Estate Planning Law Articles

Anyone who has a substantial estate knows that avoiding estate taxes is one of the primary goals of estate planning. The estate tax rate changes on a regular basis; however, it is typically high, meaning an estate could lose as much as half of its value to taxes. One option for avoiding estate taxes is to gift assets to family members and loved ones during your lifetime.

Back in 2010, there was a lot of uncertainty surrounding the estate tax. The tax was repealed for that year due to provisions contained within the Bush era tax cuts. However, as the laws stood throughout most of 2010, the estate tax was scheduled to reappear in 2011. At that time the exclusion was scheduled to be $1 million, and the maximum rate was set at 55%.

Taxes are an interesting thing because they can spawn conflicting emotions. Money is hard earned and nobody wants to part with a significant portion their earnings and give them to the tax man. However, the vast majority of thinking people recognize the need to fund certain foundational elements of society.

Under § 16 (1) of the German Law on inheritance and gift tax a tax free amount on the taxable acquisition of up to €500 000 (depending on the degree of kinship) is generally granted. However, this exemption is only €2 000 if both the decedent and the beneficiary are not resident in Germany. The new law now allows to avoid choose the application of the full tax free amount if the beneficiary taxes his worldwide acquisition.

People tend to procrastinate when it comes to addressing the issues of aging and the inevitability of death and you are probably among them. Of course, these are not especially pleasant subjects to consider. These are realities all the same and it is useful to remember that you are assisting your family members when you take action and make the appropriate arrangements.

It is important to consult with a Central New Jersey Estate Planning attorney when you are making plans for the future regardless of your family dynamic. There are a lot of different bases to cover if you want to be comprehensively prepared for all the eventualities of aging and your eventual death. Professional guidance is key if you want to be certain that nothing is being overlooked.

The estate tax can have an enormous impact on the family members that you will be leaving behind and it is something to be very aware of when you are making preparations for the future. A single imposition of this federal levy is a big deal because it carries a 35% rate at the present time, and in fact this rate is scheduled to rise to 55% at the beginning of next year. But imagine having to pay this twice.

Among the many estate planning tools, an irrevocable life insurance trust, or ILIT, offers numerous advantages with few disadvantages. The primary goal of an estate plan is to determine how you wish your assets to be distributed upon your death; however, there are often important secondary goals and considerations.

Generally, Florida law does not allow an adopted child to inherit through intestacy from his or her biological parents. The limited exception to this rule is when an adopted child’s birth parent dies but his or her surviving parent remarries a stepparent who subsequently adopts his or her deceased spouse’s biological child. In this limited situation, the adopted child of his or her stepparent and biological child of his or her deceased parent can inherit from both parents.

Many states enacted estate tax programs which supplemented the federal estate income tax laws. Known as “pick-up” taxes, state estate tax programs typically picked up where federal taxes left-off. Thus, since most estates did not owe federal income taxes, a small number of Floridians paid state pick-up estate taxes.

Why Nil Rate Band Trusts in Wills should be reviewed. Until 2008 lots of people made what was called nil rate band trusts in their Wills. They were designed to save inheritance tax. This is how they worked: Inheritance tax (IHT) can be charged on gifts of money or property during someone’s lifetime and when they die.

If you expect to retire when you are in your mid-60s, you are going to have to save enough money to provide for your needs for perhaps 20 years or more. Most people will require a thoughtful and practical plan to be able to accumulate the resources that they need to comfortably enjoy their retirement years.

Adam J. Blahnik, a Minnesota divorce and family law lawyer, explains how Minnesota is considered a common law property State (or marital property State) as opposed to a community property State. He then details the difference between "marital property" and "non-marital property" in Minnesota.

If it’s time for a loved one to move to a nursing home, it is likely that your entire family is upset about the situation. This is because living in a nursing home is a big change. Luckily, there are steps that you can take that will make the move easier. Take a look at the following information to learn more. If you have any questions, or if you’d like to discuss nursing home options, contact an estate planning attorney.

Even if you don't have a lot of property, you can benefit by creating an estate plan that chooses how your property passes after you die. If you don't set your choices out in a legally recognized manner, Arkansas state law makes the decision for you through its laws of intestate succession. These laws are quite complicated and can lead to a number of different scenarios, so you should talk to a qualified estate planning attorney for specific advice about what might happen to your estate.

