ESTATE PLANNING IN MIAMI BEACH, FLORIDA, PROBATE NIGHTMARE PART 2
In a past Blog, I wrote about a sweet married couple on their second marriage with separate assets. The husband had no children and left everything to his wife. What could possibly go wrong?
WHAT COULD POSSIBLY GO WRONG IN PROBATE COURT?
Probate court is guided by a set of rules and statutes. The banks and institutions are also guided by a set of rules, procedures, and regulations. Thus, between the banks, investment companies, and the courts, many probate problems arise.
DO YOU WANT TO HEAR MORE ABOUT THE PROBATE NIGHTMARE?
The first probate problem was there was a trust that was not funded. That means the trust was created by an attorney, yet remained empty. An empty trust is useless. I solved this problem by having the wife, the successor trustee and personal representative, revoke the trust.
The second problem was New York State banks required a New York ancillary probate in that state too. Unfortunately, the wife has to pay attorneys in New York and Florida. Both sets of attorneys have to prove there were no taxes owed in each state and jump through many hurdles.
The third probate problem is New York city has extreme probate delays. Sadly, this means the sweet wife has to wait over a year to get her loving husband’s money and is still waiting.
HOW CAN THESE PROBATE NIGHTMARES BE PREVENTED?
These probate nightmares and many others can be prevented with a properly funded revocable trust. Once the trust is created by a Miami Beach estate planning attorney and signed by the client, all assets in the client’s name alone without paid on death beneficiaries gets moved into the trust, now during their life. Waiting to fund a trust at death triggers the necessity of probate court.
WHY SHOULD I 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-seven 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. I handle both estate planning and probate cases, thus, 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.