Many people draft a will to protect and provide for their loved ones and dependents. They hope that after they pass, all of their surviving loved ones are satisfied with their respective allotments. 

In some situations, though, the deceased may have been aware of family dynamics that would suggest one or more parties may challenge terms of the will they deem unfavorable. To prevent this, many people ask for a “no-contest clause” to be added to their wills and trusts.

If your loved one established a no-contest clause in their will and you believe there is a reason to contest the will or the clause, an estate planning attorney in Daytona Beach can help you learn more about your legal options.

No-Contest Clauses in Florida

A no-contest clause is a provision that prevents a beneficiary from inheriting anything if they challenge the will and lose. These clauses have been part of estate law, in some form or fashion, for centuries. They can be an attractive way for individuals to ensure that their financial wishes are followed after they pass.

The intent behind a no-contest clause is to protect the wishes of the deceased and to discourage will challenges from unsatisfied relations who burden probate courts with frivolous cases. 

Will challenges can also be a waste of money, as the cost of the defense against the challenge may come from the estate itself, further reducing the amount beneficiaries receive.

Can My Daytona Beach Attorneys Create a No-Contest Clause for My Will?

Although your estate planning attorney may include a no-contest clause in your will, if you’re a Florida resident when you die, that part of the document will likely be invalidated by Florida probate courts. 

The Florida Supreme Court determined that no-contest clauses may be inherently unfair — especially if a beneficiary has good reason to believe that their loved one was not of sound mind when the will was created or that they were a victim of undue influence by another party.

Florida law states that any provision in a will that is intended to penalize any interested party for filing a will dispute is unenforceable. Furthermore, Florida law views trusts in the same manner.

Why Would Someone Include a No-Contest Clause If These Clauses Are Invalid in Florida?

Although Florida laws invalidate no-contest clauses in wills and trusts, that doesn’t mean that the clauses are no longer used. There are a few reasons these clauses are included in estate planning documents.

First, the deceased may have drafted the will while living in another state and later moved to Florida without updating their estate plan. 

A will is executed in the probate courts of the state where the person legally resided when they died. So your loved one may have planned their will in a state with enforceable no-contest clauses, but since they died in Florida, the clause is no longer valid.

Alternatively, perhaps the deceased knew that a no-contest clause would be unenforceable in Florida but was banking on the beneficiaries being ignorant of Florida probate laws. Or, perhaps the individual hoped the clause would serve as a deterrent.

Whatever the reason for the inclusion of a no-contest clause in a will, if you believe that there was a problem with your loved one’s will or that you didn’t receive your appropriate share of assets, consult with Daytona Beach attorneys experienced in estate planning.

Contrary to popular belief, drafting a comprehensive will isn’t something that’s reserved for the very wealthy or those with extensive assets. Instead, everyone can and should have a detailed will. Not only does this document expressly relay your final wishes, but you’ll get the peace of mind that your loved ones are protected (financially and otherwise) upon your passing.

That stated, there’s still a great deal of confusion and even consternation about the process of creating a legally-binding will. The good news is that getting to the bottom line and securing your will is a simple and straight-forward process. Use these tips to get started:

1) Establish Asset Distribution

Do you have several minor children and/or dependents? Are there specific instructions you’d like followed for the distribution of your property upon your death? Perhaps there are certain gifts and donations you’d like allocated. All of these scenarios and more are efficiently satisfied through your will.

In addition, wills help avoid legal challenges surrounding the diffusion of wealth, tangible belongings, and real property to individuals you hadn’t intended to provide with such possessions. The first step is to partner with a trusted and reputable Daytona Beach wills lawyer. This professional can help you navigate the sometimes complex nature of wills and estate planning.

2) Clear Up Confusion

In the wake of unexpected death, misunderstandings and bewilderment often run rampant. Without a detailed will, the stage is set for friends and relatives with whom you may have had little to no contact during your lifetime to virtually crawl out from the woodwork, trying to stake claim to the assets for which you’ve worked so hard.