When you are anticipating the eventualities of aging long-term budget projections are necessary. To estimate your future expenses accurately you have to be fully aware of the facts, and with this in mind you would do well to know a few things about long-term care and the costs involved.

If you are not apprised of current elder law statistics you may be somewhat surprised to hear about the facts regarding incapacity among those who reach an advanced age. According to the Alzheimer's Association, some 13% of senior citizens are afflicted by the disease. Alzheimer’s causes dementia, which can rob its victims of the ability to make sound personal, financial and medical decisions.

Nobody wants to pay their taxes twice, and this is why a lot of people take umbrage with the federal estate tax. The estate tax can be logically called an instance of double taxation, and we will explain by way of example. Let's say that you work for a company and receive direct deposits every two weeks throughout your forty-year career. When that money gets to your account it is going to be markedly less than your gross income, right?

A properly drafted medical power of attorney in Arkansas, sometimes known as a durable power of attorney, is an essential part of a good estate plan. State laws have very specific rules when it comes to making these advance medical directives, and you must follow these requirements to ensure your power of attorney is legal.

For many of us, the idea of leaving our pets without adequate care after we die is not an option. While you know how much you love your pet, the law doesn't recognize the right for an animal to own property, which means you cannot leave your property to your pet after you die.

Many people hear the term “estate planning «and immediately think it doesn’t apply to them. After all, estate planning, is only for the rich or the elderly, right? Wrong. Basic estate planning is a necessity for everyone. As you age, or your estate grows, you can revise your estate plan to include more complex tools. Understanding some of the most basic estate planning tools, can help you on your comprehensive estate plan and should be started, preferably, early on in life.

At some point in your life you may have a loved one who requires the care and attention that only a nursing home can provide. The decision to place your loved one in a nursing home is never reached easily. Once you have reached the decision, it is important to choose the best nursing home possible for your loved one’s care.

Although we may dread the aging process, most of us hope to live long enough to enjoy our “golden years». If you still have many years to go before your own “golden years», there is a good chance that you have a loved one who is currently enjoying his or hers.

A living will becomes valid in Florida upon the incapacity of the person drafting or making it. An individual can revoke or cancel his living will as long as he is mentally competent to do so. You may cancel or revoke your living will by physically destroying it, creating a new one or in writing through a letter of revocation. You can also revoke or cancel your health care surrogate designation in the same way.

In most cases, the Internal Revenue Service does not impose federal income taxes on inheritances. Thus, recipients of large inheritances may not have to pay income taxes on the value of their gifts. Instead, Congress enacted tax laws imposing the federal income tax liabilities on estates.

In Pennsylvania, decedents' estates are required to file a PA Inheritance Tax Return (Form REV-1500) as part of the probate and estate administration process. A PA Inheritance Tax Return should be filed on behalf of any decedent who (1) resided in Pennsylvania at the time of his or her death, and/or (2) owned or had an interest in reportable property that is subject to inheritance tax.

In 2006, Texas enacted legislation that allowed residents to create pet trusts, specific types of trusts that allow you to leave property for the care of your pet. The trusts are an ideal way for any pet owner who wants to leave their pets safe and secure after they die. Let’s look at some common questions about Texas pet trusts.

Given the typically high rate of both gift taxes and estate taxes, the grantor retained annuity trust, or GRAT, has become a popular estate planning option over recent years. Although the rules for a GRAT are complex and ever-changing, the basic concept is simple enough to understand.

The avoidance of estate taxes and the often costly and lengthy process known as probate, are two important goals of many estate plans. For those who have substantial assets that they anticipate leaving to family and loved ones, estate taxes are a prominent consideration when estate planning. Although the estate tax rate changes on a regular basis, it is typically extremely high -- often hovering around 50 percent.

An estate plan, once created, is not set in stone. You can, and should, make changes to your plan as time goes on. If you haven't made changes recently, there are several areas you should look at and update as necessary.

It is important to be aware of just how likely it is that you may go through a period of incapacitation before you pass away. Alzheimer's induced dementia is very common among our nation's elderly, and this is one of the reasons why it is good idea to be prepared. However, there are other causes of incapacity as well and it is better to err to the side of safety rather than leaving things to chance.

A high percentage of people are not at all prepared for the eventualities of aging. One of the primary reasons for this is the fact that many individuals don't want to consider unpleasant possibilities. While this may be understandable on a particular level it is actually quite irresponsible. There are certain realities that are facts of life and there is really no excuse for refusing to accept them.

