Recent Blog Posts
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 »
Trust vs. Will – Which is right for you?
One of the most fundamental questions I help clients answer is what should serve as the foundation of their estate plan: a Will or a Trust? It’s true that in Florida, you generally have two options regarding what operates as the cornerstone of your estate plan: (1) a Last Will & Testament vs. (2)… Read More »
Trust FAQs 2023
Frequently Asked Questions Revocable Living Trusts What is a Revocable Living Trust? This is an agreement with 3 parties: The Settlor(s) (the person/people who form the Trust); The Trustees (the people who manage the Trust); and The Trust Beneficiaries (the people who benefit from the Trust). For example, a husband and wife may name… Read More »
How to Choose a Trustee
Choosing a Trustee to oversee a beneficiary’s inheritance following your death is an important estate planning decision. This article discusses the main factors to consider in selecting Trustees and other important fiduciary roles. A Trustee is a fiduciary who oversees assets held in trust for the benefit of one or more beneficiaries. A “fiduciary”… Read More »