Leigh S. Scales Attorney at Law

Tips For Your Loved Ones to Avoid Probate Court After Your Death

1. Make sure you name pay-on-death beneficiaries on ALL financial/retirement accounts (even airline miles and hotel points). Be certain not to skip even one account, or that account will have to go through probate to transfer to your loved ones!

Simply naming your beneficiaries in your Will is NOT enough. They must be named on EACH account itself.

2. Have a Lady-Bird Deed* to transfer your home(s) upon your death.

3. You will need a Trust if you have minor children or own land outside of Florida (where they do not have Lady-Bird Deeds).

4. If you own rental property, you may want to own it in an LLC for liability protection. You will want to have documents that transfer the LLC to your heirs in the event of your death.

*More about Lady-Bird Deeds:

Did you know that Florida is 1 of only 5 states that have Lady-Bird Deeds?

These deeds transfer your homes and land upon your death to the person(s) you list on the deed (your beneficiaries) in the percentages you desire. The fee to prepare these deeds is $250, plus a minimal county recording fee.

The Formal Name for these deeds is Enhanced Life Estate Deed.

What if you change your mind later? You may change the beneficiaries at any time prior to your death.

During your lifetime, the beneficiaries have no interest in your property, so you may sell, lease, or refinance the property without involvement of the beneficiaries.

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Last Will and Testament – names your beneficiaries and the executor of your estate in the event probate is required

Trust – transfers assets upon your death without the need for probate

Durable Power of Attorney – appoints someone to manage your affairs during your lifetime

Health Care Surrogate – appoints someone to manage your healthcare during your lifetime

Living Will– sets forth your healthcare wishes in the event you are unable to do so

Probate

Has a loved one passed away and you wonder whether you need to go to probate court?

Our firm is happy to review your situation and let you know. Please give us a call or send an e-mail. We will answer the phone or return your call or e-mail within 24 hours. The consultations are free.

Deed Preparation

Do you need to transfer property?

Before you do so, you should consider the tax consequences.

Our firm can advise you about the best type of deed to meet your needs and the tax consequences associated with your options.