How to Avoid Probate in Florida

 

Avoid Probate in Florida

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You probably have heard some horror stories of how when somebody died that intended to leave his/her property to their kids, that they couldn’t because all the costs involved in long litigation, there is a way to avoid this consult with a probate attorney.

What Happens During Probate

During probate, the court appoints a personal representative, also known as an executor, to oversee the administration of the estate. 

The personal representative is responsible for inventorying and valuing the deceased person's assets, paying any debts or taxes owed by the estate, and distributing the remaining assets to the beneficiaries named in the will or, if there is no will, to the heirs according to state law.

If the deceased person owned a home, it may be subject to probate and be included in the distribution of the estate's assets. If the home is not specifically bequeathed to a specific beneficiary in the will, it may be sold and the proceeds distributed to the beneficiaries according to the terms of the will or state law.

It is important to note that the probate process can be time-consuming and costly, as it involves court fees and legal expenses. It is possible for a person to lose their home as a result of probate if they are unable to pay these expenses or if the home is sold to cover the costs of the probate process.

Some Ways to Avoid Probate in Florida

Probate is the legal process of administering a person's estate after they die. If you want to avoid probate on your home, there are a few steps you can take:

Hold the property in joint tenancy: If you own your home with another person as joint tenants, the right of survivorship means that the surviving owner automatically becomes the sole owner of the property when the other owner dies. This can help avoid probate because the property does not need to go through the probate process to transfer ownership.

Hold the property in a trust: Another way to avoid probate is to hold the property in a trust. A trust is a legal entity that holds legal title to property on behalf of a beneficiary. If you create a trust and transfer ownership of your home to the trust, the property will not need to go through probate to transfer ownership to the beneficiaries named in the trust.

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Use a transfer-on-death deed: Some states allow you to use a transfer-on-death deed to transfer ownership of your home to a beneficiary after you die. This deed is similar to a will in that it specifies who should receive the property when you die, but it avoids the probate process because it takes effect immediately upon your death.

Use a life estate: A life estate allows you to retain the right to live in and use your home for the rest of your life, while also transferring ownership to a beneficiary upon your death. This can help avoid probate because the beneficiary becomes the owner of the property immediately upon your death, without the need for probate.

It's important to note that each of these options has its own legal and financial implications, so it's a good idea to consult with a real estate attorney or financial advisor to determine the best option for your circumstances.

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How to Take Title when Buying a Home in Florida

 

How to Take Title when Buying a Home in Broward FL

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5 Different ways to take title when buying a home in Florida, there are several ways to title a home when purchasing it. Here are a few common options:

Sole ownership: If you are the only person purchasing the home, you can take title as a sole owner. This means that you will have full ownership and control of the property.

Joint tenancy: If you are purchasing the home with another person, you can take title as joint tenants. This means that each person has an equal ownership interest in the property and the right of survivorship, meaning that if one owner dies, the other owner automatically becomes the sole owner of the property.

Tenancy in common: If you are purchasing the home with another person, you can also take title as tenants in common. This means that each person has an equal ownership interest in the property, but there is no right of survivorship. If one owner dies, their ownership interest passes to their heirs or beneficiaries.

Community property: If you are married and purchasing a home in a community property state (such as California), you can take title as community property. This means that the property is owned equally by both spouses and any debts incurred during the marriage are also considered community debts.

Trust ownership: If you want to hold the property in a trust, you can take title to the property in the name of the trust. This can be useful for estate planning purposes or to protect the property from creditors.

It's important to consider the legal and financial implications of each option when deciding how to title your home. It's a good idea to consult with a real estate attorney or financial advisor to help you make the best decision for your circumstances.

See Details, I will Contribute 10% of my Commission towards your Closing Costs for an Existing or a New Home, which is the same as Cash!

Thank you for the trust placed in me,

Antonio Ortega LLC

                   
        

www.AntonioOrtegaLLC.com     For Residential Properties

www.AntonioOrtegaLLC.net       For Commercial Properties
        

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Fort Lauderdale Invest in a Bed and Breakfast Business

 

Bed and Breakfast Business Fort Lauderdale Florida

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Other than doing personal advertising you can also do Airbnb, VRBO and other short term rentals where permitted and hire a property management company to handle everything for you. 

 

Cost of Ownership

 

There are many costs that go into a vacation rental. The first is the cost of the home, which can be as little as $500,000 to several million dollars or more, depending on where you plan to buy. Like your primary residence, you’ll also have taxes, insurance, maintenance, and more. However, unlike the place you call home, you may also need to pay for a vacation rental service.

Information Videos on Real Estate for the Fort Lauderdale Broward FL

 

There Are Highs and Lows

 

If you’ve ever been on a vacation during “peak” season, you already know that some times are busier than others. Although, as the Fort Lauderdale Stays blog smartly points out, spring and fall might have the best weather, as these avoid the storms of summer and the mild (meaning fewer water days) temperatures of winter. Plan your rental rates accordingly. You can charge more in the summer but reduce your fees during the winter. You may only be able to rent it out enough to pay the mortgage, and that’s okay because your big money-maker days are ahead.

