Legal | Senior Scene Magazine

When should a Beneficiary’s inheritance be held in trust?

by Senior Scene | Oct 31, 2022 | Financial Advice, General Interest, Legal, Magazine, Top Story (B)

When should a Beneficiary’s inheritance be held in trust? By Attorney Truman Scarborough An inheritance does not need to be distributed directly to a beneficiary. It can be placed in a trust where the funds can be managed and controlled by a trustee for the heir’s...

Who has to pay the bills when someone dies?

by Senior Scene | Sep 30, 2022 | Featured Article (04), Financial Advice, General Interest, Legal, Magazine

Who has to pay the bills when someone dies? By Attorney Truman Scarborough No one is obligated to pay a decedent’s debts unless he/she has agreed to be personally responsible. Paying the decedent’s creditors is part of the probate process with beneficiaries of...

When is probate the better way to settle an Estate?

by Senior Scene | Aug 31, 2022 | Featured Article (04), Financial Advice, General Interest, Legal, Magazine

When is probate the better way to settle an Estate? By Attorney Truman Scarborough Probate is required when property is titled just in the decedent’s name without any beneficiaries. A will by itself does not transfer property to the heirs. Probate is needed to...

What should be considered when excluding a child in your estate plan?

by Senior Scene | Jul 31, 2022 | Featured Article (04), Financial Advice, General Interest, Legal, Magazine

What should be considered when excluding a child in your estate plan? By Attorney Truman Scarborough Except for certain rights minor children have in the home, Florida Law does not require that any part of your estate go to your children. This is not the case with...

Can adding children’s names to property create problems?

by Senior Scene | Jun 30, 2022 | Financial Advice, General Interest, Legal, Magazine, Top Story (B)

Can adding children’s names to property create problems? By Attorney Truman Scarborough In the last article, we looked at issues that should be considered before making outright gifts to children. Problems can also be encountered when children are made co-owners of...

What needs to be considered before making lifetime gifts?

by Senior Scene | May 31, 2022 | Featured Article (05), Financial Advice, General Interest, Legal, Magazine

By Attorney Truman Scarborough A comprehensive description of estate planning would include the accumulation, preservation, and gifting of property. While most of our lives are devoted to the acquisition and preservation of assets, in time the focus shifts more to...