Can the provisions of a disability trust be updated?
Yes, the special needs trust can be updated as long as the trust document allows for the trust to be decanted. However, the updated trust must be for the sole benefit of the same beneficiary as the old trust. Updating Your D4A Trust A first-party special needs trust is created for the sole benefit of the […]
Does a special needs trust need to be approved by the SSA?
Yes, your special needs trust must be approved by the Social Security Administration if you receive supplemental security income. Why does my special needs trust have to be approved? Special needs trusts are a way to qualify for government benefits when you have too many assets or too much income. Everything in the trust is […]
Can a notary be a witness to a will in Florida?
Yes, a notary can witness a will in Florida. However, the notary cannot both witness and notarize the same will. Who can witness a will in Florida? Florida allows anyone to be a witness as long as the person is “competent to be a witness.” The statute imposes no age requirements, residency requirements, or job […]
Are a decedent’s ashes part of the probate estate?
No, cremated remains are not part of the probate estate in Florida. In section 497.607 of the Florida Statutes, it is established that cremated remains are not “property” as defined in section 731.201(32) of the Florida statutes. This means that a decedent’s ashes are not “real and personal property or any interest in it and […]
Does a will need to be notarized in Florida?
No, a will is not required to be notarized in Florida. However, it is almost always advisable to include a self-proving affidavit in your will, which does require notarization. This is why most wills are notarized even though the law does not require it. What are the requirements of a will in Florida? A Florida […]
What is the Difference Between a Will and an Estate Plan?
Your last will and testament is one document regarding your death, whereas an estate plan is a collection of documents regarding your death or incapacity. One of the documents included in an estate plan is a last will and testament. An estate plan is a way for you to plan for your own death or […]
Can your personal representative be the same person as your trustee?
Yes, you can name the same person to be both the personal representative of your estate and the trustee of any trusts you create. What is the difference between a personal representative and a trustee? The main difference between a personal representative and a trustee is that the personal representative manages the estate while the […]
Why Every Will Needs a Residuary Clause
What is a residuary estate? The residuary estate is all property not specifically left to someone in a last will and testament. In other words, it is a “catch all” term for everything left over in an estate after all the specific gifts have all been made and all the debts and expenses have been […]
Can a personal representative also be a beneficiary of your will?
Yes, you may name one of the beneficiaries of your will to also be your personal representative. In fact, this is commonplace. Who can serve as personal representative? In order for an individual to be appointed as a personal representative in Florida, that individual must be (1) at least 18 years old, (2) mentally and […]
What is a declaration of trust?
A declaration of trust is the instrument that creates a trust. It is also commonly called a “trust document.” Is a declaration of trust a trust? Yes, practically speaking, the declaration of trust is commonly just called “the trust.” But technically, a trust is an intangible legal fiction. A “declaration of trust” is the document […]