Attorney Jay Fleece Is Featured in the 24th Edition of The Best Lawyers in America©

BaskinFleece lawyer Jay FleeceBaskin Fleece partner Joseph W. “Jay” Fleece, III, was selected by his peers for inclusion in The Best Lawyers in America 2018 in the field of Trusts and Estates Litigation. Best Lawyers® is based on an exhaustive peer-review evaluation. This year, 7.4 million votes were analyzed, resulting in the inclusion of more than 58,000 lawyers in the Best Lawyers Jay Fleece24th edition. Lawyers are not required nor allowed to pay a fee to be listed. Corporate Counsel magazine has called Best Lawyers “the most respected referral list of attorneys in practice.”

To schedule an appointment with a Baskin Fleece attorney, call (727) 572-4545. For more information about Baskin Fleece, visit www.BaskinFleece.com.

 

Estate Planning and Joint Accounts: Pros and Cons.

Important Estate Planning Tip: Upon the passing of one of the joint owners of an account, the account automatically passes to the other person. However that can have many unintended consequences – find how in this 2 minute video:

For help or answers to will and estate related questions, you can contact BaskinFleece at 727.572.4545.

How Property Passes on Death.

BaskinFleece lawyer Jay Fleece

Attorney Jay Fleece

When someone dies, their property, be it real estate, bank accounts, stocks, bonds, jewelry, automobiles or whatever that person owns must pass to someone legally entitled to those assets. There are three basic ways property passes on death. Each way depends on how the particular asset is owned or titled at the time of death.

1. Probate. If someone owns an asset in his or her own name at the time of death, that asset should pass to the deceased beneficiaries that are specified in his or her will. If the decedent did not have a will, then the property owned by the decedent will pass under the laws of Probate lawyerintestacy. In other words, the state of Florida makes a will for the decedent. This doesn’t mean all of the decedent’s property passes to the state but rather to individuals depending on their relationship to the decedent.

Florida statutes 732.102 and 732.103 set forth the statutory scheme for intestate succession. For example if a man dies without a will but is survived by a spouse and children of that marriage, then the surviving spouse is entitled to the first $60,000.00 of assets and anything over that amount is equally divided between the surviving spouse and the children.

When property passes by the terms of a last will and testament or by intestate succession, the process by which this transfer is accomplished is called probate. Probate is essentially a court supervised process whereby a decedent’s property is transferred in an orderly fashion to the ones legally entitled to those assets.

trusts and estate plans2. Trusts. Some people elect to create a revocable “living” trust during their lifetime. Here, the trust assets are typically titled in the name of the trust. The grantor, the one creating the trust, has full power to change, modify and revoke the trust during his or her lifetime. After the death of the grantor, these trusts usually terminate and the disposition of the property held in the trust will be governed by the terms of the trust. These type of trusts typically contain language very similar to language used in a last will and testament, which specifies how and to whom the decedent’s property will pass. A successor trustee named in the trust document would then have the responsibility of effectuating the terms of the trust and to make sure the intended beneficiaries receive what the decedent intended. The administration of the trust is also similar to the probate process but is not subject to court supervision.

Estate expenses: The personal representative’s compensation is usually determined in one of five ways:3. By contractual provisions. Assets subject to contractual provisions pass outside the probate process and the trust process. These assets pass directly to the recipients designated in the contract that governs that asset. The most prevalent type of asset that passes by contract would be a joint bank account. Typically a bank account titled in two or more names will pass to the survivor. Other type of contractual bank accounts include the payable on death account, or the “held in trust for …” account, a Totten trust as these types of accounts are sometimes called. Other forms of contractual arrangements which pass property directly to a named beneficiary include life insurance policies, retirement accounts and annuities.

Why someone should engage in estate planning. While each of these areas are discussed in greater detail in other articles, this basic outline should illustrate how important it is to make sure that you understand how your assets are titled and how they will pass on death. The unintended consequences of improperly titling your assets could have a devastating effect on your estate plan. For those with substantial wealth, estate planning from a tax perspective can save on income and estate taxes.

To schedule an appointment with a BaskinFleece attorney, call (727) 572-4545. For more information about BaskinFleece, visit www.BaskinFleece.com.

This blog is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.

