Sharing Estate Planning Goals With Family Essential In Florida
Taking care of one’s family is usually a person’s top priority in life. This could mean financially supporting a family member even after that person’s death. Estate planning provides the means for people in Florida to accomplish this goal. Having an estate planning goal in place can ensure that one’s intended heirs will receive their […]
Failure To Plan Can Be Costly During Estate Administration
Estate planning is important no matter where one is in life. It does not matter if a person is rich or poor, planning for estate administration is essential in Florida or in any other state. Many use their age as an excuse to not bother with planning an estate. However, for one family this turned […]
Multi-Millionaire Fails To Do Estate Planning Before Dying
Roman Blum was a multi-millionaire who had accumulated his fortune mostly through real estate investments and transactions. Blum, who recently died at the age of 97, left behind a $40 million estate. However, Blum made the mistake that many in Florida and elsewhere are making. He failed to do any estate planning, which may result […]
Late Estate Tax Return Can Be Costly In Florida And Other States
Deadlines are important when administering an estate, as well as when it comes to filing an estate tax return. Failure to file an estate tax return on time can result in significant penalties in Florida or in any other state. This is what happened to one man’s estate after he died in early March 2003. […]
Choosing Trustee Is Important When Creating Trusts In Florida
Various estate planning tools are available to people looking to plan ahead. One of the most common estate planning instruments are trusts. A trust is a separate legal entity that will legally own possessions put into the trust account in Florida or in any other state. These assets are many times held on behalf of […]
Preparing For Medical Costs Is Important In Estate Planning
Planning an estate is about preparing for one’s death. However, it is also about making preparations for possible serious sickness or incapacitation in the future. If one is physically not able to make decisions for himself or herself due to a medical situation, this can be a serious issue for that person in Florida or […]
Lou Reed Failed To Use Trust Planning Strategy
There are many tools available for planning an estate. The ones a person in Florida chooses will depend upon one’s specific circumstances. Although having something is usually better than nothing, if one chooses the wrong estate-planning strategy, it could cause significant problems down the line. It appears that Lou Reed had chosen a less-than-optimal estate-planning […]
Lawmakers Propose To Repeal Estate Tax In Florida
Lawmakers are constantly proposing changes to existing laws. Now, one lawmaker is proposing legislation that would repeal the estate tax. Many political commentators believe that the proposed bill has a good chance of being enacted into law. This could result in significant savings for many beneficiaries in Florida or in any other state. There are […]
Trusts Should Be Created Sooner Rather Than Later In Florida
There are various types of estate-planning tools available for those looking to plan ahead. For those who have chosen to utilize a trust as part of their estate-planning strategies, many may be wondering when would be an ideal time to create a trust in Florida. However, most legal experts agree that, once a person has […]
Estate Planning: Doing It The Right Way The First Time
Estate planning is an important step for Florida families. However, it is important that estate planning be approached the right way and done correctly. The correct approach to estate planning will differ from case to case, based on the individual needs of the family at that time. These plans can be adjusted over time as […]