Crestview Probate and Estate Planning Law Blog
Who should you name as trustee when you create a trust?
Creating a trust is a way to reduce the taxable amount of your estate, retain control over your legacy or even diminish the value of your personal assets so that you can qualify for government assistance as you age. One of the most critical aspects of creating a...
How to deal with the beach house in your estate
Living on the Florida panhandle often means that your estate includes a condo or beach house. But when elderly parents who own beachfront property die, their adult children may squabble over who will get that prime piece of real estate. Some may angle to keep it in...
Should you sell your home or leave it in the estate?
Many people decide to sell their homes when they get older. Others decide to leave their home to their heirs. Which one is the right option for you? That depends on what you want to do as you get older. If you want to move, downsize or give monetary gifts to your...
What is an easement in real estate?
When you purchase a property, you must do your due diligence. One thing that you should ensure you check for is the presence of an easement. In the simplest of terms, an easement means that there is someone else who is going to have access to your property for some...
What happens if an heir has the right of first refusal on a home?
Serving as the executor or administrator of an estate is hard enough without any special requirements, but many testators will include complicated provisions in their estate plan that make your job even harder. For example, if there is real estate, such as a family...
How do irrevocable and revocable trusts differ?
Some people choose to leave the assets they have for their loved ones in trusts. This makes it easier to pass them along. It’s a more private option than going through the probate court with a will. Once you start to go through the types of trusts that you might use,...
Is it time to take a second look at your estate plan?
You may have a basic estate plan in place, but did you know that estate plans are meant to grow with you? Over time, you may need to review and alter them to adapt them to changes in your life. There are several times when it might be a good idea to review your...
Should you leave a fair inheritance or an equal inheritance?
For some families, the fairest inheritance is one that is equal. A parent may have three children who are all roughly at the same place in life. The easiest option is to divide the estate into thirds and give them each an equal portion. It’s simple, straightforward...
What creditors do you have to repay as executor of an estate?
Settling the estate of someone else or serving as their executor is a difficult task that requires careful planning, documentation and execution. One of the tasks that you will have to complete in your role as executor is the repayment of outstanding debts held by the...
Understand the closing process for a new home
The final step toward owning a home is the closing process. During this time, you will sign all the documents to finalize the deal, and you’ll make the payments necessary for the process to finish. From the time that your offer on the house is accepted until you have...
