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Question on Trusts

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  #11  
Old 02-11-2018, 12:07 PM
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manaboutown manaboutown is offline
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Might as well weigh in here... CA is a community property state whereas Florida is not. This may or may not affect your situation.

While there is a rule of thumb that a trust is honored in another state if it is valid in it's state of origin, this is not always the case.

Also is it a revocable living trust or an irrevocable trust? It is probably the former as most folks in CA use them to avoid probate costs, especially on real estate.

As mentioned hereinabove trusts and wills are different animals.

IMHO don't be pennywise and pound foolish. If you plan to permanently relocate to Florida find a reputable and capable local estate/probate lawyer.
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  #12  
Old 02-11-2018, 12:13 PM
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Henryk Henryk is offline
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Quote:
Originally Posted by villagetinker View Post
I agree with above, especially the medical POA, but up North this was 2 or 3 pages, down here i think it is 19 pages! We used Amy Pittman, very pleased with her work. Also, when you meet with her or another attorney double check any other financial documents and wills as there maybe conflicts.
Would also recommend Amy Pittman.
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  #13  
Old 02-11-2018, 02:00 PM
Bogie Shooter Bogie Shooter is offline
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Quote:
Originally Posted by suesiegel View Post
Thanks-you've moved a will rewrite a bit further up on our priority list.
RE: your trust question.
Do you have your current Villages home in your will-I know we do not.
Your TRUST, they are usually set up for tax reasons. Not sure how the new tax bill effects your or our tax issues.

As suggested by others-probably a good idea to have it reviewed.

PERSONAL EXPERIENCE-my parents passed away several years ago. Unfortunately, at that time there was a lot of tension between my sister and myself. My parents did not have much but, each item they had of any value was stated who it goes to. As stated we already had issues between my sister and myself. I was so happy that my parents split their estate evenly and in a moment of grief
with rattled nerves there was no disputes.
As to updating your will-my niece who was not born at the time the will was last updated UNFAIRLY was left nothing.
I have an inherited IRA complete with the forced withdrawals. A gift that keeps on giving. I. as forced to, take the minimum withdrawal and give it to my niece.
What is the reason to leave a big asset like a house out of a will?
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  #14  
Old 02-11-2018, 07:22 PM
tom_sjc tom_sjc is offline
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Two references for Amy Pitman. I will contact her and post her response.
  #15  
Old 02-11-2018, 07:39 PM
vintageogauge vintageogauge is offline
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Put everything in your revocable trusts and you won't have to worry about a will. You still have access to your assets but they don't have to go through probate as when you die whomever you assigned as successor trustee handles your trust for you.
  #16  
Old 02-11-2018, 10:22 PM
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I had an existing Florida trust and had it reviewed by Michael Millhorn for free. He created a new, expanded Durable Power of Attorney for me and gave me a living will for free. Can’t beat it. Honest man who will tell you the truth about what you need. He is Eric Millhorn's uncle. Amy Pittman was trained by Eric. Have heard all good things about her as well. Depending on your needs, you can’t go wrong with any of these choices.
  #17  
Old 02-11-2018, 10:27 PM
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Originally Posted by vintageogauge View Post
Put everything in your revocable trusts and you won't have to worry about a will. You still have access to your assets but they don't have to go through probate as when you die whomever you assigned as successor trustee handles your trust for you.
Huh?
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  #18  
Old 02-11-2018, 10:40 PM
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In general estate related documents drawn in another state are ok in Fl. But you can have problems. The executor may not be valid in Fl. The way the documents were signed maybe legal but cause a lot of problems in finding witnesses. POA laws changed in FL and although they say old POA are valid you may have a problem getting a FL institution to accept them.

The trust is probably ok but the real question is do you need one. Also if you home is in the trust you could have problems with the various homestead laws. Property title has to be drafted correctly and the trust may have to be modified to comply with FL homestead laws or you will not get all the benefits.

Also ask the attorney about the title to your home and who has possible rights to it when you die.

Last edited by rjm1cc; 02-21-2018 at 08:14 PM.
  #19  
Old 02-12-2018, 04:18 AM
brislenn brislenn is offline
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You need to go and talk to the Millhorn Law Firm on 27/441 across from Walkmart. They set up my trust and I had another lady go and talk to them and she found out that because she already had a trust from another state that the fee would be greatly reduced. I understand that wills and trusts from other states must be redone by Florida lawyers. Phone Number: 352-753-9333. Eric Millhorn was the one that we talked to but I dfon't think it would really matter.
  #20  
Old 02-12-2018, 07:05 AM
spexdr spexdr is offline
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My father used Milhorn Law to add an additional trustee and was charged $250. I think that’s a lot for doing a little. This was 5 yrs ago.
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