A person or entity granted administrative control of a trust is called a trustee. If you have been appointed as a trustee in the Sunshine State of Florida, you have obligations under the law regarding administration of the trust.
Many people retire to Florida because it has the reputation of being a tax friendly state. For example, there are no state income taxes in Florida, which means pensions and retirement plans are free from taxes.
A living will is a written directive that allows you to state your wishes regarding what sort of end-of-life care you want to receive. Florida law recognizes the right of any capable adult to create a living will, which can then be used if that person becomes incapacitated and unable to communicate their wishes to their doctor and loved ones.
The state of Florida recognizes the right of any capable adult to create an advance directive known as a health care surrogate designation. This designation is typically used to allow your named surrogate (and their successors) to make every day medical care decisions like consent to surgery, consent to treatment, admission to a health care facility and the hiring and firing of doctors, nurses and therapists.
A durable financial power of attorney in Florida is a simple and reliable way to arrange for someone to manage your finances if you become incapacitated and are no longer able to make your own financial and legal decisions.
Florida is one of the states that permit you to add a personal property memorandum to your estate plan. This is a supplemental document that must be referenced in your will or living trust and allows you to specify the items of personal property you wish to leave to your loved ones.
Parents are making professional designations with the intention that the professional representative will be able to efficiently and harmoniously administer their affairs and estate at an overall lower overall cost.