Florida Probate Litigation Attorney Blog

Florida contested will attorneys will tell you that the loss of a family member doesn't always bring out feelings of loss for the deceased relative. Sometimes it brings out feelings of loss for an inheritance that does not appear.

With the economy in the bad shape it is in, more people are going to court to fight for what they think is their fair share of the estate.

One probate judge has four ongoing contested will cases where in the past he wouldn't see more than one at a time. "I'm attributing it to the economy," he said. 

Florida estate planning attorneys know many clients who would love to have a website or computer program that would help their heirs spend their money wisely. Maybe one day such a site will be widely available. But for now, it is available to the children of millionaires who do business with Citigroup.

The website helps millionaires' children manage their allowances, and notifies parents and bankers when when the kids blow through cash too quickly.

The site was developed by Tile Financial LLC.

Frequently, Florida estate planning lawyers are asked about establishing a power of attorney, and almost as frequently, the topic of power of attorney abuse comes up. How can the abuse of a power of attorney be avoided? There are ways to make abuse less likely.

A power of attorney is a legal document that can be one of the most important factors in our lives. If we become incapacitated, a power of attorney can help ensure that our desires will be carried out for us by the right people at the right time. If a power of attorney is crafted well, it will increase the likelihood that our values will be respected and our intentions and goals will be pursued despite our incapacity. Some very good things about a powers of attorney are that they are easy to implement, relatively easy to understand and use, and inexpensive to create. For that reason, they are a very useful Florida estate planning tool. The bad thing is that they can also be exceedingly dangerous and, if they get in the wrong hands, can become instruments of financial abuse and exploitation. In the wrong hands, a power of attorney can become a "license to steal."

What can you do to prevent power of attorney abuse? Common protective practices include:

Protect Your Heir's Inheritance Through Education

Earlier, we discussed the importance of shared values and open communication in preserving your estate for future generations. But once you have instilled the family values in your heirs identified in your estate plan, you also need to give them the tools to manage your estate down the road.

Educating your heirs to protect and build wealth is easiest if you start when they are young. Even small children can be taught the importance of solving problems without squandering money. As they grow older, your lessons will shape how their view financial matters and influence their ability the wealth you plan to leave them.

Is Creating an Estate Plan Enough? Not Really.

Of course, the first and arguably the most important step to preserving your wealth is creating a comprehensive estate plan. Without the right documents in place, any other steps would be futile. However, after you have created an estate plan that meets your needs, it is important to prepare your heirs to cultivate the wealth you plan to leave them.

Raising each generation to appreciate the value of the estate may not be as difficult as you think, especially if you start when children are young. In this post we will discuss the benefits of creating a family culture that will protect your estate. A future post will discuss the importance of educating your heirs to manage the estate once you have passed away.

Florida probate lawyers work with and think about probate issues every day, but they still understand that most people are not thinking about estate planning on a daily basis. Many people are unclear as to what probate even is. Hopefully this blog post can clear up some of the basics of Florida probate.

In Florida, probate is a court-supervised process for identifying and gathering the assets of a deceased person (decedent), paying the decedent's debts, and distributing the decedent's assets to their beneficiaries. The assets are distributed in this order: first, the decedent's assets are used to pay the cost of the probate proceeding, next, they are used to pay the decedent's outstanding debts, then the rest is distributed to the decedent's heirs. 

Chapters 731 through 735 of the Florida Statutes is where you can...

Dwight K. Jones, of Dunedin, was arrested last week and charged with theft from a person 65 years of age or older. Jones is accused of stealing more than $260,000 from his elderly mother. His mother lives alone and appears to possess all of her faculties. Her name is not being released to protect her privacy.

Jones was appointed as his mother's power of attorney in 1999.

In 2004, Jones approached his mother about taking out a new equity line of credit on her home so that he could start a new painting business. Though she had paid off the mortgage many years ago, she agreed. Jones then asked his mother to take out another line of credit so he could buy a home to rent out. He said the rental income could supplement her Social Security payments.

However, Jones never started a painting business or provided his mother with any rental income from the rental home. Instead, he pocketed the $220,000 from the loans.

As people are living longer and the divorce rate is around fifty percent, remarriage has become quite common. Many choose to find love again after divorce or the death of their spouse. However, the creation of these blended families can lead to many issues in estate planning. What once was a big, happy blended family might turn into discord upon the death of one of the remarried spouses.

 For example, let's say John and Jane are married. Both have been married before and have adult children from their previous marriages. If Jane dies first, there is a possibility that conflict could arise between Jane's children and John. Emotions can run high in situations like this, and anything you can do to avoid this scenario would be beneficial.

So, what should remarried couples do to avoid any family arguments after one spouse is gone?