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While it may not be the first thing someone thinks about when considering end-of-life decisions, it’s extremely important to understand the benefits of estate planning, especially for those with valuable, taxable estates.

1. Arguments Between Family Members and/or Beneficiaries When a family member passes away it can be a difficult time for those that he or she leaves behind. Not only must they cope with the physical loss of their loved one, but they must also undergo the emotional process of administering their estate. In instances where the decedent’s estate contains significant assets and complex family arrangements, unforeseen tensions and conflicts may arise among the beneficiaries. With proper estate planning in place before death, many familial issues can be proactively addressed. An estate plan that incorporates a revocable trust and has assets correctly titled into the trust at the time of death, can avoid the probate process altogether and keep the administration out of the court system, saving beneficiaries time, legal fees and court costs. Without proper estate planning, if the decedent died with more than $75,000 of assets, the beneficiaries will be forced to conduct a formal probate administration, which in Florida requires the engagement of an attorney to supervise the process. In a formal probate administration, the court will appoint a personal representative, aka executor, who will be authorized to do the following: Act on behalf of the estate Collect the assets Handle creditor claims Make distributions to the ultimate beneficiaries While family members have preference to serve as personal representative, sometimes it can be beneficial to have an independent professional serve as the personal representative. One example of an independent professional serving as personal representative would be for the attorney to serve. Having the attorney serve in the role of fiduciary can reduce tension between family members by providing communication about the probate process and ensuring all assets are accounted for and handled properly. An attorney will presumably not hold any bias towards particular family members and will maintain a professional demeanor throughout the process, with the sole priority of enforcing the provisions of the Last Will, or in the case there is no Last Will, to distribute the assets according to Florida intestacy statutes. 2. The Person Named as Personal Representative, aka Executor, Not Accepting the Role When a Last Will and Testament is created, a person should be identified to serve as executor of the estate. In Florida, the role of executor is referred to as personal representative. A personal representative or executor is essentially in charge of: Collecting all probate assets Serving notice on potential creditors Distributing the assets according to decedent’s Will While most people who are nominated as a potential executor will carry out their role, some will not want to assume the responsibility. If the named executor opts out, the court will have to appoint another person to administer the estate throughout the probate proceedings, which has the potential to create considerable delay in the probate process. The easiest way to proactively mitigate this situation is for the testator to name additional persons that should serve as personal representative, if the first named person chooses not to do so. These subsequently named persons are referred to as contingent nominated personal representatives. It is advisable that a Last Will identify at least two, if not three, possible persons that may serve in the role as the personal representative. 3. Assets in Multiple States Geographic borders will have a substantial impact on the way assets are distributed after the death of a loved one. If your loved one lived in one state, but also owned real estate in another, you will most likely have to conduct a probate administration in each state. Real estate is always governed by the laws of the state in which it is located. Some states allow family members to conduct probate administrations without hiring an attorney, while others will require you to engage an attorney in order to open the estate, such as Florida. A typical example would be a snowbird who travels between Florida and New York and owns real estate in both locations. In order to avoid state death taxes and income taxes, the snowbird is most likely to consider Florida to be his or her domicile and the death certificate will identify a Florida address as the last residence of the decedent. In such a situation the initial probate must be conducted in Florida, which will be considered the domiciliary probate. The Florida proceeding will control all tangible personal property owned by the decedent, such as bank accounts, brokerage accounts, jewelry, and vehicles. The Florida proceedings will also control any real estate located in Florida. If the decedent owned real estate in New York, then a separate probate proceeding must be conducted in that state in order to sell or transfer that piece of property on behalf of the estate. The New York proceeding will be known as the ancillary probate proceeding and it will be filed in the country in which the real estate is located. Having to conduct multiple probate proceedings in different states can create considerable delays and complications, so having an experienced probate attorney assist with the administrations is always advisable. Fortunately, the Walser Law Firm has attorneys licensed in New York, New Jersey and Florida so our law office can assist with property located in all of these states simultaneously. When one law office is able to handle all of the administrations it will save the beneficiaries time and money. 