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What Are Probate Assets?

Probate administration applies only to probate assets. Probate assets are those assets that were owned in the decedent’s sole name at death, or that were owned by the decedent and one or more co-owners and lacked a provision for automatic succession of ownership at death. For example: A bank account or investment account in the [...]

By |2018-06-27T02:31:15+00:00May 22nd, 2018|

The Difference Between Medicare and Medicaid

Medicare and Medicaid are both designed to help disabled citizens and seniors address health-care expenses, but there are significant differences between them:   Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a [...]

By |2018-06-27T02:55:10+00:00May 16th, 2018|

Whom Will The Court Appoint To Serve As Personal Representative?

If the decedent had a valid will, the judge will appoint the person or institution named by the decedent in that will to serve as personal representative, as long as the named person or bank or trust company is legally qualified to serve. If the decedent did not have a valid will, the surviving spouse [...]

By |2018-06-27T02:29:57+00:00May 15th, 2018|

What Is A Trust?

A trust is a fiduciary relationship where a trustee is tasked with investing, protecting and managing property as well as the income that the property generates for a beneficiary. There can be more than one trustee and more than one beneficiary in a trust. The intent of the grantor, as expressed in the terms of [...]

By |2018-06-27T02:17:48+00:00May 7th, 2018|

What Are The Estate’s Obligations To Estate Creditors?

One of the primary purposes of probate is to ensure that the decedent’s debts are paid in an orderly fashion. The personal representative must use diligent efforts to give actual notice of the probate proceeding to ‘known or reasonably ascertainable’ creditors. This gives the creditors an opportunity to file claims in the decedent’s probate estate, [...]

By |2018-06-27T02:28:30+00:00May 7th, 2018|

Is A Trust A Substitute For A Will?

No, in most situations. A trust may be used in addition to a will. This is because a trust can handle only the property that has been put into it. Any property of yours that is not placed in the trust either during life or at death in most instances escapes the control of the [...]

By |2018-06-27T02:26:27+00:00May 1st, 2018|

Alternatives To Formal Administration In Florida

Florida law provides for several alternate abbreviated probate procedures other than the formal administration process.   “Summary Administration” is generally available only if the value of the estate subject to probate in Florida (less property which is exempt from the claims of creditors; for example, homestead real property in many circumstances) is not more than [...]

By |2018-06-27T02:38:35+00:00April 17th, 2018|

Who Supervises The Probate Administration?

A circuit court judge presides over probate proceedings. The judge will rule on the validity of the decedent’s will, or if the decedent died intestate, and will consider evidence to confirm the identities of the decedent’s heirs as those who will receive the decedent’s probate estate. If the decedent had a will that nominated a [...]

By |2018-06-27T02:33:21+00:00April 17th, 2018|

Special Policies That Apply To Spouses For FL Medicaid

Resources and income are evaluated for married couples when one spouse is institutionalized and one spouse continues to live in the community (referred to as the “community spouse”) when applying for the Institutional Care Program (ICP), Institutional Hospice, HCBS Waiver (Cystic Fibrosis, iBudget SMMC LTC only) or PACE Programs. Resources at Application: All resources of [...]

By |2018-06-27T02:50:42+00:00April 13th, 2018|

What Is A Power Of Attorney?

A power of attorney is a legal document in which a person creating it (referred to as the "principal") delegates authority for legal decisions to be made by another (referred to as the "agent"). The power of attorney can encompass a wide range of acts to be delegated to the agent or only enable the [...]

By |2018-06-27T02:15:22+00:00April 8th, 2018|