Author Archives: Jay Butchko
The Ten Steps of a Real Estate Closing
“Closing” implies a quick, one-time event. But in reality, a real estate closing is a process. If any step in this process goes wrong, the entire transaction could be at risk. A good St. Petersburg real estate lawyer is thoroughly prepared for every step of this process, so buyers and sellers complete their real… Read More »
How Hard Is It to Make an Estate Plan?
Evidently, most people think it’s very hard to make an estate plan. Over two-thirds of Americans have no estate plan whatsoever in place. Most people in this group have never even tried to make an estate plan. Although an estate plan is a bundle of complex legal documents, and these documents must be properly… Read More »
What Does a Trust Administrator Mean?
Trust administration refers to the management and execution of a trust after it has been established. A trustee has a fiduciary duty to manage the corpus (property in the trust) in the best interests of the beneficiary. Usually, when a trust is first created, the settlor (person who creates a trust) and the trustee… Read More »
How to Find a Good St. Petersburg Estate Planning Lawyer
Lawyers are almost literally a dime a dozen in Florida. The Sunshine State has one of the highest number of attorneys per capita in the country. Most lawyers are used to working with forms. Additionally, most lawyers are used to dealing with strict rules governing these forms. But the strict rules in litigation matters,… Read More »
What is the Five-Year Rule in Medicaid Trusts?
Many of the long-term care facilities in Pinellas County are Medicaid nursing homes. These quality facilities are basically free, as long as the resident qualifies for Medicaid. But many people do not meet the government’s strict Medicaid eligibility income and asset limits. These limits change every year, but in general terms, applicants must have… Read More »
FAQs About QTIP Trusts
Like other kinds of trusts, a Qualified Terminable Property Interest trust avoids probate and therefore gives grantors (people who make trusts) more control over their assets. QTIP trusts are particularly attractive because they maximize all available exclusions without adversely affecting the marital deduction. Also, like other kinds of trusts, the rules regarding QTIP trusts… Read More »
What Do I Do With Inherited Property?
2023 and 2024 were rough years for Florida homeowners. But prices are expected to rise slightly in 2025 and 2026. This trend is good news for people who inherit real property, especially if that property is in poor condition. Rebounding prices give new owners, many of whom don’t want to bother with inherited property,… Read More »
Estate Planning for Single Adults
Many people assume estate planning is exclusively for married people with children. Indeed, these individuals have the most to gain from making a comprehensive estate plan. But an increasing number of adults, about 25 percent, are over 50 and have no children. These individuals usually have significant estate planning needs. Their needs are just… Read More »