When someone passes away and there is probate property, there is always the possibility of a lawsuit. When beneficiaries do not agree on the distribution of the decedent’s property, litigation ensues. Probate disputes are inherently unique: they are wrapped in a shroud of emotion; the issues are complex; the parties…
All states have their own constitutions and state laws. Because of this, states may have different provisions for how people are allowed to pass on their property at death. It is important to be aware of the laws of the state where you live, and also any states where you…
The IRS released a 1.2% interest rate under IRC § 7520 for June, which determines the present value of an annuity, an interest for life or term of years, or a remainder or reversionary interest. Rev. Rul. 2013-12 tbl. 5. With interests rates at an all-time low, charitable donors are…
In addition to Florida’s strict two-year rule discussed last week in Part 1 of this blog post, there may also be shorter time periods to bring a claim depending on the type of creditor and the nature of the claim. Whereas Section 733.710 is a jurisdictional statute of nonclaim, Section…
June 25, 2013 will mark the four-year anniversary of the untimely demise of the man affectionately referred to by the masses as the King of Pop: Michael Joseph Jackson. Despite suffering from an infirmity that has ended the professional pursuits of actors, entertainers, and businessmen alike (Death!), Forbes Magazine reported…
“Who owns what and how?” Those are always the first questions asked when evaluating estate assets. Personal property is generally not titled because it is usually clear who the owner of the item is. Chances are no one will be confused about the ownership of your shoes or watch. Real…
The path to a guardianship begins with a petition to determine incapacity. Next, there is an examination of the alleged incapacitated person by a three-person examining committee. Finally, there is a hearing on the matter where there must be clear and convincing evidence that the alleged incapacitated person is in…
What happens when someone is illegally living in estate owned property and will not leave? Easy. Evict them. Right? Yes, if the person is a tenant of the property and the estate is the landlord. Eviction actions arise out of disputes between landlords and tenants and can be filed in…
When the mental faculties of a person come into question, the court can be petitioned to implement a guardianship. Courts, generally, view this as a last resort when there is no viable alternative. Guardianships can be limited in their scope or plenary. Part of the guardianship processes is an examination…
When a ward is incapable of taking care of his or her own interests, a court usually appoints a “guardian” to take care of that individual. A guardian may be appointed when a person experiences mental incapacity or a disability. A court may also appoint a guardian for a minor…