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St. Petersburg Estate Planning Blog

Why you need an attorney when purchasing a home

Are you ready to make a home purchase in St. Petersburg? If so, you need to conduct plenty of research into the market and comparable home prices. You should also look into the schools, shopping, medical offices and employment opportunities in the region. Many people don't realize how helpful an attorney can be when it comes time to purchase a home.

An attorney who helps you with your home purchase will be able to sift through the purchase agreement from top to bottom to ensure that there are no unfavorable terms. This is an important task to complete because the minute you sign that document, you are committing to the purchase of the property.

An important checklist for the executor of a will

Being chosen as an executor of a will for a friend or loved one in Florida is never easy. You have to discuss end-of-life plans and this can be very uncomfortable for many people. No one wants to think about losing a loved one but it's important for everyone to plan ahead and prepare for the unimaginable. That's why we have created an important checklist for the executor of a will.

  • Acquire the most recent copy of the will
  • Read the will thoroughly to understand the instructions
  • File petition with the court to send the will to probate
  • Obtain all the assets of the decedent, including any held in a safe deposit box
  • Speak with banks to find all accounts held in the decedent's name
  • All securities must be transferred to your name
  • Offer management for rental properties

Some more items on the checklist that you should know include:

  • Collect all proceeds from life insurance policies that are payable to the decedent's estate
  • Conduct an inventory of all the decedent's assets
  • Prepare assets for possible appraisal
  • Determine if any assets need to be liquidated
  • Pay any and all relevant claims made against the estate
  • File and pay federal and state taxes due
  • File income tax returns for the decedent
  • Prepare a statement of all disbursements and receipts
  • Handle any specific bequests listed in the will by the decedent

How do I choose a guardian for my children?

Having children is one of the most exciting times in life. Through all of the excitement, you have to start planning for the unexpected. Planning helps you ensure your children will be protected and cared for properly should you die before they reach adulthood. This is an important part of the estate planning process in St. Petersburg that should never be overlooked.

When choosing a guardian for your child, the first thing you need to take into account is the person's experience with children. The most logical starting point is a sibling of yours who has kids of his or her own. You could also ask a close friend who is involved in the lives of your children. Some people ask the grandparents of the children to be guardians.

Why everyone needs a basic estate plan

You can be 25 years old with a baby, 55 years old and happily married, or middle-aged with a few grandchildren; the need for an estate plan is still relevant. Life is unpredictable, but where your finances go should not be. An estate plan is a simple way to prepare you and your loved ones in the wake of a complicated circumstance. With a little financial planning, you can ensure that you will be in control of your legacy and how things are handled in case of your absence.

Estate planning is not just about property

Common issues that can derail a real estate transaction

Are you interested in the real estate market outside of simply owning a home? Do you want to buy a commercial property? Do you want to become a landlord? Are you ready to buy your first home? All of these are known as real estate transactions. These transactions can quickly fall apart due to various legal issues that arise in Florida.

A common issue centers around the zoning of the land. Someone might want to buy a property and then build a duplex or side-by-side residences not knowing that the zoning does not support this type of construction. This can quickly derail the transaction, especially if the buyer doesn't want the property anymore since he or she cannot build what he or she intended.

Tips for picking a power of attorney in Florida

When the time comes, you will need to find someone to handle all of your affairs in St. Petersburg. This is not an easy task, not in the least bit. You will need to think about end-of-life issues that not everyone can handle. Do you choose someone who is a friend? Do you choose someone who is a family member? Here are some tips for picking a power of attorney in Florida so you can make a difficult situation easier.

First and foremost, you need to pick someone in your life whom you trust. You don't want to make the mistake of choosing someone you don't trust. This can backfire immensely, causing issues with your family at the time of your death. When you choose someone you trust, you won't have to worry about the person going against your wishes.

Risky mistakes in estate planning can be repaired

Planning your estate is an important part of life. It comes with a lot of uncomfortable discussions that you need to have with your spouse and your children since it deals with things that will happen if you become too ill to make decisions or for when you die. Because of this, many people will forgo this vital aspect of life. There are some risky mistakes that people make during estate planning that thankfully can be fixed.

Many people don't think that elder abuse will ever happen to them as they age. The sad fact of the matter is that it can happen and when it does, it often involves financial abuse such as fraud. You can protect against this happening to you and your estate by making the following changes in your life right now.

Working With Adult Children To Assure Peaceful Estate Planning

Whether you are making out a will, or need a more elaborate estate plan, chances are if you have adult children they will have their own opinion about what you should do with your money both while you are still here, as well as after you are gone. If you have multiple children, there is a good chance that they may disagree with whatever you choose to do, and may even fight amongst themselves after you are gone, putting your estate into probate, rather than where you want it to go.

Financial and investment service powerhouse, the Motley Fool has a few suggestions on options for avoiding probate, including setting up a living trust, setting up joint ownership of property, and making accounts payable on death. While these are good place to start for many, it is important to acknowledge that there is not a "one size fits all" way to handle your estate plan.

Important checklist for Florida estate planning

Are you planning your estate in St. Petersburg, Florida? If so, you are making an important decision that affects not only you but also everyone else in your family. This is an especially important undertaking if you have minor children. Planning out your estate before it's too late makes it easier for everyone to move on after your death.

By preparing ahead of time, you will be able to prevent fighting among your children (if they are adults), fighting among your siblings and any other familial issues that could arise at the time of your death.

Benefits of trusts for real estate

The benefits of holding Florida real estate in a trust are many and varied. A living, or revocable trust, once formed, can continue to have assets placed in it. A trustee, who can be an individual or a business entity, administers the trust per your instructions.

Avoidance of Probate


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Fisher & Wilsey, P.A.
1000 16th Street North
St. Petersburg, FL 33705

Phone: 727-369-8572
Fax: 727-821-6681
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