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North Port Estate Planning Blog

Leaving money to a spendthrift is not always straightforward

Almost everyone has heard stories about people who acquired large amounts of money and spent it all frivolously in a short period of time. Sometimes this happens after someone wins the lottery, but sometimes it happens when someone inherits a large sum of money outright.

There are actions you can take to help prepare your children for the wealth they may eventually inherit, but you often cannot control someone else's behavior. If you have children who do not have good money management skills, it may be necessary to protect them from themselves.

Legal results do not always require going to court

Going to court to argue out an issue is an intimidating prospect for most people. Aside from the fear that you may lose your case, the amount of time the proceedings will take, the money it will cost to hire an attorney and the stress of it all makes many people want to avoid court all together. That is why alternative dispute resolutions are available.

Alternative dispute resolutions allow parties to solve their legal issues without litigation. Virtually any subject can be resolved in this way, including divorces, probate, tenant/landlord disputes, business disputes and more. Two of the most common forms of alternative dispute resolution are mediation and arbitration.

Litigation, arbitration or mediation?

When you are trying to settle a dispute, there are more ways to do so than heading straight to the courtroom. In fact, in Florida, you are required to complete mediation prior to any litigation. You can complete alternative forms of dispute resolution, such as mediation and arbitration, for a number of different types of issues, such as real estate and construction matters, or even issues with the homeowners' association.

Finding an alternative method to resolve your dispute, outside of the courtroom, can be beneficial for all parties involved.

Do you have grounds to contest a loved one's will?

The loss of a loved one can hit anyone hard. You may have recently had a close family member pass and are trying to remember the wonderful times you spent together. However, something has been bothering you about your loved one's will.

You may have learned along with the rest of the family that your loved one had chosen to leave the majority of his or her estate to a seemingly random person or that he or she unexpectedly decided to cut you out of the will. Unfortunately, unexpected details emerging from a will can cause a great deal of confusion and concern, especially if you had anticipated different outcomes.

Is the will I created in another state valid in Florida?

After decades of hard work, you’re ready to spend retirement exactly where you’d always hoped. Your “home” is no longer up north. It’s in Florida, far from the winter season’s snowy grip. But there are still some practicalities to handle, one of them being your estate plan.

Now that you reside in a new state with new rules and regulations, it may be a good time to review that will you wrote in your previous home state. Here are some reasons why.

Six things to know about creating a will

Wills are the most widely recognized estate planning documents. Most people have at least some idea of what a will does. Simply put, a will is a legal document that allows you to pass on assets to your heirs.

However, you probably do not know all the specifics of creating a will. When it comes to your estate, what you do not know can hurt you, or at least hurt your ability to pass your assets on to beneficiaries. Below are six things you may not know about creating a will.

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