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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 […]

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 . […]

Fla. Stat. § 736.0305 – Commentary to Florida Trust Code

Fla. Stat. § 736.0305 – Commentary to Florida Trust Code Jul 10  Written By Blakely Moore Legal Commentary on Fla. Stat. § 736.0305 Fla. Stat. § 736.0305 establishes that a court may appoint a representative for minors, incapacitated persons, unborn persons, unidentifiable persons, and unlocatable persons. This is the same group to which virtual representation is […]

Fla. Stat. § 736.0306 – Commentary to Florida Trust Code

Legal Commentary on Fla. Stat. § 736.0306 Fla. Stat. § 736.0306 establishes when and how a trust instrument may designate representatives for trust beneficiaries. This statute section is mandatory under Fla. Stat. § 736.0105(2)(h) and thus cannot be overridden by the terms of a trust. Generally, a trust instrument may designate a representative for a […]