Bite-sized Answers to Your Big Legal Questions
When you’re not an estate planning lawyer by trade, it can be hard to digest the legal explanations for things like wills, trusts, and probate. We hear you. That’s why we created a series of short-and-sweet videos to answer your frequently asked questions about estate planning law.
Be sure to check back every once in a while for new videos from our attorneys. If you have more specific questions about a case, of course, feel free to get in touch with ElDeiry & ElDeiry, P.A.
Speaker 1: There are a lot of forms and documents out there that really encourage you to how to prepare your own will, but basically as we tell many of our own friends, clients, and neighbors that if you decide to prepare your own will, it’s rea … |
Most people need some form of estate planning. Whether it’s to help make medical or financial decisions while you’re alive, or whether it’s because you want your assets to go to someone special without having to go through the court process in doing so … |
I feel like I’m a down to earth person, and when my clients are speaking with me I feel we have a great rapport. They feel like they’re talking to a friend, and not some aloof business person. I give them my cellphone number. They can always reach me o … |
Because once your child is legally an adult, in the event he or she gets in an accident and is unable to give consent no medical professional is allowed to speak to you without them having done a medical power of attorney. |
An estate plan is a two-step process we use in order to avoid the court systems. First, we prepare healthcare powers of attorney and durable financial powers of attorney in order to have you appoint someone that can make healthcare decisions and financ … |
Probate is the court process, which is long, and oftentimes expensive. By which, a persons assets are retitled and distributed to their beneficiaries after they pass away. |
We understand that estate planning may not be one of the most exciting and vigorating topics that people want to discuss on a regular basis. But we often joke and [regularly] bring some humor to the situation with our clients and tell them, “Listen, to … |
In our firm, one of the huge advantages are that we’ve been practicing law for a combined 40 years-plus of experience, and we’re extremely dedicated and committed to providing outstanding service in the area of estate planning and probate. One of the t … |
A will tells everybody where you would like your assets to go after you pass away. Unfortunately, without a little bit of estate planning before you die, a will alone will not get your assets to who you want them to get to without having to go through … |
Normally we include a healthcare power of attorney, a durable financial power of attorney, a last will and testament, and if you own real estate or have more than one child, we usually include a revocable living trust. |
Most estates in Florida that have to be probated, it’s required to use an attorney. One exception is when the personal representative is the only beneficiary, but other than that, most estates require an attorney. |
Most times, yes. I’m a believer in avoiding probate. It’s a long process that can be very costly, and it’s just emotionally draining. There’s no reason to have to go through a probate if you do a little bit of planning ahead of time. |
I’m a big believer in this at this time because in the event a married couple is involved in a car accident and both pass away your property is in a trust, it avoids the probate court process which is a long and expensive process. |
One of the most commonly asked questions that we get is that unless you have a 10,000 square foot home with a 12 foot garage, or a 12-car garage, do you really need an estate plan. The truth is, and the honest answer is that the size of your estate, th … |
Absolutely, yes. We strongly recommend that everybody that’s out there has some form of will in place because even if all of your assets are jointly owned and held together by you, your spouse or another loved one, they key to preparing a properly draf … |
And uncontested probate administration in the state of Florida in most counties takes approximately six or seven months. In Miami Dade County, however, it takes between nine months and a year to complete. |
Basically, many small business owners we encounter are basically the only owner of their particular business. What we really want to impress upon those particular business owners are, if you’re the only one that has the ability to sign checks, do payro … |
Basically any and all businesses that are profitable, that have an ongoing concern, that are properly doing things on a regular basis to make profit year in, year out, really need to sit down and think about a succession plan and an exit strategy as to … |
The difference between an estate plan and a business succession plan are is that the estate plan really looks at the individual in a wholistic way. It covers everything that the individual may own from beginning to end. The concept behind a business su … |
If you happen to be an individual that owns a piece of a small business, whether you own as little as 5% or as much as 95%, it is critical that you have a proper operating agreement, or some type of partnership agreement, or some type of business agree … |
Absolutely, yes. We recommend that any and all small business owners out there try and really approach some other colleagues and people that they know in the community to set up a board of advisers, to set up some other people that are familiar with yo … |
No, they don’t. Only the ones that are in the decedent’s name individually and for which there was no beneficiary, so like a bank account or life insurance policy, both of which can have beneficiaries. If there is is one on there, they don’t need to be … |