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Wills, Living Wills, and Powers of Attorney:
By: Barry L. Miller, Esq. Offices Orlando
In today’s world, it is so important to not only have a will which will direct how your real property and personal property should be distributed, but other ancillary documents. Wills can be completed fast and efficiently, but they should be prepared by an attorney. Online services do not take into account state by state requirements and can create expensive problems. In addition to a will, everyone should have a living will to have directive if you are non functional and do not wish to be kept alive on a respirator. A valid power of attorney (POA) is a necessity in the event you are temporality or permanent incapacitated. An important factor with a POA is that it is no longer valid once the person dies. Also, different states have varying requirements for a POA and for how they must be executed.
Probate is a court process for identifying and gathering the assets of a deceased person, which handles the paying the deceased’s debts, and distributing the deceased’s assets to his or her beneficiaries. The assets are used first to pay the cost of the probate proceeding, then are used to pay the outstanding debts, and the remainder is distributed to the s beneficiaries.
There are two types of probate administration under Florida law: Formal Administration and Summary Administration. Summary administration is for estates having a value of under $75,000.
Also, if a descendant was a resident of another state and owned property in Florida, they must probate the estate in the state of residence and then open an Ancillary Administration in Florida to dispose of the property.
There are additional considerations in filing a probate if the estate involves homestead property and minor children and if the deceased died with or without a proper will.
We can assist you and your family in will preparation and probating the estate in an efficient and cost effective manner. Uncomplicated small estates can be filed and completed in less than thirty (30) days. Many of our probates are handled on a flat fee basis.
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