BaskinFleece was Named One of the Best Law Firms …

U.S. News… in US News & World Report’s 2017 rankings, receiving a tier two distinction for the Tampa metro area in the field of trusts and estates litigation. Firms included in the list are recognized for “professional excellence with persistently impressive ratings from clients and peers.” Selection is based on lawyer and client evaluations, peer review from leading attorneys, and review of additional information provided by the law firm. To be eligible, firms must also have at least one lawyer listed in the 19th edition of The Best Lawyers in America.

personal representative feeBaskinFleece handles trust litigation, probate litigation, and guardianship litigation cases in St. Petersburg, Tampa, Clearwater, and throughout Florida, from the pre-suit stages – including mediation – all the way through trial, both jury and non-jury, and at the appellate level, if necessary. In addition, the firm assists clients with estate planning from the drafting of a simple will to complex tax planning and wealth transfer matters for high-asset estates. BaskinFleece handles all aspects of probate and trust administration as well, accomplishing the process capably, competently, and in a timely fashion for the benefit of heirs, beneficiaries and all parties involved.

BaskinFleece also provides legal services related to real estate and business law, both transactional and litigation.

In all matters, the client is and remains the firm’s main focus. Aspects of litigation such as cost, emotional impact and timeliness are all important to the client, and the firm strives for an end result which leaves the client feeling that justice was accomplished in an efficient and effective manner.

For related help, you can contact BaskinFleece at 727.572.4545.

Contested Guardianship, Probate, Trusts, and Fiduciary Litigation

BaskinFleece is a trusts and estates law firm centrally located in Pinellas County, just minutes from the courthouses in St. Petersburg, Clearwater and Tampa. The firm primarily deals with controversies involving estates, trusts, wills and guardianships in Tampa, St. Petersburg and Clearwater. BaskinFleece routinely deals with estate planning and litigation matters, including issues concerning the validity of wills and trusts, breach of fiduciary duty, lack of capacity, spousal rights, creditors’ rights and anything related to wills, trusts and guardianships.

BaskinFleece – Areas of Litigation:

Probate LitigationProbate and Estates Probate litigation encompasses all forms of contested matters arising in a probate matter. Some of the contested issues in Florida probate law resulting in litigation, include the validity of the decedent’s last will and testament; construing the terms of an ambiguous will; spousal share election under the elective share statute; pretermitted spouse and child issues; excessive fiduciary or attorneys’ fees; creditor claims; breach of fiduciary duty by the personal representative; improper accountings; recovery of estate assets and a plethora of other potential issues involving wills and trusts.

Trust LitigationTrusts – Many of the same contested issues in a probate estate also exist in trust matters. The main difference is that an independent civil action needs to be filed in order to invoke the jurisdiction of the court and have summonses issued to the Defendants. As Florida trust administration is not court supervised, it is up to the beneficiaries, rather than the probate judge, to make sure the trustee is discharging his duties in accordance with the trust terms and with the law. For the most part the only way a beneficiary can review what the trustee has done is through the annual accounting which the trustee must provide each qualified beneficiary every year. If the accounting is not provided, the trustee has breached his fiduciary duty to keep beneficiaries informed, which could result in litigation. There are many other fiduciary duties imposed upon a trustee which, if violated, subject the trustee to removal, surcharge or other remedies imposed by the courts. Our lawyers have handled a variety of wills and trust litigation in the courts of Tampa, St. Petersburg, Clearwater and throughout Florida.

Fiduciary Litigation in ClearwaterFiduciary – Fiduciary litigation usually involves actions with trustees, personal representatives and agents holding a power of attorney for a principal. A fiduciary is a position of trust held to the highest standard of care. A fiduciary has many duties including the duty of loyalty and a duty of impartiality in the administration of wills. A fiduciary is prohibited from putting his own personal interest ahead of the person to whom he owes a duty. Fiduciary litigation in Florida can also arise in many other contexts including business relationships, partnership relationships and any other manner in which a fiduciary relationship is established.

Guardianship LitigationContested Guardianship – BaskinFleece handles all aspects of contested guardianship litigation in Clearwater, St. Petersburg, Tampa, Pinellas County and throughout the state of Florida. Contested guardianships are those which involve either the establishment of a guardianship or situations where the alleged incapacitated person may not in fact be incapacitated, or reasonable alternatives to a guardianship exist. Litigation; many cases are filed to prevent the exploitation or further exploitation of an individual, often a loved one, by someone who has taken over the financial, medical and social affairs of an individual who is incapacitated and unable to resist the undue influence of others. The Order Determining Incapacity may result in the loss of substantial Civil Rights, including the right to vote; to determine one’s own medical treatment; to handle one’s own financial affairs; to make a will, change a will, gift or disposition of property; to determine one’s own residence; and to travel unsupervised, to name but a few. The filing of a guardianship, while unfortunate, is often the only means to stop the financial exploitation and wrest control away from the exploiter, who can be a stranger, but may also be a neighbor, caregiver, friend, or even a family member.

