J. Kelly Kennedy, Attorney/CPA, PLLC

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August 2017 Archives

What happens if I die without a will in Florida?

If you are contemplating estate planning and the importance of estate planning, you may wonder what happens in Florida if you die without a will. Each state has what are referred to intestacy laws which govern intestate succession if an individual passes away without a will. Intestacy laws determine inheritance rights if an individual dies without a will.

What is the probate process?

Probate is a common term. However, what it entails may not be as commonly understood. Loved ones facing the loss of a family member may wonder what the probate process involves. In general, the probate process is a court-supervised process that gathers assets, pays debts and distributes assets to beneficiaries when an individual passes. In Florida, there are different types of probate administration, including summary administration and formal administration.

No virtual wills in Florida for now

Important technical requirements must be followed for a will to be valid. While technology is progressing forward, and the legal professional is working hard to respond and keep up with the changes, the requirements for a will to be valid may be one area not quite ready for technological advancement. The legal profession has kept pace with technological changes affecting it, such as through online estate planning services and electronic signature and filing options for legal documents. However, at least, for now, technological advancement do not seem to be coming to will execution.

Trusts are an important part of estate planning

A trust can be a useful part of a Florida estate plan. Trusts may sometimes seem intimidating, but they have several beneficial uses, including reducing estate taxes, protecting assets from creditors and the management of estate assets. And, while trusts are normally associated with wealthy individuals, trusts can be a helpful component of any estate plan.

The business of choosing the right entity for your business

Starting a business in Florida is an exciting time, but there is much more involved than simply choosing a name and starting to sell products or services. One of the very first and most important steps is deciding which business entity is right for your company based on the nature of your business.