guidelines and limitations in each case.

Florida powers of attorney

When a person in Florida wishes to grant another the power to act on his or her behalf either generally or in a limited fashion, he or she may grant that authority through the preparation of a power of attorney. Examples of powers people choose to assign to others acting on their behalf include the ability to make medical or financial decisions.

What is probate?

The state legislature has codified the rules and regulations related to probate in the Florida Probate Code and the Florida Probate Rules. Generally speaking, probate is the process of identifying, gathering and organizing the assets of the estate of a deceased person. The process is supervised by the court. During probate, the decedent's assets are used to pay any outstanding debts of the decedent before distributions are made to heirs or beneficiaries. Florida law establishes two different types of probate: summary administration and formal administration. There is a third type of proceeding, Disposition of Personal Property Without Administration, which is not supervised by the court and applies only in limited circumstances.

The advantages of a living trust

Individuals in Florida who are estate planning may wish to look into a revocable living trust. This can be an useful addition to a will in an estate plan and provide a number of advantages that a will does not. A living trust refers to the fact that the grantor is alive at the time the trust is established. One important advantage of a living trust is that it can protect the grantor during his or her lifetime as well. With a trustee assigned to manage the assets, if the owner of the trust becomes incapacitated, someone is already in place to handle financial matters.

Advice for creating a will in Florida

A will may be an effective tool to transfer property from an estate to future generations. However, there are legal issues that may need to be taken into account prior to the will being deemed valid. In addition, marital laws may entitle a spouse to half of all community property even if such a document exists.

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