Who Gets to Keep Assets in Online Accounts?
Ever wonder where the money in your cash apps or PayPal account goes upon your death? In Florida, when a person passes away intestate, all known assets are accounted for by the Personal Representative of the estate. So how would a person administering an estate ever know about your PayPal account that stored $15,000 from all your eBay auctions? Most of the time, no one would know such account even exists. If you have cash stored in online accounts, or even points accumulated
Former Spouses are Cut Out of Assets
Effective July 1, 2012, a former spouse of a decedent is automatically cut out of non-probate assets which include life insurance policies, annuities, employee benefit plans, payable on death accounts, individual retirement accounts, transfer on death accounts and securities, according to the language of a recent statute change. What does this mean for a divorcee? Even if your deceased ex-husband/wife intended for you to be a beneficiary on his or her life insurance policy po
Rights of a Surviving Spouse
As a surviving spouse, it is important to know your rights, since oftentimes the probate process may seem confusing. If your deceased spouse passes with a will, in which he or she devised his or her property to anyone other than you, you still have rights to the property. Under Florida law, as a surviving spouse, you may be entitled to 30% of the estate, even though you are omitted from your spouses will. This is called an elective share. If your deceased spouse did not leave
Estate Planning for College Students
As high school graduates are preparing for college, there is one thing they should add on their to-do list…..estate planning. As a parent you might be thinking, my 18 year old has no assets, but there is more to estate planning than you may think. If your child is going away for college there are a few things you might want to keep in mind. If you are actively involved in your child’s finances, such as paying for tuition, housing or anything else, you will not have access to