Monthly Archives: May 2022
Does A Buy-Sell Agreement Trump A Will?
A common legal technique used in business succession planning is the buy-sell agreement (BSA). This term essentially describes any contractual agreement providing for the sale of a person’s interest in a business entity upon their death. For example, if you have a multi-member limited liability company (LLC), the operating agreement may contain BSA language… Read More »
Common Questions About Florida’s Elective Share Rule
An often misunderstood aspect of Florida probate administration is the “elective share” rule. The elective share is essentially a legal protection against one person completely disinheriting their spouse. The elective share basically represents the share that the surviving spouse may legally claim in the deceased spouse’s property, notwithstanding any will or revocable trust to… Read More »
What Are The Different Types Of Beneficiaries Under A Florida Will?
One of the main purposes in making a will is to name one or more beneficiaries who will receive your property after your death. Broadly speaking, there are three types of beneficiaries under a will: primary, alternate, and residuary. Here is a brief explanation of each category. Primary Beneficiaries A primary beneficiary is basically… Read More »
Should I Keep My Original Will In A Safe Deposit Box?
When it comes to probate, original is always best. That is to say, in order to open a probate estate when the decedent left a last will a testament, it is usually necessary to file the signed original document with the court. In most cases, the executor or personal representative named in the will… Read More »