The Purdy Firm Blog
The Purdy Firm Blog
Should You Take Out Life Insurance for Your Child?
As parents, we want to ensure the financial security and well-being of our children, even in the face of unexpected events. One way to provide this protection is through child life insurance policies. These specialized insurance products cover the...
Charitable Remainder Trust: A Guide to Smart Giving
Charitable giving has long been a cherished American tradition, with over $400 billion donated annually. In fact, total charitable giving has grown 83% over the past two decades when adjusted for inflation. Americans are immensely generous, both...
How to Look up a Will in Probate | Simple Guide
When a loved one passes away, understanding the probate process and accessing their last will and testament can be crucial for those left behind. Wills, which outline a person's wishes for their assets after death, are typically filed with the...
Estate Planning for Blended Families in Florida
Modern family dynamics can pose an incredible challenge to conventional estate planning strategies. In the not-so-distant past, blended families were a relative rarity. Today, however, millions of American children live with re-married parents and...
Estate Planning Mistakes: Top 10 to Avoid
Estate planning mistakes can upend your best efforts to protect your family's finances after your death. Everyone can benefit from learning the basics of estate planning, a process that entails getting your financial affairs in order so that your...
Charitable Giving in Estate Planning in Florida
A well-considered estate plan can establish a long-lasting legacy. For many Floridians, this means bequeathing gifts to children, friends, and family. However, estate assets can also be leveraged for the greater good, used to uplift communities and...
Beneficiary Designations in Florida: Why They Matter
Beneficiary designations are a crucial aspect of estate planning in Florida. They allow us to specify who will receive the funds in our accounts after we pass away, bypassing the probate process. By naming beneficiaries, we can ensure our assets...
Choosing Guardians for Minor Children in Florida
Selecting a guardian for minor children in Florida is a crucial decision that requires careful consideration. In this article, we will guide you through the legal process, requirements, and important factors to consider when choosing a guardian for...
No Probate Filed in Florida: What Happens Next?
Did you know that 55% of Americans don't have a will or estate plan? If you're in Florida without one, you might wonder, "What happens if no probate is filed in Florida?" Knowing this is key, as it affects your family's legal and financial...
Heir vs Beneficiary: Understanding the Difference
At first glance, the terms "heir" and "beneficiary" might seem the same. But in estate planning, they have different meanings. An heir gets property if there's no Will or Trust. On the other hand, a beneficiary gets assets from a Will or Trust.It's...
Minimize Estate Taxes in Florida: Expert Tips
As estate planning experts in Florida, we understand the importance of minimizing estate taxes to ensure your hard-earned assets are passed on to your loved ones. At The Purdy Firm, a Tier 1 law firm in Florida according to U.S. News and World...
Generation Skipping Trust
A Generation-Skipping Trust (GST) in Florida is a smart way to pass down your wealth directly to your grandchildren or other beneficiaries, skipping over your children to potentially avoid hefty taxes. This trust not only helps in preserving your...
Setting Up a Trust Fund in Florida: A Guide
Setting up a trust fund in Florida makes it easy to pass on your assets to loved ones after you're gone. With help from skilled estate planning lawyers, creating a trust here is simple. You'll decide on the trust type, pick the assets to add, name...
Can a Trustee Also Be a Beneficiary? Legal Insights.
Exploring trust law brings us to a key question: can a trustee also be a beneficiary? This question highlights the complex relationship between these two roles. It's important for estate planning and managing assets. Trusts are key in making sure...
Florida Probate: Do All Wills Go Through the Process?
A valid will is key in estate planning. It lets you decide who gets your assets after you pass away. But, it doesn't mean you can skip probate in Florida. Probate is the process where your estate is handled, debts are paid, and your assets go to...
how to revoke a power of attorney in Florida
Revoking a Power of Attorney (POA) in Florida is a straightforward process that allows you to regain control over your decisions. A POA is a legal document that gives someone else the authority to make decisions on your behalf, whether for...
