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CAN I SELL MY DECEASED PARENT’S HOUSE?

CAN I SELL MY PARENTS HOUSE NOW THAT THEY ARE BOTH DECEASED?

The answer is it depends. If the house/apartment is in one parent’s name alone and they passed away or the house/apartment is in both of your parent’s names and they both passed away; then no, you cannot sell it and probate must be done.  An attorney must be hired and the probate process begins. I received a call this week from a daughter trying to sell her father’s house. I was referred to her by her real estate attorney, who knew that nothing could be done unless the probate court either approved the sale or declared the real estate homestead, thus, passing the property directly to the children. The problem in this case was the daughter wanted all of the money from the sale and she had a brother. Thus, either elect homestead status and avoid creditors and share the sale proceeds with your sibling; or petition the court to approve the sale of real estate and distribute the sales proceeds by her father’s will giving everything to his daughter and nothing to his son, but receive no homestead creditor benefit and thus, the sales proceeds are subject to creditors, if any.  

WHAT IS HOMESTEAD IN MIAMI-DADE AND BROWARD COUNTY?

To elect homestead or not to elect homestead is an easy choice for most people. Homestead is a special Florida bonus that benefits people who choose to live here and make Florida their state of residency. Individuals or couples can apply for homestead at the property appraisal’s office in the county in which they live or do so online. The application usually requires proof of address for voter’s registration, vehicle registration, and Florida driver’s license and all three are checked to make sure they match the home address in which the person applies for the homestead exemption. Once the application for homestead is accepted, the homeowner’s receive tax benefits and slower increases on future property taxes. In Miami-Dade County, the website is http://www.miamidade.gov/pa/exemptions.asp.

WHAT ARE THE BENEFITS OF HOMESTEAD AND HOW IS MIAMI-DADE PROBATE EFFECTED BY THE HOMESTEAD EXEMPTION?

Aside from the tax benefits during the homeowner’s life, if they are still living in that property and it constitutes their homestead, there are further benefits at the time of death. Exempt homestead real estate may pass to a spouse or lineal descendants outside of probate and is usually exempt from creditors. Of course, a probate attorney must be hired and assist in this process. Once hired, the probate attorney may petition the court to determine homestead. 

CAN I STILL KEEP HOMESTEAD EXEMPTION IN DADE OR BROWARD COUNTY IF I MOVE MY REAL ESTATE INTO A REVOCABLE TRUST? 

Yes, you can maintain the homestead exemption with a revocable trust. Estate planning and using a  revocable trust would have helped the daughter in the story above by allowing the house to pass directly to her at her father’s death, with no need for probate court involvement; saving her privacy, time, and money. Estate planning using revocable trusts are a great solution and if funded properly, avoid the need for both guardianship and probate court.

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING IN MIAMI BEACH, TRUST ADMINISTRATION, AND MIAMI-DADE AND BROWARD PROBATE MATTERS?

As a Miami Beach Estate Planning, Wills and Trusts, Trust Administration, and Probate Attorney with over twenty years of experience and both a Psychology and Law degree, I handle these matters with care and sensitivity. I am familiar and comfortable with both the Broward County and Miami-Dade probate court system and know how to get things done. Call or email me today to discuss your Miami Beach Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.  I am happy to help you and your loved ones.

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FAMILY FEUDS AND POWERS OF ATTORNEY

WHY ARE THERE SO MANY FAMILY FEUDS WITH POWERS OF ATTORNEY?

A Durable Power of Attorney is a legal document used to transfer assets when the owner of real estate, bank accounts, investments, and other assets, is alive yet incapacitated. A Durable Power of Attorney ends at the death of the owner and cannot be used to transfer assets after death. I have received many calls where siblings are fighting because one adult child moved the decedent/owner’s assets with a Power of Attorney document and did not tell the other sibling. This situation can be prevented with proper estate planning. 

WHAT IS GOOD ABOUT A POWER OF ATTORNEY?

