J. Kelly Kennedy, Attorney/CPA, PLLC

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September 2014 Archives

Strategies for trust administration to avoid and settle disputes

A common concern for people in Florida is trust administration after they pass away. For people with a vast portfolio, the distribution of assets can be a major worry. Various strategies are used to try and have a handle on how the beneficiaries will receive their pieces of the estate. Using a tactic known as an incentive trust is something that is worthy of consideration if there is the possibility of disputes between the heirs and trustees.

What are viable reasons for a will contest?

People in Florida are frequently concerned about their will and how the will, will be handled after they're gone. In some instances, the family that was left behind has issues with the way the assets were allocated by the decedent. In situations such as this, there is consideration given to a will contest. There are many factors that go into the decision as to whether or not to contest a will and they must be considered before moving forward.

Estrangement a frequent dispute in dividing an estate

A frequent and unfortunate situation that arises when dealing with a will is when the decedent chooses to remove a family member from the list entirely. In this type of scenario, the estate and assets are to be divided among the family members who the decedent wanted to receive them. There are various issues that arise in this kind of circumstance and they must be understood by both the person writing the will and those who stand to gain or lose because of it.

How can family disputes be avoided when there are two families?

For people in Florida, estate planning can be a complex issue. If there are significant assets, the asset distribution of the decedent might have various factors tied into it. Making an estate plan is usually the way to avoid any family disputes after the person's death, but if there is a second family that has been involved, there will often be ill will between the sides if the estate planning is not how the families envisioned. Certain factors must be considered and accounted for to avoid unpleasantness and litigation.