Legal FAQs, Page 5

What Is a Decedent’s Interest in a Homestead?

A decedent's interest in a homestead is the ownership they held in their primary residence at death. It passes under their will or state intestacy law, subject to homestead protections for a spouse or minor children.

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Wills & Trusts

What Distinguishes a Will from a Trust?

A will takes effect only at death and generally must be admitted to probate to transfer the property it controls. A funded trust can take effect during life and generally keeps its assets out of probate.

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Probate

Who Pays Probate Attorney Fees?

Probate attorney fees are normally paid out of the assets of the estate. Beneficiaries sometimes have to advance the cost when the estate has no liquid funds, then seek reimbursement from the estate later.

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Probate

What Constitutes the Formal Probate Threshold in Florida?

Since July 1, 2026, a Florida estate can use summary administration, a shorter form of probate, when the property subject to administration in Florida, minus property exempt from creditors, is worth $150,000 or less. It is also available when the person has been deceased for more than 2 years. Summary administration still goes through the court, but it usually takes less time than formal administration.

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Real Estate

Are Foreign Principals Permitted to Own Property Near Military Bases?

Generally no. Florida law bars foreign principals from buying real property within 10 miles of a military installation or critical infrastructure facility. Owners from before July 1, 2023 had to register with the Florida Department of Commerce.

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Real Estate

How Does Senate Bill 264 Affect the Purchase Of Agricultural Land?

Senate Bill 264 bars foreign principals from buying Florida agricultural land, and buyers must sign an affidavit that they are not one. A foreign principal that owned such land before July 1, 2023 may keep it.

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Real Estate

What Is Senate Bill 264 in Florida?

Senate Bill 264, effective July 1, 2023, limits and regulates the sale, purchase, and ownership of certain Florida property by foreign principals, including agricultural land and land near military installations.

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Real Estate

What Restrictions Apply to the People's Republic of China (PRC)?

Florida law bars the PRC, its political parties, PRC based entities and certain PRC domiciled persons from buying Florida real property, with a narrow exception for one home up to 2 acres. Buyers sign an affidavit at purchase.

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Business

How Does an LLC Agreement Improve Operations and Resolve Conflicts?

An LLC operating agreement sets out each member's role, profit and loss share, and voting rights, which reduces misunderstandings. It also fixes the procedures for settling internal disputes.

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Business

Why Is an LLC Operating Agreement Essential for Business Operations?

An LLC operating agreement sets the rules among members and managers and can address a member's interest at death. Limited liability comes from Florida law, not the agreement.

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Probate

What Are the Costs Associated with Probate in Florida?

Florida probate costs include court filing fees, attorney's fees, personal representative's fees, and expenses such as appraisals and creditor notices. The total depends on the size and complexity of the estate.

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Business

What Is an EIN Number?

An EIN, or Employer Identification Number, is a unique nine-digit tax identification number assigned by the Internal Revenue Service (IRS) to businesses and organizations operating in the United States.

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Business

What Defines a C-Corp?

A C-Corp is a corporation taxed under Subchapter C of the Internal Revenue Code. It offers limited liability, perpetual existence, and stock ownership, but profits are taxed at both the corporate and shareholder level.

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Wills & Trusts

Is Notarization Required for a Will in Florida?

No, a will does not need to be notarized in Florida to be valid. However, notarizing the will can make it easier to probate the estate after the person's death.

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Business

What Constitutes a Business Resolution?

A business resolution is a formal written decision by a company, board, or organization. It records actions such as changing policies, allocating funds, or approving projects, and is usually passed by a majority vote.

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Estate Planning

What Is a Health Care Directive?

In Florida, an advance directive can include a living will, a health care surrogate designation and an anatomical gift. It records an individual's medical wishes for a time when that person cannot decide.

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Wills & Trusts

What Is a Trust?

A trust is a legal arrangement in which a trustee holds and manages assets for beneficiaries under the terms of a trust agreement. Trusts are used to pass on wealth, reduce taxes, and protect assets.

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Civil Litigation

What Differentiates a Litigator from an Attorney?

Attorney is the general term for a licensed lawyer. A litigator is an attorney who takes cases to court, argues motions, and negotiates settlements. All litigators are attorneys, but not all attorneys are litigators.

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Civil Litigation

What Does Civil Litigation Encompass?

Civil litigation is the process of resolving disputes between people or businesses in civil court, usually over money or property. It covers contract, personal injury, and employment disputes, among others.

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Probate

Can a Property Remain in the Name of a Deceased Individual?

A Florida home can pass after the borrower's death with the mortgage in place. Federal law bars the lender from calling the loan for certain death and family transfers of an occupied home.

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