When you use a last will to direct the transfer of your assets after your death it is not just passed around among your loved ones. The probate or surrogate court must determine its validity, and most lay people have no understanding of the expectations of the probate court. This is one of the reasons why the guidance of a good central New Jersey probate lawyer is important when you are drawing up your will.

All states have their own set of probate laws and procedures that govern what happens to your property after you die. They also have their own court systems that handle probate cases. In many states, these cases are heard by probate court judges, while in others they are handled by district or circuit court judges. In New York State, probate cases are heard in front of the Surrogate's Court.

Many of you probably receive unsolicited junk e-mails offering different Asset Protection schemes. With so many "tax haven" jurisdictions and unlicensed companies selling unproven and unreliable Asset Protection techniques and entities, which do you trust? There are many flawed asset protection packages offered on the internet now days.

This article lists out the ten steps involved in Estate Planning in particular reference to the State of California. The following are the ten complete steps involved in the process of Estate Planning.

To pet lovers, the fact pet planning as part of estate planning has now become commonplace, is a “What took you so long?” In recognition that our pets are beloved members of our families, animal advocates, the Massachusetts state legislature, and estate planning attorneys have brought pet planning to the forefront of many estate planning discussions.

In America, it seems as though we are always worrying about one tax obligation or another. Everything from our income to the food we purchase is taxed. Most Americans devote a considerable amount of time and effort to limiting their tax burden throughout the year and looking for every possible deduction and credit at the end of the year.

“ABLE,” has been proposed again in both houses of Congress. The purpose is to encourage and assist individuals and families in saving private funds and to provide secure funding for disability-related expenses. At the urging of a number of national disability advocacy groups, federal legislation to "Achieve a Better Life Experience", more commonly known as "ABLE," has been proposed once again in both houses of Congress (HR 3423 and SB 1872) in November 2011.

If you are planning for the future, you probably have considered the use of life insurance. This can be a great tool to help protect your loved ones. However, many people don’t carefully consider their life insurance needs. Take a look at the information below, to better understand the need for enough life insurance coverage. If you have any questions, or if you’d like to discuss life insurance options, contact an estate planning attorney.

If you have friends and family members who mean the world to you, it’s important to discuss their need for an estate plan. This can be easy to approach if you’ve recently handled your planning affairs. You likely want to make sure that your loved ones will always be protected with an estate plan, throughout all of life’s events.

If your loved one is in need of long term care, you’re probably taking the time to compare different long term care facilities and options. Many seniors prefer to age at home so that they’re able to live a more comfortable life in a familiar environment. If you’re considering at home care for your loved one, you will need to carefully consider his or her needs.

Few people want to have to talk about estate planning because it involves uncomfortable subjects like money, health, disability, death, and dying. However, having a conversation or series of conversations over the years truly will benefit you and your family.

Your will or revocable living trust may indicate that if you are legally separated or divorced, your ex will be deemed to have predeceased you and cannot inherit from you. However, certain plan documents containing beneficiary designations – such life insurance, annuities, retirement plans, and pensions - do not have this same provision. These later plan documents rule and can result in your ex inheriting from you.

Sometimes the unthinkable can occur, and it can be all the more tragic if there are no estate planning tools in place to address the ‘what ifs. It’s unfortunate that more young couples don’t have an estate plan in place, neither a basic will nor durable power of attorney. They often wait until after they have started a family, or when they purchase their first home or even when they reach their 30’s or 40’s.

There are people out there who feel as though estate planning is something that is only relevant to those who reach an advanced age. Of course it is pure common sense to recognize the fact that the likelihood of your death becomes greater as you age, but this does not mean that estate planning is something that only senior citizens need to engage in.

Estate planning attorneys will often say that it is important to avoid asset erosion when you are engaged in legacy planning. This causes a lot of people to scratch their heads. They wonder why there should be any reason to be concerned about the value of their assets being reduced simply because they pass away and want to transfer them to family members.

You hear a lot about probate avoidance when you start to delve into the subject of estate planning, so let's take a look at three of the most common reasons why people choose to avoid probate. When you use a last will as your primary vehicle of asset transfer there could be disgruntled parties who learn of your wishes and feel as though they want to contest them.

A charitable remainder unitrust or CRUT is a financial instrument that is utilized to provide the grantor with tax efficient income while simultaneously protecting assets placed into the trust. The grantor would generally act as the beneficiary and the trustee, but he or she must also name a charitable beneficiary.

