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Posts tagged "Inheritances"

Do you share inheritance after a divorce?

Inheritance laws regulate who is entitled to receive a deceased persons' estate and belongings. The laws are quite complex and vary according to the situation. Divorce makes inheritance laws even more complicated, and it becomes difficult to establish how inheritance should be divided. Questions arise when one party tries to claim rights to their ex-spouses inheritance acquired while the two were still married.

Inheritance laws in the U.S.

Inheritance is the passing on of property to the heir of a recently deceased person. A descendant's right to inherit property depends on the inheritance laws of the state. Spouses, children and grandchildren of a deceased person have the right to claim an inheritance. The state awards inheritance according to the inheritance laws.

Take all factors into consideration when planning inheritance

Florida is an extremely popular state for retirees and older individuals, so it should come as no surprise that many wills and estate plans are crafted in our state. As people age and approach the end of their lives, they want to make sure that their assets are cared for, and many want to use their final thoughts and wishes in order to help their loved ones.

Helping Florida residents with inheritance concerns

If you have drafted a will, you may feel that you are prepared for the day you are no longer here. You may feel that your assets will be distributed to your family as necessary and that your estate is in order. It is important to remember, however, that estate planning encompasses more than having a will. Accurately and appropriately dividing assets for inheritance is a complex legal field, and there are many different factors that may affect the process.

Moving could affect your executor selection

Most people dread moving for many reasons but one very common complaint is packing and unpacking. Another tough aspect is saying goodbye to friends, family and familiar comforts. But if your move includes more than a change of city or zip code, you may be looking at more changes than you ever could have imagined. If you are moving to another state, different state laws could change several issues you thought were in place and taken care of. Make sure you resolve any legal issues that could negate those you have put in place in Florida.

What happens if I die without a will?

When people pass away and have not put a will into place, something still must be done with their belongings and assets. Intestate succession is the term used for the disbursement of assets as performed by the state. It is done in a way that is dictated under the closest assumption of how the average person might distribute their remaining belongings.

What does inheritance planning involve?

When clients come to the Florida law firm of Frese, Whitehead & Anderson, P.A. for estate planning assistance, many do not realize how many options they have. For example, inheritance planning is viewed by many as the simple creation of a will that will allow assets to be left to loved ones. However, inheritance planning can be so much more.

Understanding inheritance laws for spouses in Florida

While many Florida residents choose to create estate plans to ensure their wishes are followed after their deaths, many others fail to make estate plans in time. When an estate plan is not in place, Florida inheritance laws govern the distribution of that individual's assets. Continue reading if you would like to learn more about what could happen to your assets if you fail to create an estate plan.

Establishing a guardianship of the estate

Occasionally, some lucky children are left valuable gifts after a loved one's passing. In the event these inheritances are of a value in excess of approximately $5,000, parents must establish what is called a guardianship of the estate. Depending on if the inheritance is left in the form of money or property, individual state laws dictates if and when a guardianship of the estate must be established by the minor's parents.

Setting your heirs up for success

When individuals consider their estate plan and the possibility of leaving an inheritance to their loved ones, they typically have many questions. Most often people wonder what they should leave to whom. For individuals with substantial estates, the concerns become even more complex. How much should be left to children? A spouse? Should your assets be divided equally or equitably among your loved ones? Even though these questions represent a significant amount of concern, none should outweigh an individual's concern for how their heirs will handle the inheritance once it's received.

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