PTM Legal

Using Joint Accounts and Beneficiary Designations in Florida to Avoid Probate

Closeup image of judge gavel and word PROBATE.

An easy way to avoid probate on bank accounts in Florida is to use Transfer on Death (TOD) and Payable on Death (POD) designations. Alternatively, joint account ownership is often used for this same purpose. All of these designations create automatic transfers upon death for bank accounts. Using these strategies not only simplifies the transfer […]

Estate Planning for Timeshare Owners

Understanding Timeshare Ownership To engage in any timeshare estate planning, you first must understand the different ways that a timeshare can be owned. There are two different kinds of timeshare ownership: contract and deeded. A contract grants the owner use of the property for specific periods of time periods or grants the owner a certain […]

Trustee Defense Q&A

Law and justice concept.

Serving as a Trustee of a trust comes with significant responsibilities, including managing and administering assets that can range from a few thousand dollars to several million. In addition to overseeing these assets, Trustees must navigate a complex body of law that governs their powers and duties. Despite the weight of these obligations, many Trustees […]

11 Pitfalls of Prenups in Florida

11 Pitfalls of Prenups in Florida

Prior to getting married, all couples should consider a premarital agreement (commonly known as a “prenup”) regardless of who they are, how long the couple has known each other, or their financial status. This process can strengthen a couple by tackling a taboo topic centered around one of the leading causes for divorce: money. Premarital […]

How to Access a Deceased Person’s Safe Deposit Box (Florida Attorney Explains)

How to Access a Deceased Person’s Safe Deposit Box (Florida Attorney Explains)

Many people rent safe deposit boxes to store important and/or valuable items or documents. But what happens to that safe deposit box (and its contents) once the lessee (i.e., the person who rented the box) has passed away? After the initial grief associated with losing a loved one, it is expected that those close to […]

Fla. Stat. § 736.0202 – Commentary to Florida Trust Code

Legal Commentary on Fla. Stat. § 736.0202 Fla. Stat. § 736.0202 establishes the jurisdiction that the Florida courts have over various parties in a trust matter. Fla. Stat. § 736.0202(1) states that a court has in rem jurisdiction over anyone who is a trust beneficiary of a trust which has its principal place of administration […]

Fla. Stat. § 736.0602 – Commentary to Florida Trust Code

Legal Commentary on Fla. Stat. § 736.0602 Fla. Stat. § 736.0602 establishes when, how, and to what extent a trust settlor may revoke or amend a trust. The statute section also explains the effect of such an action. Importantly, any part of Fla. Stat. § 736.0602 may be overridden by a trust’s terms; there is […]

Fla. Stat. § 736.0303 – Commentary to Florida Trust Code

Legal Commentary on Fla. Stat. § 736.0303 Fla. Stat. § 736.0303 establishes five situations in which a trust representation may occur, but only to the extent that no relevant conflict of interest exists between the representative and the represented. First, a guardian of the property can represent and bind a guardianship estate. Notably, this power […]

Fla. Stat. § 736.0304 – Commentary to Florida Trust Code

Legal Commentary on Fla. Stat. § 736.0304 Fla. Stat. § 736.0304 provides that a person with a “substantially identical interest” may represent certain individuals, unless that individual is already represented. This is an extension of virtual representation, a res judicata doctrine which applies “only when the respective interests are closely aligned and the party . […]