A Durable Power of Attorney is a useful document and can help families when used correctly. Recently, an attorney friend called and said her husband’s mother was in the hospital and lost her memory and asked if the Durable Power of Attorney previously signed could be used to transfer assets and avoid probate. The husband, being an only child and the sole Durable Power of Attorney, properly moved assets from his widowed mother’s name to his name, thus avoiding Probate court involvement in Miami-Dade County. If he had other siblings, this would not have been the best option and proper wills and trusts and estate planning would be required to prevent probate court involvement. 

ESTATE PLANNING WORKS BEST IF YOU PLAN AHEAD 

In the example above, the family was lucky and everything worked out with the Durable Power of Attorney, but in other cases this would not work. In most cases, proper estate planning documents must be created to transfer assets, such as real estate, bank accounts, business shares, and investments to a revocable trust. Also, a Durable Power of Attorney covers incapacity, but a regular Power of Attorney does not. In most cases, a more protective Limited Power of Attorney works better in combination with other estate planning documents, allowing assets to be transferred to a revocable trust instead of the appointed individual having the ability to transfer assets as they choose; preventing the possibility for theft and elder abuse. 

SHOULD WE USE FREE ESTATE PLANNING FORMS ON THE INTERNET?

No, using estate planning forms that are free or offered at nominal costs over the internet are not the best option. Just like you would go to your doctor if you had a heart problem or any other medical matters, hiring a professional is important and choosing the right attorney for you is even more important. 

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING IN MIAMI BEACH, TRUST ADMINISTRATION, AND MIAMI-DADE AND BROWARD PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, Trust Administration, and Probate Attorney with over twenty years of experience and both a Psychology and Law degree, I handle these matters with care and sensitivity. I am familiar and comfortable with both the Miami-Dade and Broward County probate court system and know how to get things done. Call or email me today to discuss your Miami Beach Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.  I am happy to help you and your loved ones.

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HOW LONG DOES MIAMI-DADE AND BROWARD COUNTY PROBATE CASES TAKE TO COMPLETE?

HOW LONG DOES PROBATE COURT TAKE IN MIAMI-DADE COUNTY AND BROWARD COUNTY, FLORIDA?

Probate in both Miami-Dade and Broward county is taking on average four to six weeks or longer to get opened once all of the papers are filed. Then if the person died less than two years ago, a notice to creditor is required, that is an additional three months of waiting to see if any creditors file claims. The waiting continues as the files are reviewed taking many months or a year for seemingly simple probates. To avoid the long waits, I recommend planning ahead and either doing a revocable trust with proper funding or making sure all assets have paid on death beneficiaries in less complicated situations. My most recent probate just completed in eight months and was fairly simple with only one bank account. The entire case could have been prevented with a paid- on death beneficiary on the bank account. 

WHAT IS A PAID ON DEATH BENEFICIARY ?

A paid- on death beneficiary is a person named to receive the asset should the owner pass away. In my example above of my avoidable probate with only one bank account, the owner simply could have told his bank to put his sister and given her name and information and she could have received the money with proper identification and a certified death certificate. Instead, we began the Miami-Dade probate process, by filing her brother’s will and publishing the notice to creditors to see if any existed.  The process ended eight months later with her getting the same check she would have gotten had he put her name as a paid-on death beneficiary. 

DOES ESTATE PLANNING IN MIAMI BEACH, FLORIDA PREVENT A MIAMI-DADE PROBATE? IF I OWN REAL ESTATE DO I NEED A REVOCABLE TRUST?

Revocable trusts are part of estate planning tools and can be very useful when real estate and businesses are owned. By creating a revocable trust and properly putting assets inside the trust, you can prevent probate court involvement. Revocable trusts may also be used to prevent guardianships, if needed. 

DOES ESTATE PLANNING IN MIAMI BEACH PREVENT FIGHTING AMONG FAMILY MEMBERS?

Estate planning can definitely prevent fighting. By clearly stating the owner’s wishes and funding everything according to the plan, peaceful resolution is available. Please contact mewith your Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.  I am happy to help you and your loved ones.

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DOES ESTATE PLANNING SAVE YOU TIME AND MONEY?

DOES ESTATE PLANNING IN MIAMI BEACH SAVE YOU AND YOUR LOVED ONES TIME AND MONEY?