4. Accounting for Assets on the Estate Inventory If you have never experienced the probate process, you may be surprised at how tedious the marshaling and accounting of estate assets can be. In Florida, the personal representative is required to submit an inventory of assets to the court within 60 days of the estate being opened, which is the date the “ Letters of Administration ” are issued by the judge. Frequently the decedent will have passed away without a will or any other estate planning and the location and value of the assets held at death will not be known to the beneficiaries. In situations in which the assets are unknown, the personal representative will often have to do some investigation to track down clues as to where assets might be located, such as looking through the decedent’s mail and requesting tax returns from the IRS. The personal representative can submit a rough estimate of assets on the initial inventory filed with the probate court and can amend that inventory as more information is gathered from various financial institutions. Generally, a personal representative is permitted to give their own estimate as to what they think any particular asset of the estate is worth. In more complicated estates where there are multiple beneficiaries, or tax consequences, it is advisable for the personal representative to obtain professional appraisals of all assets. The values will be reported on the inventory which is filed with the probate court and subsequently served on all beneficiaries. Each beneficiary has the right to inquire as to how the value of any asset was determined and to request a copy of the appraisals. An independent appraisal is also a way to document any step up in tax basis that was experienced at the date of death. When a person sells an asset, such as a piece of real estate or share of stock, they will be responsible for reporting the sale on their tax return and paying a capital gains tax that may be associated with the transaction. The capital gain is calculated by finding the difference between what the asset was originally purchased for and what the asset eventually sold for. Capital gains are treated differently at death being that upon the death a loved one, any assets that were held in the name of the decedent are automatically reassigned a new tax basis according to the date of death value of the property. This process is referred to as a “step up in basis” and is utilized to avoid significant tax liability that would normally occur if the asset had been sold during the lifetime of the original owner. Since these capital gains taxes can represent significant savings, and in an effort to avoid questions from the IRS, an independent professional appraisal of the date of death values of the property is recommended. 5. Different Intentions Concerning the Decedent’s Residence or Other Real Estate What will be done with the real estate owned by a decedent is often a point of contention between family members. The easiest way to proactively handle this situation is for the Last Will & Testament to clarify what is to be done with the property. Assuming the decedent passed away without a Will, the estate will be probated according to Florida intestacy statutes. Intestate beneficiaries will often disagree as to whether they should sell the property and distribute the cash evenly, rent out the property, or keep the property and let a family member live there. These issues will have serious ramifications on how the probate process will proceed, since the sale of real property will most likely require the services of a realtor as well as require orders from the probate court authorizing the sale to a potential purchaser. In Florida, there is the additional complication of homestead status, which means the real estate is creditor protected and creates restrictions on how the property can be transferred. Homestead property must be handled properly with the probate court in order to successfully clear title. Therefore, it is important that before entering probate, that the beneficiaries decide whether the real property will be kept or sold. Without an agreement as to how to handle the real estate, probate can be unnecessarily delayed. In cases of disagreement, it is often easiest to sell the real estate and split the proceeds among the beneficiaries. 6. Mistakes Made from Going It Alone Many families and individuals who are going through the probate process for the first time instinctively assume they can handle the court proceedings themselves. Although some probate attorney fees may be more than you are willing to pay, probate attorneys are experts in this area of law and understand all issues and concerns that may arise. A common scenario is one in which the family starts the probate process on their own, mistakes are made with the pleadings submitted to the court and the judge refuses to sign the orders requiring the family to subsequently hire an attorney to fix the problem. Hiring an attorney from the start will lessen the time it takes to complete the probate process because the attorney will not be required If you have questions regarding a loved one’s probate, it is important to seek the advice of an experienced probate attorney. The highly skilled Florida probate attorneys at the Walser Law Firm are happy to assist you with all your probate needs. Call our Florida office at (561) 750-1040 to schedule a consultation today, or fill out our contact form . The post 6 Common Probate Issues appeared first on Walser Law Firm .

What happens if you die without a will in Florida? Learn Florida intestate succession laws, who inherits, and how probate affects your estate.

