Fl Estate Individual Application With Trustee

State:
Florida
Control #:
FL-032-78
Format:
Word; 
Rich Text
Instant download

Description

The FL estate individual application with trustee enables property owners in Florida to create an enhanced life estate deed, often referred to as a 'Lady Bird Deed.' This document allows grantors to convey property to one or more grantees while retaining certain rights, such as the ability to sell or modify the property during their lifetime. Users can complete the form electronically using Microsoft Word or Adobe Acrobat, or print it to fill out by hand. Key features include options for holding property as Tenants in Common, Joint Tenants with Right of Survivorship, or Tenants by the Entirety, reflecting various ownership arrangements. This form is particularly useful for attorneys, partners, and legal assistants involved in estate planning, as it facilitates transferring property while minimizing probate issues. It also serves owners looking to manage their estate effectively and associates handling real estate transactions. Proper instruction on filling the form and the implications of property ownership arrangements is crucial for effective use. The disclaimer emphasizes the importance of consulting with legal professionals to ensure the document meets specific needs and complies with Florida laws.
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  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife
  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife
  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife
  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife
  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife
  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife
  • Preview Enhanced Life Estate or Lady Bird Deed - Individual to Two Individuals / Husband and Wife

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FAQ

Hear this out loud PauseFormal administration is required for any estate with non-exempt assets valued at over $75,000 when a decedent died less than two years ago. Formal administration is also required any time that a personal representative is needed to settle the affairs of the decedent.

Hear this out loud PauseIf you have a trust and funded it with most of your assets during your lifetime, your successor Trustee will have comparatively more power than your Executor. ?Attorney-in-Fact,? ?Executor? and ?Trustee? are designations for distinct roles in the estate planning process, each with specific powers and limitations.

The role of a trustee is different than the role of an estate executor. An executor manages a deceased person's estate to distribute his or her assets ing to the will. A trustee, on the other hand, is responsible for administering a trust. What Is The Difference Between Executor, Trustee & Guardian? Surprenant & Beneski, PC ? estate-planning Surprenant & Beneski, PC ? estate-planning

Hear this out loud PauseWhether or not the trustee can withhold funds from you depends on the terms of the trust itself. If the trust requires withholding distributions under certain circumstances, such as the beneficiary reaching a specific age, the trustee must follow those stipulations.

(A side note before I go further: trustee and executor are two different jobs, and each has its own duties and requirements. However, most people have no idea what the difference is, and have trouble keeping track of who is in charge of what. I generally advise clients to name the same person for both.

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Fl Estate Individual Application With Trustee