WILLS, TRUSTS AND PROBATES
The transfer of an individual’s assets at death can be a complicated and difficult situation. There are many different legal tools used to transfer assets at death or before death. Many times, tax issues are a major determining factor when it comes to the transfer of assets. There are also times when the transfer of a family business, includes more concerns than just the transfer of assets at death or before death and transfer tax laws (i.e. estate, gift, or generation skipping transfer tax).
Planning an individual’s estate is a very personal and unique scenario. There are issues of disability to consider, the complexity of a modern family, addressing health concerns, and the individuals who will take a more active role in your life or managing the transfer of your assets.
Unfortunately, there are times when probate administration cannot be avoided or proper planning was not completed to avoid probate. Probate administration is the legal process by which a court transfers the assets of a decedent (deceased individual) to his or her beneficiaries. A probate administration handles the transfer of assets in accordance with a validly executed Last Will & Testament or through the state intestacy laws (the hierarchy of individuals entitled to one’s assets, with the state of Florida the last one on the list). In limited circumstances, with or without proper planning an individual may challenge the circumstances of a Will, Trust, or other instrument that controls the transfer of assets at death. This type of litigation is usually handles in Probate Court and can be a very horrible and difficult experience for families. Regrettably, people do find themselves fighting over the decedent’s assets in Probate Court and for that reason it is best to prepare the proper planning to limit the possibility of litigation.
Moffa, Sutton, & Donnini is a law firm that represents the interests of its clients in estate, trust, and tax planning. These subject matters tend to coincide for many individuals. In addition, we represent our clients in probate and trust administration matters. Contact an attorney at Moffa, Sutton, & Donnini law office if you are in need of representation.
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