FLORIDA ESTATE PLANNING AND PROBATE LAW BLOG

The Florida Estate Planning and Probate Law Blog is focused on recent federal and state case law and planning ideas.

FLORIDA PROBATE LAW - WHO OWNS A DECEDENT'S ASHES?

♠ Posted by Marc J. Soss in ,,,,,,
The parents of a deceased child were the sole heirs of the child’s estate. The child’s remains were cremated, and the parents could not agree on the final disposition of his assets. The father petitioned the probate court to divide the ashes equally among the mother and father as the heirs of the child. The Florida’s probate code defines “property” as “both real and personal property or any interest in it and anything that may be the subject of ownership.” The probate court found that the ashes were not “property” subject to division in accordance with the division of other property of...
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CHANGES TO FLORIDA LAW IMPACTING YOU

♠ Posted by Marc J. Soss in ,,,,,,,,
FLORIDA'S HEALTH CARE SURROGATE STATUTES: Effective October 1st, an individual may assign the power to a surrogate to make health care decisions for that person even if the person is not incapacitated. If there is ever a conflict between the surrogate and the principal, the principal's decision is controlling as long as the principal has capacity. A principal may also amend or revoke the durable health care surrogate as long as the principal is not incapacitated. A principal can do this through a variety of different ways including written amendments or written revocation. Physicians still...
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WHERE CAN WE FIND THOSE AGE 65 AND OLDER

♠ Posted by Marc J. Soss in ,,,,,,,
As the Baby Boomers reach retirement and older generations continue to live longer, more counties across America are turning gray (their hair). A new analysis finds that 97% of counties saw an increase in their 65-and-older population since 2010. On average, a U.S. county’s 65-and-older population grew by 12.4% from 2010 to 2014. Some counties are “aging” much more rapidly than others.   The State of Florida, the destination for most snowbirds and retirees, is one of the nation’s grayest states. Overall, 19.1% of the Sunshine State’s population is 65 and older (the highest percentage...
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ESTATE PLANNING NEEDS FOR FOREIGN CLIENTS

♠ Posted by Marc J. Soss in ,,,,,,
It is no surprise that foreign residents do not have the same estate or gift tax exemptions as a U.S. resident.  In 2015, a U.S. resident may gift, during his or her lifetime, or bequeath upon death as much as $5.43 million. In contrast, a foreign national has an estate tax exemption of only $60,000. As a result, a foreign national who owns a $2 million house in the U.S. can expect their heirs to pay some $740,000 in estate taxes upon their death.  On the gift tax front, foreign nationals should take advantage of their annual gift tax exemptions of $14,000. However, unlike...
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HOW CAN I AVOID STEP-CHILDREN FEUDING OVER AN INHERITANCE

♠ Posted by Marc J. Soss in ,,,,,,,,
Statistics show that two in every five marriages is a remarriage and the number of individuals who have been married more than once has nearly doubled. The end result is more step-parents, half-siblings, and step-nieces than ever before.   While many of these families get along while both parents are alive, fierce fighting can occur when one parent dies with a sizeableestate. The battles occur over what assets each parent and their children claim they accumulated prior to and during the marriage. The best way to solve many of these issues is with a pre-marital agreement. ...
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I AM A RESIDENT OF WHAT STATE?

♠ Posted by Marc J. Soss in ,,,,,,,,
The criteria for determining whether a deceased individual's estate is subject to probate or estate taxes in a state is based upon their state of domicile at death. Reaching that determination can be complex. For income tax purposes, the residency requirement is based on the number of days you reside in a particular state in a given year. If an individual does not spend more than 183 days in any one state during the year, more than one state may claim that individual as a resident, causing them to potentially owe tax in two or more states. However, for purposes of determining...
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UPDATE YOUR FLORIDA POWER OF ATTORNEY AND HEALTH CARE DESIGNATIONS REGULARLY

♠ Posted by Marc J. Soss in ,,,,,,,
Most individuals have their estate planning documents prepared and then put them away on a shelf. During that time period the laws pertaining to them can change many times. As a result, it is very important to review your Florida Health Care Surrogate and Powers of Attorney at least every three (3) years.  Your Health Care Surrogate appoints a trusted person to make medical decisions on your behalf in the event an illness or injury renders you unconscious or otherwise incapacitated. Your Power of Attorney appoints an individual to make financial decisions or execute transactions...
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SARASOTA GUARDIANSHIP JUDGE APPOINTS COURT MONITOR

♠ Posted by Marc J. Soss
SARASOTA – A circuit judge appointed an independent court monitor on Friday to investigate the case of a Siesta Key resident and former art gallery owner who has spent the last two and a half years under the control of a professional guardianship, after attorneys for her daughter argued that the hasty procedure making her a ward of the court was a violation of due process. In January 2013, the 12th Judicial Circuit Court named the nonprofit agency ...... as the guardian of Marise London, at the request of the Department of Children and Families’ Adult Protective Services division. The agency...
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NEW STATUTE PROTECTS AGAINST ELDER ABUSE BY CAREGIVERS

♠ Posted by Marc J. Soss in ,,,,,,,
The newspapers, especially in Florida, are filled with stories about family members and guardians taking advantage of the elderly. While that may receive all of the press, financial elder abuse by caregivers remains a major problem. To combat this problem, several states (most recently, Illinois) have enacted statutes appropriately making it more difficult for unscrupulous caregivers to extract gifts. These statutes create a presumption of fraud or undue influence for such gifts. They also create the  possibility of liability and professional discipline for attorneys effectuating...
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CHEAP WILLS CAUSE MAJOR HEADACHES

♠ Posted by Marc J. Soss in ,,,,,,,,
Ever wonder why you can purchase a computer program, for under $40, and be able to create an entire estate plan? The answers is that most individuals are looking for bargains. However, being cheap when it comes to your estate planning may cause huge problems when you die.  Modern family structures (second and third marriages, children with multiple spouses, etc..) have also added complexity to the drafting of estate plans.   A person should seek out the advice of a competent Florida Estate Planning attorney when having their estate plan drafted.&nbs...
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