However, when you create a detailed will, your final wishes are always explicitly outlined. As life changes, it’s simple and straight-forward to update this integral document. Common revisions include:

• the birth or death of a loved one
• disability or incapacitation
• changes in financial forecast
• retirement or starting a new job
• divorce or permanent separation

3) Guardianship Considerations

If you have minor children, have you considered who’ll care for them in the event of your untimely demise? Without a named guardian, your youthful loved ones could end up as wards of the state. This could drastically alter the course of their entire lives. In addition, not naming a guardian leaves it up to chance whether your minor children will be raised in the faith, political, and philosophical traditions you intend.

It’s nice to know that you have access to a friendly and knowledgeable advocate well-versed with guardianship in Volusia County. Here, you’ll glean valuable essentials to ensure the long-term safety and well-being of your minor dependents.

4) Probate Avoidance  

Some people think they can simply tell family members their final wishes and call it a day. The problem with that theory is that verbal instructions are open to interpretation and aren’t legally binding. Further, not leaving a detailed will opens the doors for probate proceedings.

Here, you’re also leaving yourself open to intestate succession laws. Varying by state, such laws could allow relatives to claim stake to all or part of your assets. This could run directly counter to your intentions. In addition, you might be unwillingly turning all or part of your estate over to government entities. Avoid that headache (and the stress it would cause for your loved ones) by reaching out to a Daytona Beach wills lawyer who can help you secure a thorough will.

5) Peace of Mind

Contemplating worst-case scenarios can be stressful and even overwhelming. No one wants to face their own mortality and the prospect of leaving loved ones behind. However, it’s important to remember that tomorrow isn’t a promise, and circumstances can change at any time. That’s why you need a reliable estate planning attorney in Daytona Beach who can help ensure the safety and security of your loved ones.

For over four decades, we’ve provided faithful legal advice and advocacy to countless Central Florida residents just like you. Along with estate planning and guardianship, we’re well known and well respected as a premier real estate attorney in Daytona Beach. Contact us today to get started on a comprehensive will of your own. 

Purchasing commercial property is an exciting and rewarding venture. The prospect of owning real estate assets in the Sunshine State has garnered wide appeal for decades. The possibilities for progress and positive growth continue to generate timeless charm for countless people across the country.

Still, sometimes complications arise. That’s when you need a Daytona Beach real estate attorney who fully understands (from start to finish) the minute details and intricacies of the process. As you prepare to secure commercial property in Florida, keep these suggestions in mind.

1) Practice Proper Planning

No one likes unpleasant surprises or having to jump through a series of legal hoops to accomplish what seems like a simple action. So, the first step in your commercial real estate undertaking is to consider locations that best match your needs and requirements. You’ll also have to decide whether it makes more sense (financially and otherwise) to purchase a building outright, or lease the space for an indefinite period of time.

In the case of a purchase, it’s integral to find a building that’s priced as close as possible to its actual value. The last thing you want or need is to be taken for a ride by an unscrupulous seller. Thankfully, a skilled and qualified real estate attorney in Daytona Beach can help guide you through this sometimes-complex process.

2) Ask Pointed Questions

As you progress in your plan toward obtaining commercial property, it’s essential that you’re fully aware of exactly what you’re getting into. Achieving this goal involves getting detailed and thorough answers to important questions.

If you plan to purchase a property outright, you’ll likely have your own specific concerns. In the case of leasing, some of the most popular determinations include:

• amount of monthly rent
• security deposit and fees
• lease terms (length, regulations)
• responsibility for building maintenance and improvements
• business signage rules (type, placement)

You’ll also encounter specific determinations unique to your situation. Before moving ahead with any contract, it’s wise to partner with a Daytona Beach lawyer well-versed in real estate law.