Once in a while you hear a statistic that is so jaw-dropping you question whether or not somebody made a mistake in passing it along. In the elder law community there is one of these that has been circulating for the past several months that is really attention-getting.

The initials “LLC” in a financial planning context stand for a "limited liability company." (Note that the “C” stands for company rather than corporation.) The limited liability company is somewhat of a hybrid enterprise that has some of the characteristics of a corporation while also resembling a sole proprietorship or partnership depending on whether or not there is more than one member.

Unless you have been living under the proverbial rock you are aware of the fact that the powers that be in Washington are consumed with the matter of the federal deficit. A while back a deal was struck to raise the debt ceiling so that the government could remain operable. This agreement included the appointment of a congressional committee that must come up with a plan to reduce the federal debt by $1.5 trillion over the next 10 years.

When you're making plans for your retirement it is important to have a cogent and realistic understanding of the limitations of Social Security. You can't get into the head of every person who is unprepared for retirement, but it would be logical to assume that a high percentage of individuals have unreasonable expectations regarding how far Social Security will get them.

It could seem as though there should be no problem transferring assets to others without incurring any undue expenses. Unfortunately, the IRS code does in fact stand in the way of cost-free asset transfers in many cases and this is largely due to the existence of the gift tax.

Atlanta elder law attorneys can help you get prepared for all the eventualities of aging, and it is truly best to have a comprehensive plan in place. When people get interested in estate planning they invariably recognize that they may well experience a period of incapacity before passing away, and this is something to recognize and address through the execution of the proper documents.

When the tax relief measure was signed into law in December that extended the Bush era tax cuts the estate tax parameters were affected. If the Bush cuts would have been allowed to sunset with no new legislation having been passed the estate tax would have returned to the 2001 level of 55%, and the estate tax exclusion would have been just $1 million. Instead we now have a $5 million exclusion and a 35% maximum rate of taxation.

If you are like most people when you're planning for your retirement, Social Security is going to be a factor. The majority of Americans polled say that their Social Security benefit is going to be their primary source of income when their working years are behind them.

On the surface it would seem as though you no longer have to worry about the estate tax if your estate is worth $5 million or less. Unfortunately, this is not completely true because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is going to expire at the end of 2012.

It is important to recognize the fact that Atlanta estate planning is an ongoing process because if there's one inevitability in life it is that of change. If you get started planning your estate early enough it is very likely that you will be revisiting it consistently throughout your life. Sometimes the changes that take place are personal and specific to you, such as changes in marital status, a windfall of money, or the selling of a business.

It is easy to neglect some of the smaller details when you are planning your estate. Legacy planning is a truly profound endeavor as your final act of giving, and when you combine the logistics with the emotional aspects the sum total of all that you have to take into account is considerable.

Atlanta elder law attorneys must keep their fingers on the pulse of all of the trends that are relevant to planning for aging. One of the matters that has gotten the attention of the elder law community is that of the high and rising costs associated with long-term care.

Elder financial abuse is one of the major issues that is a hot topic in elder law circles at the present time. Though it is hard for reasonable people to understand how anyone could target vulnerable senior citizens, it is something that happens with alarming frequency. The MetLife Mature Market Institute does a lot of very valuable work that shines a spotlight on matters of interest to seniors.

There is a lot more to estate planning than simply writing out a last will. As a matter fact, a lot of people find that using a last will as their primary vehicle of asset transfer is not in their best interests. There are other ways to transfer assets to your family members after you pass away, and the best combination is going to vary depending on the specific nature of your situation.

Focusing on the well being of your family is key when you are engaged in Atlanta estate planning. As we all know, making sure that your assets are transferred to your heirs in an efficient manner is at the core of the exercise. But there are other details that go along with the territory, and if you don't identify and address them you can be leaving your family members in a challenging situation.

There are a lot of things about the estate tax that many people simply can't digest, and this is why there is always pressure being applied from some quarters to repeal the tax permanently. At the top of the list is the fact that the estate tax is imposed on assets that you have been able to accumulate after paying taxes throughout your life.

Everyone who has a pulse is well aware of the fact that the federal debt is a matter of great concern. Back at the beginning of August a deal was struck to raise the debt ceiling, but it came with an agreement to reduce the deficit by $1.5 trillion over the next 10 years. A bipartisan congressional group that is being called the "super committee" is charged with the responsibility of coming up with a plan to achieve this goal.

