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For example, in cases of divorce where minor children are involved, a court may require an ex-spouse to be named as an irrevocable beneficiary to ensure the children’s financial protection.
In Olins v Walters [2009] 2 WLR 1 C.A. [6] the Court of Appeal has held that although it is a necessary condition for mutual wills that there is clear and satisfactory evidence of a contract between the testators, it is a legally sufficient condition that the contract provides, in return for one testator agreeing to make a will in a particular ...
In this technique, each spouse creates a trust and divides their assets (usually evenly) between the two trusts. The terms of the credit shelter trust provide that upon the first spouse's death, the other is left an amount in trust for the benefit of the surviving spouse up to the current federal exemption equivalent to the federal estate tax.
After widespread litigation and media coverage surrounding the Terri Schiavo case, estate planning attorneys often advise clients to also create a living will, which is a form of an advance directive. Specific final arrangements, such as whether to be buried or cremated, are also often part of estate plan documents.
Revocable trusts offer benefits such as the ability to be easily amended, saving time and money by avoiding probate court, while irrevocable trusts offer the benefit of minimizing estate taxes and ...
The Florida Constitution, in Article V, Section 2(a), vests the power to adopt rules for the "practice and procedure in all courts" in the Florida Supreme Court. [1] The Florida Supreme Court adopted the Florida Rules of Civil Procedure in March 1954. [2] The proper abbreviation for the rules is Fla.R.Civ.P. [3] The rules may be amended, or new ...