3) Consider Use and Future Plans

Any REALTOR® will tell you that location remains a primary consideration for both residential and commercial properties. It’s paramount that you lease or purchase in an area customers will frequent. In addition, you should consider the neighborhood and surrounding businesses. Along with the competition, you must determine if there are local establishments and/or hosted activities that may be off-putting to your potential customers.

In terms of future growth, it’s wise to contemplate whether you can thrive and prosper in the chosen location, or would be forced to relocate as your business gains traction. Zoning laws will also dictate much of what’s possible on your commercial property. For example, opening a bar in close proximity to a school will present legal complications and challenges.

4) Cover All Bases  

Above all, it’s important to avoid scenarios that could get you into sticky situations — legally, financially, and otherwise. That’s why teaming with a trusted and reputable real estate attorney in Daytona Beach should be at the very top of your to-do list. Before exploring any commercial property possibilities, it’s best to secure the advice, advocacy, and expertise of this dynamic professional.

For over four decades, we’ve provided valuable legal advice and assistance to countless Central Florida residents and business owners. Along with real estate law, we also specialize in Volusia County guardianship and estate planning. Contact us today to discover how we can help you attain the corporate location of your goals and ambitions.  

With prices rising every day, people are looking to save a penny anywhere they can, whether finding the lowest price on groceries or eliminating unnecessary and costly services wherever they can.

So if you’re thinking about buying or selling property, you may be tempted to save some money by foregoing the assistance of an attorney during negotiations and closing. However, this is a mistake that can end up costing you dearly. The professional services offered by a Daytona Beach lawyer can save you considerable time and money, all while providing peace of mind.

An Attorney Can Negotiate a Better Price

Bargaining in a real estate sale is not only common, but it can be the best way for the seller to realize a larger profit or for the buyer to save more money. If you’re not assertive or do not enjoy the back-and-forth of negotiations, however, you may not receive the best deal possible. But a local attorney who is familiar with the Daytona Beach real estate market can negotiate on your behalf if you’re not comfortable doing so.

 

An Attorney Can Prepare and Review Contracts

Real estate sales present the need for many written contracts, some of which have terms that may not be in your best interests. If you sign such a contract, you’ll likely be bound by its terms even if you did not read or fully understand it.

But a lawyer can explain a proposed contract to you and advise you on how the contract will impact you. If you do not have a contract, your attorney can draft a real estate contract for your specific needs and circumstances.

 

An Attorney Can Search for and Correct Title Defects

Title defects exist in various forms, but they can all interfere with the buyer’s ability to fully possess and use the real estate they are purchasing. These defects can not only lower the value of the property but require costly litigation to resolve.

A lawyer who specializes in real estate transactions can help you find and fix any title defects before a sale is finalized. This can ensure that you get a fair and accurate price for the property and can eliminate the need for future expensive legal disputes over the property.

 

Protect Yourself with a Daytona Beach Lawyer

Don’t fool yourself into thinking that saving money in the short term is a wise choice. Ensure that you and your land are protected by hiring a real estate attorney in Daytona Beach for your next property transaction.

If you’re involved in estate planning, you may often consider updating your will. 

Modifying a will is generally a simple process that can be done at any time. Because a will outlines how your assets will be distributed to your loved ones after you pass, there can be plenty of information to account for.

As such, there are certain moments in your life when you should certainly update your will. Knowing the key moments that call for an update can help ensure you don’t leave out any important assets or instructions in your will.

Consulting with a wills attorney in Daytona Beach can make estate planning a simpler, more streamlined process.

Moving to Another State

Every state has its own laws concerning wills, trusts, and probate. If you relocate to another state, you’ll want to consult with an attorney to make the necessary modifications to your will. 

Updating your will and documents to comply with local laws will help you avoid any issues down the road.

Additionally, if any executors or benefactors have moved away and their ability to fulfill their designated duties has changed, you should make the appropriate changes in your will.