If you are like many people, you may have been first exposed to estate planning as a young adult without necessarily even realizing it. Life insurance is one of the foundational building blocks of many estate plans, and when you start your career you are usually going to be offered life insurance as one of your benefits.

Whether you are newly married and thinking about having children, well into middle age and thinking of future grandchildren or entering your golden years and worried about your own well-being, making plans for your estate in the event of your death or incapacity is a wise decision.

Al Davis, the longtime owner of the Oakland Raiders, passed away on October 8 at his Oakland residence at the age of 82. The Raiders have fallen on hard times of late, but Al Davis crafted a legacy of winning over his 40 years as Raiders owner. The Raiders won an American Football League championship back before the merger, and after the NFL and AFL merged they captured three Super Bowl titles.

If you are one who is prone to procrastination, you are not alone. A lot of people in Fayette County place things on the back burner intending to get to them another day. We live busy lives and you have to prioritize things and this is quite understandable. But it is important to have your priorities in order.

The article outlines the rules of tax Liability in Germany. According to § 2 Erbschafts- und Schenkungsteuergestz (ErbStG) unlimited inheritance tax liability results from the fact that either the deceased or the heir is a resident taxpayer upon his death.

The article outlines the new regulations for situs taxation in Germany. Pursuant to Section 16(1) of the German Law on inheritance and gift tax (Erbschaftsteuer- und Schenkungssteuergesetz) a taxpayer is entitled to acquire up to €500 000 tax-free depending on the degree of kinship. A taxpayer is entitled to acquire up to €500 000 tax-free over a ten year period.

As some point in your life, you are likely to have an elderly loved one who is unable to fully care for himself or herself. As people in the United States live longer, the population of people over the age of 65 continues to increase. Many people now live into their 80s and 90s with a great deal of independence. Even those who are relatively independent, however, eventually need some type of assistance in most cases.

Making decisions about the kind of medical care you want to receive when you get older or become too ill to communicate is important. In Texas, you have a wide range of methods available to ensure your medical wishes are followed.

The wise course of action when you're planning for the future is to take every eventuality into account. A lot of people hear about estate planning and immediately flash on the financial aspects. Yes, making sure that your loved ones are provided for financially is one of the major goals. But there are some other things to take into consideration as well, including medical contingencies.

A lot of people call the federal estate tax the "death tax, “and many consider it a sarcastic term. Some probably do use it in this spirit, but the reality is that there is literal truth in this description.The assets that you accumulated throughout your life after paying taxes are sitting safely in the bank or otherwise invested.

When you are exposed to the estate tax you have to make a serious commitment to gain estate tax efficiency. There are a number of ways you may achieve this, and the best strategy will vary depending on the nature of your assets and what exactly you are trying to achieve. This is one of the reasons why it is a good idea to retain the services of a savvy estate planning attorney.

Sadly, many Americans have trouble with drug, alcohol, and gambling addictions However, if you have an addicted child, you don’t have to disinherit him. In most cases, disinheritance causes great emotional trauma as inheritances represent the love of a parent for a child (whether we want to admit it or not.)

One of the common goals of estate planning is staying in control; often, clients want to know if they can change their trust. The main rule is: If the trust is revocable, the trust can be changed; if the trust is irrevocable, the trust can’t be changed. There are exceptions.

Though many people don't start thinking about estate planning until later in life, there is no single best time when you should begin to plan on structuring your estate. The truth is that everyone can begin at least some part of estate planning immediately. Whether you're single, recently married, a parent or anyone else, you can get a leg up on your future by tackling estate planning issues now.

Family farms and estate planning in Ohio was a pretty hot topic at a event that I spoke at. About 125 farmers from across the state showed up to hear me and the other speakers. One thing that struck me was that most of the farmers I spoke to said they’d never met an attorney who could explain why they should do estate planning and elder law planning. In this post I want to solve that issue and explain plainly why estate planning is necessary for farmers.

I recently had the opportunity to develop an estate plan for a same-sex couple and found several effective strategies for making sure each partner could receive inheritance and make healthcare decisions for the other just as if they were a married heterosexual couple. Actually, now they are probably better protected than most married heterosexual couples, because most couples don’t have an estate plan or living trust in place.