I f you own a home or other assets in Florida, having an estate plan is not optional—it is essential. After more than 40 years practicing probate and estate planning , I’ve seen firsthand what happens when families plan properly—and what happens when they don’t. As an attorney, former CPA, and holder of a Master’s in Estate Planning, I approach estate planning from both a legal and financial perspective. This checklist is designed to help you understand what an effective estate plan should include and why each step matters. 1. Create or Update Your Will A will allows you to: Name who inherits your assets Appoint a personal representative Name guardians for minor children However, a common misconception is that a will avoids probate. It does not. If you have to read the will to determine who receives an asset, that asset must go through probate to be legally transferred. Real-World Insight I often meet families who believe bringing a will to the bank is enough. It isn’t. Only the probate court can accept a will and issue Letters of Administration , which authorize asset transfers. 2. Consid er a Revocable Living Trust One of the most effective estate planning tools is a revocable trust. When properly funded, a trust: Avoids probate Reduces delays and court costs Provides privacy Case Example Many Florida retirees own multiple properties or investment accounts. Without a trust, heirs may face formal or even ancillary probate proceedings. A properly funded trust can eliminate those complications entirely. 3. Review How Your Assets Are Titled Asset titling determines whether probate is required: Individually owned assets typically require probate Joint ownership with rights of survivorship avoids probate Trust-owned assets bypass probate Professional Tip I’ve handled countless cases where estate plans failed simply because assets were never retitled into the trust. An estate plan is only effective if your assets are aligned with it. 4. Add Beneficiaries to Financial Accounts Bank accounts, retirement accounts, and brokerage accounts can often pass directly to heirs by naming beneficiaries. This step: Avoids probate Speeds up distribution Reduces legal costs Common Mistake Failing to update beneficiary designations after a divorce or remarriage is one of the most common—and costly—errors I see in the administration of estates after death. 5. Plan for Real Estate Transfers Real estate often creates the biggest probate delays. Options include: Transferring property in a revocable trust Adding heirs as remaindermen through a quitclaim deed or ladybird deed Real-Life Scenario If real estate does not have a co-owner with rights of survivorship or it is not held in name of trust, probate is required before ownership can transfer—even if there is a will. 6. Prepare for Blended Families and Second Marriages Second marriages and stepchildren often lead to disputes if planning is unclear. An effective estate plan should: Clearly define who receives what Address how property will be sold or retained Prevent conflicts over personal property like jewelry or family heirlooms Establish who makes medical and long-term care decisions. Experience Matters I’ve handled many contested estates where disagreements among second spouse, children, or stepchildren led to lengthy and expensive litigation—often entirely avoidable with proper planning. 7. Plan for Incapacity, Not Just Death Estate planning is not just about what happens when you die. It should also address incapacity. Your plan should include: Durable powers of attorney Health care directives These documents allow trusted individuals to manage finances and medical decisions if you become ill or incapacitated. 8. Understand Probate Timelines and Costs Probate is not quick. In Florida, it typically takes 6–12 months , and longer if disputes arise. Understanding this reality is critical when deciding whether to: Rely solely on a will Use trusts and beneficiary designations to minimize probate 9. Review and Update Your Plan Regularly Life changes—your estate plan should too. Update your plan after: Marriage or divorce Birth of children or grandchildren Buying or selling real estate Changes in tax or probate laws Increase or decrease in wealth 10. Work With an Experienced Estate Planning Attorney Estate planning is not a one-size-fits-all process. After more than four decades handling formal administration, summary administration, ancillary probate, and contested estates , I’ve seen how small planning mistakes can create major problems for families. Whether you: Have no estate plan Have outdated documents Recently lost a loved one Working with an experienced estate planning and probate attorney can save your family time, money, and emotional stress. Final Thoughts An effective estate plan protects your family, preserves your assets, and minimizes probate delays and costs. The best time to plan is before illness or death, when you can make thoughtful, informed decisions. If you are a Florida retiree who owns a home, other real estate, or has saved money for retirement, I encourage you to schedule a review of your current estate plan—or create one if none exists. Proper planning today can prevent unnecessary probate challenges tomorrow.