Divorce 

If you file for divorce, you’ll want to make the necessary updates to your will to reflect the major changes associated with separating from a spouse.

You may also want to change any named beneficiaries and redistribute your assets. However you choose to update your will, you should do it sooner rather than later if you get a divorce.

Birth of Children and Grandchildren 

If you have children, you should update your will to reflect this new addition to your family. 

Updating your will when you have children can mean listing them as beneficiaries, establishing a trust fund, and naming a legal guardian in the event of your death or incapacitation.

Once your children turn 18, or when they have children of their own, you should consider additional updates to correspond with their paths into adulthood.

Major Changes in your Assets

Should any major changes happen to your assets, it’ll be important you make the necessary updates in your will. 

This can happen whenever you buy or sell homes, land, and vehicles.

Wills Attorney in Daytona Beach

Anyone involved in estate planning will have to make updates to their will throughout their lifetime. Knowing the right moments to make these modifications will help ensure your will always reflects your assets. 

Retaining an experienced Daytona Beach wills lawyer can be beneficial as you navigate the estate planning process. 

Estate planning can provide peace of mind for anyone looking to secure their assets and leave behind a legacy. It also gives older adults the flexibility of putting someone in charge of their healthcare and financial decisions.

Just about anyone can benefit from estate planning, but it can be hard to take the first step in these major life decisions. 

Although estate planning can be an uncomfortable subject, knowing the answers to some common questions will help you understand the process and take the first steps toward planning your estate. 

An estate planning attorney in Daytona Beach can help you determine the best course of action. 

What Is Estate Planning?

Estate planning, in simple terms, is the process by which you prepare your assets for when you pass away. Assets can include any bank accounts, vehicles, property, and personal items of value. 

Seniors can also make end-of-life decisions, including:

• Naming a guardian
• Listing beneficiaries in life insurance and IRAs
• Funeral arrangements
• Determining a power of attorney
• Making charitable donations
• Funeral arrangements
• Establishing trusts 

By planning and preparing for your legacy, you can make sure your assets go where you want them to. 

Is a Will the Same as Estate Planning?

While a will is one way to help determine what will happen to your possessions and assets after you pass, it’s just one part of the estate planning process.

Estate planning has many moving parts, and a well-planned estate should include a will or a trust to ensure property and assets are accounted for.

How Can Estate Planning Attorneys Help Me?

Estate planning involves navigating the complex legal system. It’s a delicate process that can become tied up in different laws and statutes concerning property, money, guardianship, and other factors. 

Complications may arise in validating documents, clearing up financial disputes, and working alongside third parties. 

Estate lawyers can help resolve these problems and help ensure your estate planning is a smooth and easy process.

What Happens If I Don’t Plan My Estate?

If you don’t leave behind a will or trust, your assets will be distributed according to Florida probate laws. In this scenario, you won’t have a say in who gets what.

By not planning your estate, you leave important decisions in the hands of the courts. This can lead to problems down the road for your loved ones.

Estate Planning Attorney in Daytona Beach

You don’t have to be rich to start planning your estate. If you’re a senior living in Florida, consulting with an established wills attorney in Daytona Beach can be the first step in preparing your legacy.

Estate planning involves making significant life decisions that will likely impact your loved ones for years to come. While designating your assets, establishing benefactors, and drafting your will are important parts of the process, you’ll also need to select an executor.

An executor’s obligations are vast and range from making funeral arrangements to ensuring your dependents are cared for and administering your assets according to your will. As such, the job of executor is a significant commitment, and choosing this person wisely can ensure your assets are well-managed. 

If you’re currently involved in estate planning, a wills attorney in Daytona Beach can be an excellent resource to ensure you make the right decisions. When selecting an executor, it is important to evaluate certain key factors:

Trustworthy

Because an executor will handle sensitive information about your assets, you must trust this person to make significant decisions on your behalf.

An executor must follow the terms of your will, despite what your loved ones may want. Because they’ll have great power and control over your assets, your executor should be someone you can count on to act impartially.

