More and more Florida residents are saddled with timeshare property they cannot sell but nonetheless must maintain. Joseph Karp, Florida probate lawyer, advises Florida residents in this situation on how to avoid probate on timeshare property.
About 7% of all American households own a timeshare. Except for certain high-end properties, selling timeshares has become very difficult. The depressed resale market means many Floridians face the possibility of owning the unwanted property at their deaths. The
Florida probate attorneys of The Karp Law Firm are advising more and more clients on what to do with such unwanted property vis-a-vis their estate plans, particularly with respect to probate avoidance.
Timeshares are considered real property, not personal property, and therefore must be probated where they exist. Attorney Karp often suggests placing the property in a properly drafted Florida revocable trust. Married couples may also consider owning the property as joint tenants with rights of survivorship. However, that will eliminate probate only upon the death of the first spouse, and will not eliminate probate when the survivor passes away.
Attorney Karp and all The Karp Law Firm's Florida probate lawyers can also assist non-Florida residents by handling the ancillary probate on Florida timeshares, or handling the deed of a Florida timeshare to retitle into the name of a non-Florida Revocable Trust.
The Karp Law Firm maintains offices in Boynton Beach, Palm Beach Gardens and St. Lucie, Florida and offers legal services in probate, estate planning, trust administration, Medicaid/VA benefits planning, special needs planning, and estate litigation.
About Lawyer Central
Lawyer Central Network is a nationwide network of attorneys using technology to increase their individual exposure.
Lawyer Central is emerging as a leading public relations and mixed media marketing organization for fast-growing law firms and forward-thinking attorneys. Lawyer Central membership includes access to cutting edge technology, as well as various types of media exposure ranging from practice area videos and in depth interviews to complete public relations and internet relations management.