Yes, estate planning at Ally Glaser, P.A. definitely saves you and your loved ones both time and money. I received a call where a seventy-year old man has a girlfriend who lives with him and he supports. He also has four adult children from a previous marriage, and a bunch of assets and businesses. He is under the 2019 estate tax exemption; which is 11.4 million for a single person and 22.8 million for a married couple. Thus, he may not need tax planning at this moment and he can definitely benefit from estate planning. 

AT ALLY GLASER, PA., HOW DOES ESTATE PLANNING IN MIAMI BEACH, FLORIDA BEGIN?

At Ally Glaser, PA, the planning begins with a free introductory phone call so we can get to know each other and establish exactly what needs to be done. At the end of the informational call if we both want to move forward, I send an email with my estate planning questionnaire and the future client completes this as best as they can and we set up our first meeting to officially get started and strategize regarding their specific needs.

IS ESTATE PLANNING DIFFICULT?

No, the most difficult part of estate planning is knowing that we will all pass away at some point. Once that is dealt with, the planning process is relatively easy assuming you know what you want.  In the example above, I would create a revocable trust, pour over will, health care surrogate, health care directive, and power of attorney. I will also create additional documents to assist in funding the trust. For example, moving his businesses and homestead to trust ownership rather than remaining individually owned so his loved ones can avoid probate court involvement. I will also implement a strategic plan where the adult kids and the girlfriend are provided for and hopefully, happy in the end. 

DOES ESTATE PLANNING PREVENT PROBATE IN BOTH MIAMI- DADE COUNTY AND BROWARD COUNTY, FLORIDA?

Yes, if done correctly, estate planning can prevent probate court involvement from being needed. Thus, the loved ones, minor children, grown children and spouses or girlfriends or boyfriends can have an easier time handling their loved one’s passing. With estate planning, the family deals with the assets privately. With probate court, all matters must be approved by a Judge. 

Please contact me with your Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.  I am happy to help you and your loved ones.

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WHY WOULD WE HAVE A DOUBLE PROBATE COURT REQUIREMENT?

WHY WOULD WE HAVE A DOUBLE PROBATE IN MIAMI-DADE OR BROWARD COUNTY, FLORIDA?

I received a call where the grandmother and grandfather, owning everything jointly, passed away, leaving everything to their only child by will. Many years passed and nothing was done regarding probate court, hiring a Miami-Dade or Probate Attorney, nor transferring these real estate assets; then the daughter, an only child passed away too. Now her two sons need to hire a Miami-Dade Probate Attorney and do two probates at the same time; creating double the work. This is complicated by searching for documents that are very old and very necessary.

AT ALLY GLASER, PA., WHAT IS INVOLVED IN OPENING A MIAMI-DADE OR BROWARD COUNTY PROBATE CASE?

At Ally Glaser, PA, we do both Dade and Broward Probates with over twenty- years of experience and ease and familiarity. I love probate cases, but they do take time and money which could have been prevented with good estate planning. 

IS PROBATE IN MIAMI-DADE COUNTY OR BROWARD COUNTY SIMPLE?

No, Probate Court involvement in both Broward and Miami-Dade County are not simple. The courts are overcrowded as many elderly people retire and die in Florida. This leads to more delays for probate administrations to be completed. In addition, because of the increased number of fraudulent claims to estates, both courts have increased their requirements and documents, thus making the process more complicated. 

DOES ESTATE PLANNING PREVENT PROBATE IN BOTH MIAMI- DADE COUNTY AND BROWARD COUNTY, FLORIDA?

Yes, if done correctly, estate planning can prevent probate court involvement from being needed. Thus, the loved ones, minor children, grown children and spouses with separate assets can have an easier time handling their mother’s, father’s, or loved one’s passing. With estate planning, the family deals with the assets privately. With probate court, all matters must be approved by a Judge. 

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING, TRUST ADMINISTRATION, AND MIAMI PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, Trust Administration, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with both the Miami-Dade and Broward County probate court system and know how to get things done. My unique approach to estate planning, probate, and trust administration, allows the family and loved ones to work together peacefully even in the most difficult situations. Call or email me today to discuss your Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.  I am happy to help you and your loved ones.