Responsible

The role of an executor requires substantial:

• Record keeping
• Accounting
• Correspondence
• Asset management

So, you will want to designate a responsible individual who you know can navigate the complexities of an estate and work alongside attorneys and financial planners in your best interests. 

Impartial

There may be a conflict of interest whenever you appoint someone to manage your assets. When it comes to executors, you’ll want to designate someone who is impartial and can make sound judgments without getting involved in family dynamics or business dealings.

Appointing someone with a conflict of interest can result in negative results when fulfilling your wishes after you pass.

Willingness 

Not everyone wants the added responsibilities that come with overseeing an estate. When you choose an executor, make sure it’s someone who has the time and willingness to tackle the job. When someone is eager to help, you can rest assured your assets are likely to be under better supervision. 

Location

When you appoint an executor, you’ll want to choose someone who can easily access your estate and work alongside any beneficiaries.

Consider any logistical issues that may arise if you select someone who lives abroad, speaks a different language, or lacks U.S citizenship. Administration of your estate can become particularly difficult when the executor has extra obstacles to overcome. 

Age and Health

Your executor should be someone who can perform their duties. When you appoint someone of advanced age or with ongoing health problems, administering your estate can become complex and may delay the disbursement of assets.

It’s wise to select an executor in good health who can carry out their job without any potential setbacks due to age or medical concerns.

Partner with a Wills Attorney in Daytona Beach

Consulting with an attorney can be a great resource if you’re working on your will. Going through probate in Daytona Beach may seem like a daunting process, but a dedicated lawyer can help you at every stage of your estate planning journey. 

For anyone involved in the process of estate planning, trusts can be a great solution to ensure your assets end up where you want them.
Though writing a will is one major part of leaving behind a legacy, trusts present another legal designation that you can use to direct the allocation of your assets when you pass on.
In Florida, revocable trusts are just one of the many options people can choose for their estate planning. As their name implies, these trusts are and can be modified during your lifetime. Learn more about how revocable trusts can benefit you as part of your estate planning process.

Living Trusts Explained

Under Florida law, revocable living trusts, also known as revocable trusts, are financial agreements that help establish how you’ll designate your assets after your death.
As with any “living trust,” these documents are written during your lifetime and largely remain under your control. Revocable trusts differ from other arrangements because you can make modifications and even cancel these documents at any time.
In many cases, revocable trusts are an excellent choice for giving Florida residents added flexibility to manage their property.

Pros of Revocable Living Trusts

If you’re wondering how a revocable living trust could help benefit you and your assets, consider some of the upsides to establishing these types of trusts:

Avoiding Probate Courts

Probate in Daytona Beach can be a lengthy, stressful, and time-consuming process. Under Florida law, most estates must pass through probate as a precautionary measure.
Many people opt for revocable trusts because these arrangements are not legally required to pass through probate. In other words, any assets designated in a revocable trust pass directly to the beneficiaries without any legal speed bumps.

Extra Privacy

Because revocable trusts don’t go through probate, you can make sure that any sensitive information regarding you or your assets does not become a matter of public record.

Flexibility

Revocable living trusts are created during your lifetime, and you have the freedom to manage and modify the terms as you please.
Flexibility is excellent for anyone who still wants access to their assets in a trust. Also, should the circumstances change, you can absolve the trust altogether.

Cons of Revocable Living Trusts

Depending on your unique situation, there may be some downsides to a revocable trust.
Estate planning is not always an affordable process. Establishing a revocable trust can be costly and time-consuming, particularly regarding “funding” and managing the trust.
Additionally, trusts lack some legal protection because they aren’t filed with the courts. As such, you may be at a disadvantage should you require the added safety net of a court filing.
Lastly, many Florida residents view trusts as a way to protect their assets from creditors. In specific trust arrangements, assets are no longer in your name. Revocable trusts remain your legal property during your lifetime and are subject to claims from creditors.

