Florida is one of the many separate property states that give a decedent’s surviving spouse an “elective share” of the decedent’s property. This share of the estate is but one of several supportive mechanisms for surviving spouses in Florida. Others include homestead, social security, and employee pension plans. The term…
Vehicles often comprise part of a person’s estate after they pass. It is sometimes possible to distribute vehicles very soon after a person’s death, sometimes even without an order from the probate court. If the beneficiary of the vehicle is either the surviving spouse, or, if there is no surviving…
An interesting case recently surfaced involving the $200 million estate of a North Carolina real estate developer Henry Faison. Mr. Faison created a will devising his estate in 2000, but decided to make changes last year. Unexpectedly, Mr. Faison passed away in his office just before signing the second will.…
The Florida legislature recently saw fit to amend the Florida Power of Attorney Act (the “Act”). The revised Act, reflected in Ch. 709 of the Florida Statutes, became effective on October 1, 2011, as lawmakers re-wrote the entire chapter in order to conform more closely to the Uniform Power of…
Florida is one of many states that allow adult adoption, which is often used to allow a stepparent to adopt a stepchild later in life. See Fla. Stat. § 63.042. Florida has, however, limited this ability in certain circumstances, such as adopting one’s spouse. See Fla. Stat. § 63.042(2)(c) (finding…
Billionaire Ron Perelman is being accused of spending up to $30 million in legal fees from his daughter’s inheritance defending unsuccessful lawsuits against his former in-laws. After the death of Perelman’s second ex-wife, Claudia Cohen, he was appointed the “executor” of her estate, which in Florida, is referred to as…
When a trust has been executed in a foreign jurisdiction by a settlor who subsequently becomes a resident of Florida, such a trust will often recite that the law of the foreign jurisdiction controls. The fact that a resident decedent leaves little or no property in the state is not…
In United States v. Windsor, the Supreme Court took a historic step towards providing equality to all, regardless of sexual orientation. While a significant victory for same-sex couples across the nation, it must also be understood that this decision is somewhat limited in scope. As the Miami Herald noted, this…
Different types of trusts offer varying levels of protection from creditors, and just because an individual is the beneficiary of a trust containing a significant amount of assets, does not mean that creditors of that individual will be able to go after those assets if the individual fails to pay…
As ABC’s hit sitcom “Modern Family” becomes a reality for many American families, the estate planning industry must evolve as the number of same-sex marriages increases. A Gallup poll released on July 29, 2013, revealed that the majority of Americans, 52%, would vote in favor of legalizing gay marriage in…