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ADULT CHILDREN AND ESTATE PLANNING IN MIAMI BEACH, FLORIDA

AI received calls recently by single, divorced, and widowed parents, many with grown children, asking me if they needed estate planning. I always say it is important to have estate planning as it provides peace of mind for you and your loved ones in the case of incapacity, forgetfulness, and death. 

AT ALLY GLASER, PA., WHAT IS INVOLVED IN ESTATE PLANNING? IS IT MORE THAN WILLS AND TRUSTS?

Basic estate planning begins with health care documents, including a living will, a power of attorney, and a will and revocable trust. Additionally, I recommend a letter written to the loved ones, especially their children whether young or grown adults stating their wishes in their own natural way. I also recommend that all bank and retirement accounts, and life insurance policies be checked to confirm the beneficiaries are in order and stated clearly. I have found many situations where the beneficiaries were left blank or incomplete, or worse, an x-spouse was the beneficiary from a very long time ago. 

I HAVE ADULT CHILDREN, DO I STILL NEED ESTATE PLANNING?

The ages of your children are not a factor in determining whether you need estate planning or not. Young parents with real estate and assets benefit from estate planning, and also single, divorced, and widowed parents may also benefit from estate planning. Married couples also benefit from estate planning. Do you have wishes regarding who gets what if you should pass away? If the answer to this is also yes, you too need estate planning. 

IF PROBATE IN MIAMI IS SIMPLE, WHY DO I NEED ESTATE PLANNING?

Probate in both Broward and Miami-Dade County are not simple. The courts are overcrowded as many elderly people retire and die in Florida. This leads to longer wait times for probate administrations to be completed. A simple estate plan may prevent a probate. 

DOES ESTATE PLANNING PREVENT PROBATE?

Yes, if done correctly, estate planning can prevent probate court involvement from being needed. Thus, the loved ones or adult children as we spoke about earlier, can have an easier time handling their mother’s, father’s, or loved one’s passing. With estate planning, the family deals with the assets privately. With probate court, all matters must be approved by a Judge. 

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING , TRUST ADMINISTRATION, AND MIAMI PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, Trust Administration, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with both the Miami-Dade and Broward County probate court system and know how to get things done. My unique approach to estate planning, probate, and trust administration, allows the family and loved ones to work together peacefully even in the most difficult situations. Call or email me today to discuss your Estate Planning, Wills and Trusts, Trust Administration, and Broward or Miami-Dade County Probate matters.  I am happy to help you and your loved ones.

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ESTATE PLANNING AND VOTING IN MIAMI BEACH, FLORIDA

WHAT DO VOTING IN MIAMI BEACH AND ESTATE PLANNING IN MIAMI BEACH HAVE IN COMMON?

A big voting day occurred in Miami Beach, Florida and all over the United States a couple weeks ago. People are expressing their choices and getting out to make a difference. I voted and it felt great!

Other countries are not like ours and have many more restrictions. For example, in December of 2015, Saudi Arabia lifted their ban allowing women to vote and just this year, in 2018, they are finally allowing women to get driver’s licenses. Estate planning is similar to voting, because when creating an estate plan, an individual is exercising their free will and stating their preferences.

WHAT IS ESTATE PLANNING IN MIAMI BEACH, FLORIDA?

Estate planning consists of health care documents, including a living will, a power of attorney, and a will and revocable trust. There can be more documents, but these five documents make up a basic estate plan.  In addition to these five documents, there may be other documents depending on the circumstances of each specific case.

DO I NEED TO BE A CERTAIN AGE TO DO ESTATE PLANNING?

Age is not a factor in determining whether you need estate planning or not. Young parents with real estate and assets should do estate planning, but they are usually unsure when to do it. The best time is now so you may sleep peacefully, knowing your wishes will be honored and your loved ones taken care of. Estate planning is needed when you have loved ones and assets (real estate, investments, bank accounts).  Do you have minor children, loved ones, or relatives dependent on you for financial support?  If the answer is yes, estate planning is needed to protect these loved ones. Do you have wishes regarding who gets what if you should pass away? If the answer to this is also yes, you too need estate planning.