Probate in Daytona Beach

A revocable trust may be an excellent option if you want to avoid probate. Consult with a Daytona Beach probate lawyer today to learn more about estate planning.

Your family home is precious. You want to ensure that your children and your children’s children own it long after you are gone.

Passing real estate down to your children can seem like a complicated process, but it doesn’t have to be. With the assistance of a probate attorney in Holly Hill, you can make this process easier — on you, and the whole family.

Create a Will with the Assistance of a Real Estate Attorney in Daytona Beach

If you haven’t written a will, there’s no time like the present! It may not be fun to think about, but if you should die without a valid will, your property may not end up where you want it. By putting your final wishes in writing, you guarantee that your children receive everything you want them to receive.

It’s also important to update your will regularly. As your life circumstances and owned property change, the items in your will should do the same.

Avoiding Probate Costs

You want your children to get as much value as possible from your estate, but the probate process can eat away at that value with legal expenses and taxes. However, there are several ways to avoid probate costs.

You can create a transfer-on-death deed (a “Lady Bird Deed”). This deed will transfer the property to your heir upon your death without going through the probate process. 

Your real estate attorney in Daytona Beach can discuss the pros and cons of a transfer-on-death deed and draft such deeds.

Passing Along Property Before Death

If you are like many parents, you want to see your children enjoy your property before you pass away. There are a few ways to do this.

Give Property to Your Children

The most generous option is to give property while you’re still alive—though you should be aware that tax consequences exist for large gifts. A real estate lawyer can explain your options.

Sell Property to Your Children

Selling your property to your children keeps it in the family and also lets you enjoy the monetary value of that property before you pass. Depending on the property and your unique family dynamic, you may even be able to live on the property.

Learn More from a Probate Attorney in Holly Hill

Whether you want to pass along property when you die or transfer it while you’re still alive, a probate attorney can explain your options. Speak with one of these professionals as soon as possible to make sure your family home stays in your family.

A successor trustee is a person appointed by the court to take over the duties of a trustee when that person dies or becomes incapacitated. The successor trustee will take care of all of the duties of the original trustee until a permanent one can be named by the court. If you are appointed as a successor trustee, a wills attorney in Daytona Beach can help you understand your responsibilities. 

What Is a Successor Trustee?

A successor trustee is a new person who takes over the role of the original trustee under the trust. The original trustee can be any person, including you, or an institution like a bank or trust company. The successor trustee replaces the original trustee when he or she dies, resigns, or becomes unable to fulfill their duties.

When Does a Trustee Assume Their Duties?

A successor trustee typically assumes his or her duties after the death of the original trustee. However, if your will names a successor trustee, you may want to consider naming another person as a co-trustee to ensure that both parties will be involved in managing the trust.

What Are the Responsibilities of a Successor Trustee?

The role of a successor trustee depends on how much work needs to be done, how much time it will take for them to understand their responsibilities, and whether they’re named in your will or by a separate writing, such as a deed or contract. Some people name one person as successor trustee in case something happens to them. Other people name several different successors in case something happens to them all at once.

Understanding Probate in Volusia County

As a successor trustee, it’s important to understand probate in Volusia County and what it means for your situation. Probate is a process where an executor or administrator is appointed by a court to manage an estate when no will has been left behind by someone who passed away. A probate court will appoint an executor or administrator if there’s no other way to handle affairs without court supervision.

You should know that there are two kinds of probate in Volusia County:

1. Ancillary Probate: Used when a person dies without a will or with a will that does not clearly define who inherits the property
2. Intestate Probate: Used when someone dies without leaving behind an estate plan or any heirs who can take care of their affairs for them

It’s important to note that anyone can appoint someone else as their successor trustee; they don’t have to go through any kind of official process. However, if you have been appointed a successor trustee, it’s important that you understand what your responsibilities are so that you can perform your duties properly when necessary.