ESTATE PLANNING IN MIAMI BEACH, FLORIDA, THE TALE OF THREE MIAMI -DADE PROBATE CASES THAT COULD HAVE ALL BEEN PREVENTED
Good estate planning can be very effective in avoiding probate court involvement and carrying out the decedent’s wishes. Yet, many estate plans fall short for various reasons. Many people create a will and think they have done sufficient planning.
ESTATE PLANNING IN MIAMI BEACH, FL, IS A WILL ENOUGH?
In my first example, the grandmother passed away leaving everything to her son by will and thus a probate was done at that time. Years later after much estate planning discussions, the son died leaving everything to his daughter by his will, no trust was ever created. A will does not prevent the need for probate in Miami-Dade County or Broward County. A will is merely a map to help explain how the assets should be distributed to the probate court. Thus, a simple estate plan with a funded revocable trust could have prevented both of these probates.
DO I HAVE TO LIST BENEFICIARIES ON MY RETIREMENT IF I AM MARRIED?
In my second example, a probate was required when a husband died without listing a beneficiary on his retirement assets. His will stated his wife received all assets, yet a probate case was required to get this done. In the third case, the decedent created a trust and wrote letters to all banks and institutions explaining his wishes to place all assets into his revocable trust either as the owner or the trust as the beneficiary, but they were not honored.
WHAT IF I DON’T FUND MY TRUST? WHAT IF I MAKE A LIST OR WRITE A LETTER?
Unfortunately, writing a letter or making a list is not enough to fund a trust. Banks and investment companies have their own rules and procedures for transferring assets into a trust. Most requirements involve a signed document and immediate action to actually transfer ownership into the trust during the life of the trustee.
COULD ALL THREE OF THESE MIAMI-DADE PROBATE CASES HAVE BEEN PREVENTED?
Yes, by hiring a Miami Beach estate planning attorney and properly creating and funding a revocable trust, probate court involvement and the hiring of a Miami Beach probate attorney can be avoided. Letters and wishes are not enough. Each institution must be notified and the ownership or beneficiaries listed correctly. The same stands for real estate; a deed must be recorded to reflect the trust as the owner.
WHY SHOULD YOU USE ALLY M. GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING IN MIAMI BEACH,FL AND MIAMI-DADE AND BROWARD PROBATE MATTERS?
As a Miami Beach Estate Planning, Wills and Trusts and Probate Attorney in Miami Beach, Florida with over twenty-six years of experience and both a Psychology and Law degree, I handle these matters with knowledge and sensitivity. I am familiar and comfortable with both the Miami-Dade probate court system and Broward County probate court and know how to get things done. Additionally, because I do both estate planning and probate law, I am familiar with the challenges of each and provide my clients with additional protections. Call or email me today to discuss your Miami Beach, Florida Estate Planning, Wills and Trusts and Miami-Dade County, Florida Probate matters. I am happy to help you and your loved ones during this important process.