Understanding Successor Trustee Compensation in Florida
When a loved one passes away and leaves behind a trust in Florida, a common question arises: Does a successor trustee get paid in Florida? The answer is yes, but it can vary based on several factors. Successor trustees play a vital role in managing...
Probate Fees in Florida: All You Need To Know
Understanding how much probate costs in Florida is vital when managing an estate. Probate is the legal process of settling a deceased person's affairs, which can include distributing assets and paying debts. The costs can vary widely, typically...
How to Contest a Will in Florida: Evidence Needed
Contesting a will in Florida requires specific evidence to support your claim. If you believe a will is invalid, gathering proper documentation and testimony is crucial to your case. In Florida, you must prove your grounds for contesting the will...
How to Create a Living Trust in Florida: A Guide
Creating a living trust in Florida is a smart way to manage your assets and protect your family's future. A living trust is a legal document that holds your property and specifies how it should be distributed after your death. In the Sunshine...
Special Needs Estate Planning in Florida | Expert Help
We know how vital special needs estate planning is in Florida. It's key for families with members who have disabilities. We aim to make this complex process easy and confident for you.Special needs estate planning aims to secure a future for people...
What Is a Joint Trust? Understanding This Estate Planning Tool
Estate planning can be complex, but joint trusts make it simpler for couples. They are a valuable tool for managing assets and making wealth transfer easier. A joint trust is a trust agreement made by two people, often spouses, to hold their shared...
Executor of Estate Role in Florida: Key Duties
In Florida, a shocking 59% of adults don't have a will. This fact shows how vital the role of executors is. We're going to look at the key duties and responsibilities of being an executor in Florida.Florida calls executors "Personal...
Living Will vs Power of Attorney: Key Differences
We often talk about living wills and powers of attorney when planning for the end of life. These important documents protect our interests when we can't speak for ourselves. Let's look at the main differences between a living will and a power of...
Creating Wills in Florida: Essential Guide.
In Florida, you must be at least 18 years old or an emancipated minor to make a will. This rule makes sure your wishes are followed after you pass away. A will lets you decide how to share your assets, who gets them, and who takes care of your kids...
Understanding General Power of Attorney in Florida.
A General Power of Attorney in Florida lets someone, called the agent, make choices and act for another person, the principal. This gives the agent a wide range of powers. They can handle money matters, sell property, and even set up trusts. Since...
Florida Probate Process: Your Essential Guide.
Did you know the longest probate case in Florida lasted nine years and involved 27 beneficiaries? Navigating the probate process in Florida can be complex. But, with the right guidance, it doesn't have to be overwhelming. Understanding the probate...
Florida Wills: Must All Go Through Probate?
In Florida, all original wills must be filed with the court within ten days after the person has died. This rule shows how careful Florida's probate laws are. They make sure assets are shared fairly and estates are handled correctly. The probate...
What is Better in Florida? A Will or a Trust?
When planning your estate in Florida, one of the most important decisions you'll make is whether to use a will or a trust. Both options have their own advantages and considerations, and understanding these can help you make an informed choice that...
How to Avoid Probate in Florida
Probate in Florida is the legal process of settling a deceased person's estate, which many Floridians want to avoid due to its time-consuming and costly nature. In the Sunshine State, probate can be particularly complex, with specific laws and...
Guardianship vs Power of Attorney in Florida.
Have you ever thought about what happens if a durable power of attorney isn't enough in Florida? In a perfect world, estate planning tools like powers of attorney would cover everything. But sometimes, a guardianship is needed, even with these...
Ultimate Guide to Florida Probate: Estate Process
Welcome to the ultimate guide on the probate process in Florida. Probate is the legal procedure for settling a deceased person's estate, and in the Sunshine State, it can be complex and time-consuming. Whether you're an executor, beneficiary, or...
Ultimate Guide to Estate Planning in Florida
Estate planning in Florida is the process of arranging how your assets will be managed and distributed after your death. It ensures that your wishes are honored, reduces taxes, and helps avoid legal complications. In Florida, specific laws make...
