In Florida, trustee compensation is governed by Florida Statute § 736.0708, which provides that when a trust does not specify compensation, a trustee is entitled to compensation that is reasonable under the circumstances. Determining what is reasonable can depend on the nature and complexity of the trust, the trustee’s responsibilities, and the services performed. Disagreements…
In Florida, the Notice of Administration is a formal document that seeks to notify all interested parties of the decedent’s death, as well as the filing of their last will and testament as part of the probate proceedings. Specifically, this will mention a time period within which objections to probate proceedings must be filed in…
Elective Share and Florida Law Florida law includes a surviving spouse’s right to an elective share of a deceased spouse’s elective estate. Florida’s Probate Code Chapter 732 contains this right. Legislators enacted this statute to protect the living spouse’s financial security. Under Florida law, the elective share is equal to 30% of the decedent’s elective…
What You Need to Know About Probate When a loved one passes, individuals are overwhelmed with feelings of grief and emotion. During this time, often the last thing they are interested in dealing with is the legal and financial process associated with an individual’s death. However, many families are put into a position where they…
When someone passes away in Florida, there are a number of things that are put into motion as part of the estate administration process. One of these is the Notice to Creditors, which is the formal notification process that gives creditors the opportunity to become aware of the decedent’s death and participate in the settling…