J. Kelly Kennedy, Attorney/CPA, PLLC

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November 2015 Archives

Alert trustee probes footballer's distribution of assets

Football fans in the Winter Haven and Lakeland area may recognize the name Charlie Sanders. He played for the Detroit Lions until 1977, and his stellar professional career earned him a spot in the National Football League's prestigious Hall of Fame. But even for people who know nothing about Sanders, a recent story involving his estate has brought up some interesting issues involving the distribution of assets and trust administration.

What does an estate administrator in Polk County do?

People in the Polk County area who have given any thought to their assets and the future of their estate likely understand that estate planning is a process that requires appropriate legal instruments and proper documentation. While many people may understand the general concepts behind estate planning and administration, they may not be so well-versed when it comes to the more particular aspects of the legal process. For example, what role does the estate administrator play in estate administration, and what are their legal duties?

A valid will can save everyone time and money

Preparing a will is probably not something that most people think about on a daily basis. Even people who have substantial assets are likely more consumed with living everyday life than with preparing for what will happen after their death. Unfortunately, however, nobody has a crystal ball and can say with certainty when their life will end. Hence, it is rarely too early for a person to start planning ahead when it comes to their estate. They can always amend their will down the road as life circumstances change.

Estate planning should include making modifications

There are many reasons why Winter Haven residents prepare estate plans. Estate plans provide instructions for the distribution of one's assets after one's death and can also help provide financial support for friends and family members who the decedent desires to recognize after his death. Estate plans can help individuals preserve their wealth from burdensome taxes and can help streamline the administration process for wrapping up a decedent's estate.