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Astrid de Parry, Esq.
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Providing exceptional service to discerning clients in Central Florida for over 25 years.
Providing exceptional service to discerning clients in Central Florida for over 25 years.

95 followers
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Joined forces with Wendy A. Mara at Mara & de Parry, P.A.
Check out our new website: www.maradeparrylaw.com
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Vote for DeLand as the best Mainstreet in America:
www.parade.com/mainstreet
Voting ends at midnight.
Come on people!  Let's show them what we have to offer in DeLand.
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Another day in paradise!
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2014-04-28
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I am very pleased to announce that Ellen Goldstein Koven has earned her designation as a Florida Registered Paralegal (FRP).
Congratulations Ellen!
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Dan Gunderson at the Polk Museum of Art, March 21, 2014, with Astrid de Parry, Bill and Terri Booth and Tanner Gunderson.
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2014-03-23
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The Proposal.
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Thanks to Sandy Williams and Tariq Gibran for my new profile picture.
You guys rock!
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PROBATE - A FATE WORSE THAN DEATH?

 Probate is a lot like bankruptcy except that you don't get a second chance to start over again.  Like the trustee in bankruptcy, the personal representative in a probate proceeding has a duty to marshal the assets of your estate, identify all known creditors, pay legitimate claims and then distribute the remaining estate to the appropriate parties.  In both cases, there are strict rules for determining the priority of claims and the order of distribution.  Typically, the attorneys get paid first, then the other creditors and finally, the beneficiaries get what's left.

 Probate provides peace of mind

 There is no question that probate can be a long and costly process.  So why do it?  The main reason is to bar claims against the estate not filed within 3 months after publication of a Notice to Creditors.  If you don't go through probate, your heirs or beneficiaries may be liable for creditor's claims for up to two years after your death.  Probate provides peace of mind by dealing with the claims of creditors before anyone gets too attached to your money.

 Does a trust avoid creditors?

 Some people seem to think the creditors will get nothing if they put everything in a living trust.  That is simply not true!  By law, the trustee of a revocable living trust has to fork over whatever it takes to pay legitimate claims of the grantor's creditors if the assets subject to probate administration are not sufficient to pay those claims.  The trustee also has to file a Notice of Trust with the court of the county having jurisdiction of the grantor's estate and/or where the grantor was domiciled at the time of death.

 It’s essential to fund living trusts

 A lot of people have turned to living trusts as a good way to avoid the expense and delay of probate.  While it is certainly true that living trusts can be an effective alternative to probate, many people fail to accomplish their main objective by forgetting to put all their assets in trust.  In that case, the missing assets may have to be distributed by will or intestate succession and that means you are back in Probate Court again.  That is why many attorneys recommend a "pour-over will" to sweep up any missing assets into the living trust.

 What is “summary administration”?

 There are several ways to reduce the cost and delay of probate.  For example, you don't need a personal representative if the total value of your estate is less than $75,000.00 and all your beneficiaries or heirs at law agree on who should get what.  This is called "summary administration" and allows for the immediate distribution of all listed assets to your designated beneficiaries or heirs at law.

 Proper planning saves turmoil later

 If your estate does not qualify for summary administration, you can still reduce some of the cost and delay of probate by proper planning.  Having a well-drafted will or trust is a good way to start.  Asking a trusted friend or family member to serve as your personal representative can save a lot of time and money as well. Think about who you might want to have as your personal representative and remember, the law will pick one for you if you fail to act. You may get stuck with Uncle Charlie or Cousin Bill as your personal representative if no one else wants the job.

© 2013, Astrid de Parry, P.A., 107 East Church Street, DeLand, FL 32724
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