The subject of same-sex marriage is a controversial one and the legalities surrounding these unions are always being questioned. At the present time, at the federal level marriages between people of the same sex are not recognized. Most states don't recognize marriages between gay couples either, and this would include the state of Nevada.

We have all experienced the indescribably pleasant feeling that goes along with an act of giving. Making someone else happy is a great experience because, as they say, it is better to give than to receive. However, the powers that be seem to take a dim view of giving for some reason.

Significant gifts come with a cost in the United States via the imposition of the federal gift tax. This tax is carrying a 35% rate at the present time, and any tax that consumes over a third of the amount in question is attention-getting. However, 35% looks almost good when you consider the fact that the gift tax is scheduled to rise to 55% once 2013 rolls around.

We have a federal gift tax in place, and at the present time it is carrying a 35% rate. When you think about any tax that will consume over a third of the resources in question such a high rate may get your attention. And when you are talking about a levy that is imposed when you are attempting to engage in an act of generosity this rate and the tax itself may cause you to scratch your head a bit.

Planning your estate is likely one of the most important projects you will embark upon within your lifetime. Although no two estates are the same, there are common tools that can be used during the estate planning process. Understanding these tools is an essential starting point for your estate planning project.

As the owner of a small business, you likely have enough on your plate trying to keep the business running smoothly and profitably. Without taking the time, however, to create a small business succession plan, all the time, effort and hard work you have put into growing your business could be in vain in the event of your death or disability.

Trusts are often used as part of an estate plan. Trusts offer numerous benefits to the beneficiaries of a decedent upon death such as avoidance of probate as well as potentially avoiding payment of estate taxes. Benefits to the decedent include the ability to control how the trust assets are used even after death.

Powers of attorney are legal documents you can use for any number of purposes. Powers of attorney transfer to someone else, called an attorney-in-fact or an agent, your ability to make decisions or enter into agreements. When you appoint a power of attorney, you give your agent the right to act on your behalf as a stand-in, and the decisions your agent makes are just as legally binding and enforceable as if you had made them yourself.

When you design your estate plan, don’t make your children wait for an inheritance, especially if you’re in a blended family and want to keep the peace. Having your children wait until your spouse, who is not their parent, dies, pits your loved ones against each other.

You maintain full control of all of your living trust assets, so you’ll be happy to know that you have the power to take your assets out of your living trust, so long as you are alive and well. You transfer assets out of your trust the same way you got them into your trust. You change the title (or the beneficiary designation.)

Revocable living trusts allow you to distribute your assets through written documents, similar to wills. Also similar to a will, if you create a revocable living trust, you can revoke or amend your trust to change the distribution of your trust assets.

An explanation of the legal ramifications of divorce or separation on inheritance should you or your spouse die. What happens to your Will on separation or divorce? Until your divorce is finalized the existing Will is still valid. Your spouse is probably still named as an executor and main beneficiary. You are unlikely to want this now.

A nuncupative will is an oral will. Several states allow their residents to create oral or nuncupative wills under limited circumstances. Commonly called “deathbed wills,” testators make nuncupative wills during their final hours before at least one impartial witness.

A trust is a legal type of property ownership which allows a grantor to transfer legal title to trust property to a third-party trustee. The grantor gives another person the right to manage and temporarily retain ownership of his property for his benefit. To create a valid trust, a grantor must create the trust through a written instrument.

North Dakota is only one of 10 states to adopt the Uniform Probate Code’s augmented estate concept. Augmented estates allow disinherited spouses to claim a share of their spouse’s property if they were disinherited.

One of the things you should take into consideration when planning your estate is how your family members, or former family members, may feel about your wishes. Of course you have every right to leave your assets in any manner you see fit. But to make sure that the rightful heirs to your estate don't run into problems after your death you need to do what is necessary to avoid challenges.

Your would probably be surprised if you heard that someone died without leaving behind a last will or some other type of estate planning document directing distribution of his or her assets. Many people view estate planning as a simple, basic responsibility that everyone has to engage in for the well-being of their family members. So for many it comes as a surprise to learn that not everyone understands how important it is to have an estate plan in place.

To get around the judicial process of authenticating a will, the Florida legislature enacted Section 732.503 of the Florida Statutes within the Florida Probate Code. To create a self-proving will, a testator must comply with the legal requirements to create a valid will. In addition to signing a will in front of two impartial witnesses who also provide their signatures, a testator will self-prove his will in front of a notary using a statutory acknowledgement form.