HOW OLD SHOULD I BE TO DO ESTATE PLANNING?
On October 31st, Halloween night, a mother and her two young children under the age of eight, lost their father and love when he was killed in a terrible accident while riding a scooter on his way to meet his family at a nearby Halloween pizza party. He was in his thirties and never expected to die that day; he had no estate planning, no will, no trust, no letters nor instructions.
WHAT HAPPENS NOW?
I was called and asked this question the very next day. Sadly, I did not have happy answers. Because they were not legally married and no estate planning had been done, his longtime girlfriend and mother of his two kids get nothing unless it was planned ahead as in the case of a paid-on death beneficiary listed on a bank account, 401k, investment account, etc. If he left assets in his own name with no beneficiary, an attorney is retained and a probate administration begins with the children being the only beneficiaries and two required guardianships as the beneficiaries. There are so many better ways to protect these children.
IS ESTATE PLANNING IN MIAMI BEACH, FL ENOUGH TO PREVENT A PROBATE AND GUARDIANSHIP MESS IN MIAMI DADE OR BROWARD COUNTY?
Yes, estate planning is enough to prevent this mess if done properly. I have many clients who are not married and live together and they are protected through proper estate planning. Also, when a trust is done properly there are provisions for minor young children and they are protected as well; preventing the need for an expensive and unnecessary court ordered guardianship. The law allows for a minor to receive $15,000 or less, anything more than that requires a guardianship to be set up by an attorney.
HOW DOES PROBATE ADMINISTRATION IN MIAMI WORK?
Probate administration is a difficult process to go through for the loved ones left behind. The first step is to hire a probate attorney. If a properly signed will exists, the will can be presented by the attorney and if admitted, it is followed. If there is no will or the will cannot be found, then it is considered an intestate (no will) probate and a bit more complicated as the heirs have to be proven.
SHOULD I HIRE A PROBATE OR ESTATE PLANNING ATTORNEY?
Hiring the right probate attorney in Miami is very important as there are many specific rules that only apply in probate court. Ally M. Glaser is a probate and estate planning attorney in Miami Beach, Florida and has been practicing law for over 20 years. Ally uses both her psychology and law degree to help her clients with the experience and sensitivity that they deserve. Call or email today to get started with your Miami Beach Estate Planning or Probate Administration cases.