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A trust can be a very important component of a Florida resident’s estate plan. There are a lot of different kinds of trusts, whether they are revocable or irrevocable, and they can be tailored to suit the unique situation and goals of a particular individual. A lot of individuals come to Mitchell Kitroser wanting toRead more

Estate planning is nothing more than planning for the future and not something to fear. Nevertheless, many Florida residents find it difficult to initiate their estate plan. In cases that involve the death of a loved one without a finalized estate plan in place, the probate process can be costly and nerve-wracking for the heirs.Read more

A revocable trust — also known as a living trust — is a legal arrangement in which a person known as the trustee manages property that is being held to benefit another individual, known as the beneficiary. In a revocable trust, the trustee controls the property inside the trust; however, the trustee is also boundRead more

Believe it or not, 50 percent of the adult population in the United States has not finalized their estate plans and it seems like all of them have a valid excuse. In Florida, some individuals might say that it is because they are single. Others might say that it is because they are not wealthy.Read more

Whenever an individual passes away, there is the potential that surviving family members will fight over that person’s estate. These days, divorces, new marriages and blended families make the process of dividing up an estate even more complicated. However, by employing various estate planning strategies, Florida families can do their best to limit the chancesRead more

What do you do when you want to bequeath your children and grandchildren your money, but also wish to ensure that they don’t spend it all on ski vacations in the Swiss Alps or their own private island in the Caribbean? Some people are using incentive trusts to prevent their heirs from becoming “trust-fund kids”Read more

There have been many changes in estate planning over the past decades. In the past, people generally passed on their assets to children and grandchildren. Now, with many people choosing not to marry and/or have children, there has been a shift toward bequeathing assets to charitable organizations. This requires careful estate planning. That is somethingRead more

Palm Beach is home to some of the richest estates in the country. Celebrities, retirees and multimillionaires have chosen to build their dream homes here. However, as the old saying goes, “The more you have, the more you have to take care of.” Those who want to protect their estate for their loved ones needRead more

As people get older, it is natural to start thinking about what is going to happen to our belongings and families when we are no longer around. Some words come to mind that we never spent much time thinking much about in the past: estate planning. It might be time to decide what you wantRead more

Probate is the process by which a court reviews a will, deems it to be valid and appoints someone to execute it. In Florida, the probate process can be expensive because it involves hiring an attorney and filing papers with the court. Floridians can take action before probate is necessary through other legal channels and estateRead more