WHAT IS THE FLORIDA INTESTACY STATUTE AND HOW DOES IT AFFECT ME?

If a will does not exist, the Florida intestacy statute takes over. In most cases, this is not as the person intended. For example, my new client wants his nieces and nephews to get his real estate and money, but his mother, who is 93 years of age, would inherit everything if he does not do his will. In this example, he will also have a revocable trust created to protect him from incapacity and the nieces and nephews from inheriting too soon.

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS, TRUST, ESTATE PLANNING AND MIAMI PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with the Miami-Dade County probate court system and know how to get things done. My unique approach to estate planning, probate, and trust administration, allows the family and loved ones to work together peacefully even in the most difficult situations. Call or email me today to discuss your Estate Planning, Wills, Trust, or Miami-Dade County probate matter.

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THE TALE OF TWO MIAMI PROBATE CASES

THE TALE OF TWO MIAMI PROBATE CASES

I have received many calls from relatives of loved ones who have recently passed away. Most of them left a house or apartment, investments, and bank accounts all in their own name.  They then hire me to open a probate case in Miami-Dade County, Florida and collect and distribute the assets either according to the will or if no will exists, then according to the Florida intestacy statutes.

 WHAT WERE MY LAST TWO PROBATE CALLS ABOUT?

My most recent calls were the most common probate situations and easy to use as examples. The first is a son who has two brothers and both of their parents passed away, one soon after the other. They did have a will so the probate court must follow the instructions in the will and equally divide the house and bank accounts among the three sons. The will also names one brother as the Personal Representative in this case. In this case, everyone gets along which makes it much easier.

In the second case, the mother passed away, her only child lives out of the country and is not familiar with the probate process and is lost and confused.

HOW COULD THE NECESSITY FOR PROBATE COURT IN MIAMI-DADE COUNTY HAVE BEEN AVOIDED?

In both cases, one with a will and one without a will, a Miami-Dade probate case is required because the loved ones passed away with assets in their own name with no designated paid on death beneficiary. For example, a payable -on- death beneficiary on a bank account would allow the person named to go and collect their money with proof of ID and a death certificate, assuming there are no complications.

If a person does not want to indicate a payable -on- death beneficiary or they cannot, in the case of real estate and other assets, the situation becomes more complicated.

WHAT ARE THE OTHER OPTIONS? WHAT IS A REVOCABLE TRUST?

Revocable trusts are a great option for people wanting to avoid probate for their loved ones after they pass away. When a revocable trust is properly funded, probate court is avoided. Getting back to our first example, after their father passed away and everything was no longer in joint name, the three sons or at least one of them could have suggested that their mother hire an estate planning and trust attorney to create a revocable trust. By doing this, the real estate, bank accounts, and investments could have all been transferred over to the trust and upon the mother’s death or disability, the assets could have been easily managed and then transferred upon her death.

In the second example above, a funded revocable trust would have listed the assets inside the trust and named the daughter as the trustee, simplifying this situation.

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS, TRUST, ESTATE PLANNING AND MIAMI PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with the Miami-Dade County probate court system and know how to get things done. Call or email me today to discuss your Estate Planning, Wills, Trust, or Miami-Dade County probate matter.

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ESTATE PLANNING PROTECTS OUR SIGNIFICANT OTHERS AND THOSE WE LOVE

ESTATE PLANNING PROTECTS OUR SIGNIFICANT OTHERS AND THOSE WE LOVE

I have been getting many calls lately from people close to a person who died, but not related by blood or marriage. They call asking me to begin a probate for them and I have to explain that even if they lived together for 35 years, they are not protected and will inherit nothing without a will or trust specifying these wishes.

HOW CAN I MAKE SURE MY LOVED ONES ARE PROTECTED?

Wills and trust can protect your loved ones. For example, the woman who lived with her boyfriend for 35 years before he died, shared a home and a life, yet everything was in his name alone. Thus, the house and bank accounts would require probate court involvement because there was no trust nor any paid on death designations. In this case, the intestacy statute will prevail and his mother would get his assets instead of his life partner. Do you think this is what he would have wanted?

