Author Archives: Jay Butchko
What are the Grounds for Contesting a Will?
Usually, a will streamlines the probate process. A will clarifies the wishes of the testator (person who makes a will), so the estate goes to designated beneficiaries. However, wills aren’t always crystal clear. More than one version of a will may be floating around, or someone may “discover” a hidden codicil. Or, a will… Read More »
What You Should Know About Family Trusts
One of the main reasons people make trusts is to simplify the asset distribution process. A family trust may be the best way to achieve this goal. These vehicles, like other trusts, have other advantages as well. They avoid probate with its costs and publicity. Trusts also shield assets from creditors, are harder to… Read More »
What Does Trust Execution Mean?
Trust execution means, wait for it, the process of executing a trust. Many estate planning documents are fire-and-forget self-executing documents. But a trust document is not just a piece of paper, much like a property deed isn’t just a piece of paper. A property deed proves ownership of real property and establishes some rights… Read More »
Do I Need a Real Estate Closing Lawyer?
Many people don’t think they need a lawyer at a residential real estate closing because they’re just signing papers. This assessment is partially true. In Florida, an escrow or title agent handles most basic closing procedures. So, in many cases, people who are making small, uncomplicated purchases, like starter homes in ready-to-occupy condition, frequently… Read More »
Top Five Ways to Protect Wealth
Preserving wealth and ensuring a legacy is one of the main reasons people make estate plans. Usually, middle-income families need wealth preservation plans more than higher-income families. For a family of modest means, any wealth, such as a house, has an emotional value that far exceeds its financial value. Time, not money, is usually… Read More »
Speeding Up the Probate Process in Florida
Every estate must go through the probate process. This process transforms non-court documents into enforceable court orders. For various reasons, the probate court filing rate is much higher than the disposition rate. In other words, Florida’s probate courts are seriously backlogged. Some tips and tricks could help move a particular probate case closer to… Read More »
Top Five Asset Protection Strategies
Everyone is rich. Most college graduates earn almost $3 million over the course of their working lives. Obtaining money isn’t that difficult in most cases. But holding onto that money is a different matter. Most people spend almost as much as they earn on housing and other basic living expenses. They usually splurge a… Read More »
How Does a Real Estate Closing Work?
The real estate closing may be the most critical part of the changing real estate transaction process. At a closing, real estate title officially changes hands from the seller to the buyer. Contrary to popular myth, a real estate closing is a process, not a single meeting. More on that below. If every step… Read More »
What is the Estate Planning Process?
The percentage of Americans who go through the estate planning process has plummeted in recent years, all the way down to 26 percent. The reasons for the sharp decline are unclear. Most likely, however, people don’t believe they have sufficient assets to protect and believe the estate planning process is too complicated to undertake…. Read More »
How Much Money As a Gift is Taxable?
As of January 1, 2025, the annual IRS gift tax exemption is $19,000. Donors (givers) can give this amount every year to one person without filing Form 709, the United States Gift (and Generation-Skipping Transfer) Tax Return. Annual gifts over $19k may not be subject to tax, because of the $13.99 million per individual… Read More »