What Are the Types of Probate? A Florida Attorney Explains

For those unfamiliar with Florida estate law, there can be the assumption that “estate planning” is reserved for those who own a large gated property. Legally, however, an estate plan is nothing more than a set of legal documents that outline your wishes for the distribution of your assets after your death.  Estate plans are critical for anyone who wishes to control and protect their assets when they’re no longer able to do so. Working with an experienced estate planning attorney to prepare a will, trust, and other legal documents can ensure that your estate plan is tailored to your individual needs and goals. With that in mind, let’s take a closer look at what an estate plan entails, the benefits of estate planning in Florida, and how partnering with a law firm well-versed in the intricacies of Florida estate tax laws will make sure that your wishes are met. Florida Estate Tax Laws and Estate Planning Explained Florida estate tax laws are some of the most liberal in the country, with many folks moving to the Sunshine State to take advantage of the friendly estate laws. As we mentioned above, an estate plan is simply the legal documents you’ll need to make sure all of your assets are distributed per your wishes after your death. What is included in an estate plan Will The most common part of an estate plan is the will, which in Florida is known as the Last Will and Testament. This document will legally declare such information as who the executor of the estate will be, who the beneficiaries are, how the assets will be distributed, and the names of guardians in the case of minor children. Trust A trust is a fiduciary arrangement that allows for a third party (trustee) to hold property and other assets for the beneficiary both during their lifetime and after. Most trusts are revocable, meaning they can be modified at any time by the person establishing the trust (for more on how to dissolve a revocable trust click here ). Florida trust laws require trusts to be drafted by a licensed attorney, and doing so will help you and your beneficiaries avoid any expensive legal issues down the road. Power of attorney A power of attorney gives legal authority to a trusted individual who can make decisions and act on your behalf if and when you are no longer physically able to do so. Depending on the language of the legal document, this could entail legal, financial, and medical decision-making powers. Other documents Every individual situation is different, and it’s possible you’ll need an estate planning attorney to draw up other legal documents to protect your assets, such as Florida’s homestead exemption, spousal property ownership splits, and healthcare directives. Benefits of Estate Planning in Florida Considering the liberality of Florida estate law, it’s not difficult to see the many benefits of having an estate plan. Not only will you be able to make important decisions about your future and protect your hard-earned assets during your own lifetime, but it will also allow you to provide for your dependents after your death. In the end, making an estate plan will save you time, money, and excessive stress for both you and your loved ones. Hire An Experienced Estate Planning Attorney There are inevitably going to be estate planning costs when you hire a seasoned lawyer who’s an expert in Florida estate tax laws and Florida trust laws. But the benefits and security offered— specifically, tailoring your documents to your needs and ensuring that the estate plan is properly executed—will be well worth the investment in the long run. Estate planning is an important process that everyone should consider, regardless of age or wealth. By working with an experienced estate planning attorney, you can ensure that your wishes are carried out and your loved ones are protected. The law firm of Walser & Herman is dedicated to helping clients throughout Florida create customized estate plans that meet their needs and goals. The post Florida Estate Law: What To Know About Estate Planning in the Sunshine State appeared first on Walser Law Firm .

Expert Insights From an Attorney With 40+ Years of Experience

The process of Medicaid asset protection in the state of Florida can be a bit complicated to understand, but knowing the rules, laws, and regulations can help ensure that your money is going to the proper place, and that long-term care will still be provided. Proper Medicaid asset protection planning can often blindside individuals, most [...] The post Understanding Medicaid Asset Protection in Florida appeared first on Walser Law Firm.

To answer the question, "how long does an executor have to settle an estate in Florida?" an individual should be aware of a number of facets of the state's probate process. An executor's time to settle an estate varies considerably depending on assets, and there are multiple ways of achieving this process. To better understand [...] The post How Long Does An Executor Have to Settle An Estate In Florida? appeared first on Walser Law Firm.