By creating a will that simply states your wishes, you can prevent this situation and make sure your loved ones are protected. If your loved ones are minors or if you have real estate and investments, a trust is a better option. A trust is private and more protective and avoids probate court involvement, if funded properly.

WHY DO I WANT TO AVOID PROBATE?

Probate in Miami-Dade County is a public process which takes time and does not always protect the real loved ones of the decedent. For example, in our previously discussed case, the decedent’s mother did not want the assets and believed her son would have given them to his life partner. This can be done with wills and trusts. When there is a will, probate court involvement is still required and a probate attorney must be hired. With a trust, trust administration is easier and less expensive and does not require probate court involvement.

HOW CAN I CREATE A TRUST?

The first step to creating a trust is to hire an estate planning attorney. A good estate planning attorney can bring out the clients wishes and create documents that match those wishes. At Ally Glaser, PA, I not only create legal documents, but I also encourage the clients to write letters to their loved ones and create the way they want to be remembered. This is important and gives a personal touch to the estate plan. During this process, financial and health care decisions can be discussed and handled with care, giving the client peace of mind.

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS, TRUST, ESTATE PLANNING AND MIAMI PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with the Miami-Dade County probate court system and know how to get things done. Call or email me today to discuss your Estate Planning, Wills, Trust, or Miami-Dade County probate matter.

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ESTATE PLANNING IS MORE THAN THE DOCUMENTS

ESTATE PLANNING IS NOT ALL ABOUT THE DOCUMENTS

Estate planning allows you to state your wishes regarding your assets, your personal items, and your burial/cremation service. For example, you may prefer a mausoleum, a ground burial or a cremation. I went to a memorial service this past weekend and it was a happy, celebration of life lost to cancer way too soon. The burial in the mausoleum was family only and took place a few days before the funeral service. At the service, his favorite songs were played on a guitar and a video played happy times and memories of him living life to its fullest. At the family home after the service, his favorite music, drinks, and food were shared by all who loved him. What a nice way to celebrate a great life!

WHAT IS THE DIFFERENCE BETWEEN A WILL AND A TRUST?

 A will states burial/cremation information, mentions a list of personal items, and states who gets what in the case of death. For example, MJ wishes to leave all of her assets equally to her three grown and responsible adult children.  She can do this in a will and probate court will probably be required. Probate must be properly handled by a Miami probate attorney, takes usually a minimum of six months, and is a court process where a Judge is appointed and then decides how the assets are sold and handled.

A trust  is a private document that allows the family to hold, rent, or sell the real estate assets and hold or liquidate accounts based on the grantor’s wishes. Business ownership may also be placed in the trust. These assets may be left to minor children with instructions for a trustee to maintain the trust until those children are old enough to manage or may be given outright if loved ones are over 18 and responsible. For example, MJ wishes to leave her assets to her three minor children for health, maintenance, and welfare while they are young. The trust can also state that the children receive the money and assets half at the age of twenty-five and half at the age of thirty-five, for example; allowing them two opportunities to inherit. The business and real estate rentals can all be managed and kept within the trust entity for safekeeping until the children reach these chosen ages.

A trust is also protective in the case of incapacity, where the assets can be held and managed by the successor trustee and the need for a guardianship is avoided.

A trust is different than a will because ownership can be held by a trust. For example, one trust can own many real estate properties even if they are in different states, a business, bank accounts, and investment accounts. A will cannot own property and if MJ, for example, dies with real estate, bank accounts, or businesses in her name alone, then probate court will definitely be required to pass on or transfer these items to her loved ones. Thus, a trust is usually recommended for people with assets and loved ones.

WHY SHOULD YOU USE ALLY GLASER, PA TO HANDLE YOUR WILLS, TRUST, ESTATE PLANNING AND MIAMI PROBATE MATTERS?

As a Miami Beach, Florida, Estate Planning, Wills and Trusts, and Probate Attorney, I have over twenty years of experience and handle these matters with care. I am familiar and comfortable with the Miami-Dade County probate court system and know how to get things done. Call or email me today to discuss your Estate Planning, Wills, Trust, or Miami-Dade County probate matter.