 

Setting up a bed and breakfast (B&B) business can be a complex process, but it can also be a rewarding and profitable venture. Here are some steps to consider when starting a B&B:

Research the market: Investigate the competition in your area and find out what types of B&Bs are popular. Determine what sets your B&B apart from others.

Create a business plan: Outline your goals, target market, pricing strategy, and marketing plan. A well-written business plan can help you secure funding and stay on track.

Obtain financing: Depending on the size and location of your B&B, you may need to secure funding from a bank, investors, or crowdfunding platforms.

Purchase or rent a property: Look for a property that is suitable for a B&B, with enough space for guests and common areas. Consider the location and whether it is easily accessible by public transportation.

Renovate and decorate: Make any necessary renovations and decorate the property to create a welcoming and comfortable atmosphere for guests.

Obtain necessary licenses and permits: Check with your local government to see what licenses and permits are required to operate a B&B.

Market your B&B: Create a website, social media presence, and listing on online travel booking sites. Reach out to local travel agents and tour operators to promote your B&B.

Develop a pricing strategy: Decide on daily rates, seasonal rates, and special offers to attract guests.

Hire staff: If you plan to have a large B&B, you will need to hire staff to help with cleaning, cooking, and other tasks.

Continuously improve: Continuously improve your business by getting feedback from guests and adjusting your services to meet their needs.

Please note that these are general guidelines, and you will have to check the specific regulations and laws in your country and area.

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Antonio Ortega LLC

                   
        

www.AntonioOrtegaLLC.com     For Residential Properties

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Build your Immune System

 

Boost your Immune System

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I wondered how we can build up our immune system. Here are some things I found out:

News flash: the biggest drains on our immune system are stress, aging, poor nutrition, lack of proper rest and lack of exercise. The first two we can’t do anything about, but the last three are another story. So, the issue becomes how do we build our immune systems to adequately deal with the inevitable? Nowadays, people tend to look for the answer in pill form. Some swear by Echinacea and ginseng, but studies on both are inconclusive. Like anything else worthwhile, some work is involved.

“The most important thing you can do is to actually stay very healthy," says David L. Woodland, an immunologist at the Trudeau Institute, a nonprofit research center in Saranac Lake, N.Y. "The immune system is directly related to your general state of health."

Woodland says the biggest drain on our immune systems in the modern age is stress. Where our ancestors faced the fight-or-flight response for short bursts, we are subjected to those same brain chemicals for extended periods of time. These chemicals, most notably cortisol, suppress our immune systems.

Stress-relieving activities are more important than ever for good health. These include such things as meditation, exercise, spending time with friends, taking time off from work. Taking the pressure off the immune system helps it build up, Woodland says.

 

Adequate sleep recharges your immune system, and most people don’t get enough nowadays. Recent studies have shown that children don’t get as much sleep as they used to, due to parents having to take the kids to childcare as early as 6 a.m. in order to get to work on time. Working parents tend to let their kids stay up later as well, so they can spend more time with them.

Elderly people have problems with sleep too, but for different reasons. Dr. Janet McElhaney, a geriatrician at the University of Connecticut Health Center in Farmington, says that elderly bodies tend to cool down too early in the morning, awakening them at around 3 a.m. "We recommend that older people not turn down their thermostats at night, or [to] use electric blankets or take a hot bath at night," she says.

In addition, after age 70, the immune system begins to decline, according to McElhaney. While people tend to get fewer colds as they get older, since their immune systems have developed defenses against many strains of cold virus, “the immune system decline outweighs the benefits you’ve been accruing,” says Woodland.

Older people also have more difficulty getting all the nutrients they need. McElhaney says protein is of particular concern, which has a direct effect on the blood cells in the body that fight infection. Taking a multivitamin in addition to beefing up protein intake can really make a difference.

 Again, kids are at risk for poor nutrition as well, which adds to sick days. Dr. Michael Frogel, chief of the division of general pediatrics at Schneider's Children's Hospital of Long Island Jewish Medical Center in New Hyde Park, N.Y., says good nutrition is a must for kids year-round. "Many kids who go to school don't eat breakfast, and that's not a good thing," he says.

Good nutrition is a must for kids year-round, says Frogel, and that kids, like adults, need plenty of sleep and regular exercise. Watching more than two hours of TV a day has been shown to promote obesity in kids: "Even if you're watching TV, get up and move around."

Good nutrition does not mean more food—quite the contrary. Losing weight can help build immunity, according to a study by Tufts University's Friedman School of Nutrition Science and Policy. When a group of adults with high cholesterol lost weight on a low-fat diet, most also showed evidence of improved immune function.

Writing for www.123relax.com, Carrie Angus M.D. strongly recommends whole, fresh foods. “Fruits, vegetables, and grains have a very strengthening effect on our immune function,” she says. “So strong is this correlation, in fact, that the National Institutes of Health have developed a Designer Foods Program to study the cancer-preventing effects of cruciferous vegetables (like broccoli and cauliflower). Fresh foods not only carry a diverse mixture of vitamins and trace minerals absent from most processed foods, but they also have vitality.”

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