Possibility of the Effect of Marijuana on Estate Planning In the 2014 legislative session, the Florida Legislature passed the Compassionate Medical Cannabis Act of 2014, which authorizes certain physicians to prescribe low-THC cannabis for use by specified patients. Nearly two years later, due to legal challenges, Floridians still have not…
Trust Protectors: An Extra Layer of Protection Traditionally, a trust has three main participants, a settlor, a trustee, and one or more beneficiaries. A settlor creates and/or contributes property to the trust. A trustee manages and holds the property in the trust for the benefit of other people who are…
B.B. King Estate Fight: One Year Later and No End in Sight Legendary blues musician B.B. King passed away on May 14, 2015 due to congestive heart failure at the age of 89. In a will created in 2007, King named his longtime business manager, Laverne Toney, as the executor/personal…
Florida Limitation on Convicted Felons Serving as Personal Representatives in Probate Administration When contemplating preparing a last will and testament, there are many options that have to be considered before drafting can begin. One important consideration is deciding who to nominate as the personal representative of your estate. A personal…
When Wills Mean Business: Planning for Your Business’s Future Planning for the future is not only necessary in your personal life, but also in your professional life, especially if you either own a business or invest in a business. Putting an estate plan in place early on, and keeping it…
The United States is famously known for its influx of immigrants moving here to build their lives, to retire, and for various other reasons. But specifically, tropical and sunny Florida is a very popular place for those coming from other countries. A booming 129,525 people moved to Florida from other…
Many people utilize a will, a trust, or some other standard form of estate planning to ensure that their loved ones are provided for upon their death. However, in Florida, individuals have an additional estate planning tool: adult adoptions. Under Florida Statute § 63.042, a husband and wife, an unmarried…
Many people, especially the large elderly population in South Florida, are targeted by various entities offering assistance and guidance in estate and financial planning. The sale of living trusts is a profitable business, and salespeople will target elderly individuals in need of financial planning. These salespeople will hold seminars, provide…
Planning for the future care of a special needs beneficiary, especially if that beneficiary is your child, can be difficult and overwhelming. There are many facets to consider, chief among them: upon what assets will the special needs individual rely after you have passed if you have been his or…
Music legend Prince’s mysterious death continues to cause speculation as all of the details regarding his estate plan, or lack thereof, have yet to emerge. Prince reportedly amassed a fortune worth at least $300 million and his estate is expected to have an equally impressive future income stream. The estate…