If you have ever thought about estate planning before, you are not strange to the terms “will” and “trust.” However, not everyone understands the key differences between such valuable estate planning tools. Despite their similarities,…
A revocable trust is a trust wherein the settlor or grantor (person who set up the trust) can change, amend, or revoke the legal arrangement at any given time. Therefore, as long as the trustor…
When a Florida resident dies owning property titled solely in his/her name, the decedent’s will must be filed with the probate court. Upon receipt of the will, the court must verify the document’s validity and…
A trust is a legal arrangement wherein a settlor (or grantor) transfers the title of property to a trustee for the benefit of designated beneficiaries. This arrangement is based on the instructions outlined in the…
Generally, Florida law precludes stepchildren from having an automatic interest in their parents’ property upon death, hence affecting the legal right of stepchildren to inheritance. If the decedent died, a will that expressly directed a…
Depending on how a trust is structured, the trustor may have the authority to modify the arrangement, such as removing or adding new beneficiaries, changing the share of interest of a beneficiary, or altering the…
A limited liability company (LLC) is a business structure where the owners (also referred to as “members”) are not personally liable for the company’s obligations or debts. Instead, each member is limited to the amount…
A limited liability company (LLC) is a hybrid business structure that reunites the limited liability aspect of corporations with the flexibility of partnerships. At a glance, it is not hard to identify why it is…
