J. Kelly Kennedy, Attorney/CPA, PLLC

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August 2015 Archives

Children and inheritance laws

When people pass away, they cannot take their possessions with them. Instead, they can assign who will inherit the possessions by creating an estate plan. Usually, people want their loved ones and family members to benefit from the wealth that they have built up during their lifetimes. Through a will or trust, people can give away their property.

Lack of estate planning can cause difficulties for heirs

Dealing with the loss of a loved one is not an easy process, even when the person's death was not unexpected. It takes time for surviving family and friends to grieve the loss and to pick up the pieces of their own lives.. This process can become even more difficult to handle when the deceased person did not have all of his or her financial affairs in order prior to his or her death. Specifically, if the person had no estate plan, sorting through his or her assets and liabilities can be a cumbersome task.

Untimely death raises interesting will and estate questions

Music fans in Polk County likely remember singer Whitney Houston's soaring and emotionally-charged voice. Although she died a few years ago, her remarkable singing legacy lives on. Recently, her fans were reminded of the sadness of Houston's abrupt death through the tragic death of her only daughter, Bobbi Kristina Brown, who was just 22-years-old.

When does a living trust make sense?

People in Winter Haven and Lakeland who have read this blog before may know something about trusts. A trust is a legal instrument that allows people to control their assets based on any particular concerns or circumstances in their lives. For example, people may put some of their assets in a trust for the benefit of their children. Through the trust instrument, the person can then set rules on trust administration and how the trustee will distribute the assets to the child.