We’re living through the largest inter-generational wealth transfer in history. Much of that wealth will end up in someone’s trust. Not surprisingly, the jurisdictional competition among U.S. states to capture as much of that trust business as possible
Ever wonder why lawsuits against trustees name them as defendants both in their representative capacities as trustees and individually? The reason for that dual designation is usually because the claim seeks some kind of money judgment against the trustee, be
As practitioners we use heuristics—mental shortcuts or “rules of thumb”—all the time to navigate complex, uncertain, and time-sensitive legal challenges. These cognitive shortcuts usually serve us well, especially as we have more professional experience to draw upon. But sometimes those
“[P]ost mortem squabblings and contests on mental condition . . . have made a will the least secure of all human dealings, and made it doubtful whether in some regions insanity is not accepted as the normal condition of testators.”
Creditor claims against an estate must be paid to the extent allowed by the resources of each estate. But what happens when a creditor’s claim arises from the malfeasance of the personal representative? F.S. 733.609(1) tells us a personal representative
Not all payment demands against a probate estate are created equal. Some are subject to the filing deadlines applicable to probate creditor claims under F.S. 733.702 and F.S. 733.710. Many are not. Why does this matter? Because Florida’s ultra-short
If you’re a trustee, you can’t just quit and walk away leaving your former trust to fend for itself. Until a successor trustee’s appointed to replace you, F.S. 736.0707 tells us you remain duty-bound to pay all trust-related “debts, expenses,
It used to be so simple. Back in the day trust lawyers had to contend with only three possible players: settlors, trustees and beneficiaries. Today that trio’s often joined by a new creature we’re still not exactly sure what to
“Wills are uncanny and electric documents. They lie dormant for years and then spring to life when their author dies, as if death were rain. Their effect on those they enrich is never negligible, and sometimes unexpectedly charged. They thrust
Increasing numbers of people have connections with one country, but live and work in another, frequently owning property or investments in several countries. This is especially true in Florida, which continues its reign as the top destination for international home