In all matters, the client is and remains the firm’s main focus. Aspects of litigation such as cost, emotional impact and timeliness are all important to the client, and the firm strives for an end result which leaves the client feeling that justice was accomplished in an efficient and effective manner. For help or answers to litigation related questions, you can contact BaskinFleece at 727.572.4545.

April 1st – This Day in History: BaskinFleece Became One!

Jay Fleece and Hamden Baskin

Attorneys Jay Fleece and Hamden Baskin

April 1, 2004 – Joseph W. “Jay” Fleece, III, and Hamden H. Baskin, III, decided to combine their extensive knowledge and experience to create a unique law firm that was focused mainly on contested estate, trust and guardianship matters. Their philosophy was simple: leverage trial skills with the knowledge of probate and trust law to provide consistent, efficient and effective representation for their clients – resulting in positive outcomes. Congratulations to Jay Fleece, Hamden Baskin and their team for serving the community and its clients since 2004.

In addition to the formation of BaskinFleece, here are other interesting and historical events that happened on April 1st:

Estate expenses: The personal representative’s compensation is usually determined in one of five ways...April 1, 1778 – Creating this icon made sense: New Orleans businessman Oliver Pollock creates the “$” symbol.
April 1, 1789  The US House of Representatives had it’s first full meeting in New York City, and F. Muhlenberg is the first Speaker of the House.
April firstApril 1, 1970  Cigarette advertising was banned and signed into law by President Richard Nixon. Here’s a classic ad featuring Ronald Reagan endorsing Chesterfield cigarettes.
April 1, 1985 – 47th NCAA Men’s Basketball Championship: Villanova beats Georgetown 84-75
April 1, 1970 AMC introduced the Gremlin, one of the first sub compact cars way back in 1970, before many realized gas prices would be a critical factor in future car buying. The car cost $1,879. Car imports were just starting to have an impact on the US market including the Volkswagen Beetle and the new generation of Japanese imports like the Datsun.

You can contact BaskinFleece on, before, or after April 1st at 727.572.4545.

Probate and Trust Administration Challenges

Trust Administration
BaskinFleece handles all aspects of probate and trust administration.
 
Trust administration is that process whereby assets and cash which were funded into a revocable or irrevocable trust during the decedent’s lifetime or “poured into the trust after his or her passing”, are marshaled/gathered and made ready for distribution to the beneficiaries named in the trust. Trust administration also requires the filing of a notice of trust with the probate court and is the process whereby creditors are paid, and after all state and federal tax returns are filed and all creditors and other administrative expenses are paid, the trustee makes a final distribution of the trust assets and cash. The process is similar to Florida probate administration, but there is no circuit judge supervising the administration, nor is a fiduciary bond usually posted, and many times it can be accomplished more efficiently, and thereby cheaper and faster, than a full probate administration.


trusts and ProbateMany of the same contested issues in a probate estate also exist in trust matters.
 
The main difference is that an independent civil action needs to be filed in order to invoke the jurisdiction of the court and have summonses issued to the Defendants. As Florida trust administration is not court supervised, it is up to the beneficiaries, rather than the probate judge, to make sure the trustee is discharging his duties in accordance with the trust terms and with the law. For the most part the only way a beneficiary can review what the trustee has done is through the annual accounting Estate expenses: The personal representative’s compensation is usually determined in one of five ways:which the trustee must provide each qualified beneficiary every year. If the accounting is not provided, the trustee has breached his fiduciary duty to keep beneficiaries informed, which could result in litigation. There are many other fiduciary duties imposed upon a trustee which, if violated, subject the trustee to removal, surcharge or other remedies imposed by the courts. Our lawyers have handled a variety of wills and trust litigation in the courts of Tampa, St. Petersburg, Clearwater and throughout Florida.

BaskinFleece lawyer Jay Fleece

Attorney Jay Fleece

BaskinFleece handles cases from the pre-suit stages, including mediation, all the way through trial, both jury and non-jury, and even at the appellate level, if necessary. The main focus of the firm in dealing with all controversies is the client. Cost, emotional impact and timeliness are all important to the client and the firm strives for an end result which leaves the client feeling that justice was accomplished. For help or answers to estate-related questions, you can contact BaskinFleece at 727.572.4545.

 

This blog is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.