Larry Tolchinsky | December 9, 2015
When someone passes away, particularly when it is a sudden or an unexpected death, it can be a shocking and chaotic time for their family and friends. Fortunately, Florida Probate Law affords protection for the decedent’s interests immediately upon their passing. Under the law, as soon as a personal representative is appointed by a probate […]
Larry Tolchinsky | November 25, 2015
When a parent passes away, it’s a major life event for the children of the deceased person, no matter their age. The grief they experience can be overwhelming. So much so that it can take time for a child’s life to return to normal. Unfortunately, the parent’s creditors can be impatient. As the children are […]
Larry Tolchinsky | October 28, 2015
Florida Personal Representatives Have A Fiduciary Duty to Creditors of the Estate When someone dies in the state of Florida, the law allows for the creation of an “estate” to act as the owner of the decedent’s property, real and personal, as well as the decedent’s debts (bills, taxes, etc.). If a formal probate administration […]
Larry Tolchinsky | September 23, 2015
In Florida, when a person passes away the law leaving property or other assets, an estate is commonly opened to distribute the assets according to the decedent’s wishes or by the laws of intestacy. However, before any distribution of estate assets can be done there will be debts to be paid. Who gets paid, and how […]
Larry Tolchinsky | April 14, 2015
Before tomorrow’s April 15th deadline, people will be making financial decisions, like depositing funds in an IRA (individual retirement account), in an effort to pay less federal income tax. Some of these tax decisions can also be used as part of an estate planning tax strategy (other tax strategies that can have duel usage, include […]
Larry Tolchinsky | July 8, 2014
When a loved one dies in Florida, the law immediately creates an “estate” to hold that person’s real estate and personal property until the assets can be legally determined, which are then transferred to the person who inherits it. An executor (in Florida, the person appointed by the Probate Court is known as personal representative […]
Larry Tolchinsky | October 21, 2010
The Personal Representative’s first order of business upon being appointed to administer a deceased person’s estate is to ensure that the decedent’s mail, etc. is being forwarded to him/her. The biggest reason for this is so that the PR is kept abreast of the decedent’s obligations to third parties (i.e. phone, power/ lighting, credit card, […]