Wills help to keep conflict among children at bay in Florida
Parents, following their deaths, typically do not want their kids to fight one another over their inheritances. Unfortunately, these kinds of conflicts often take place in Florida and other states because parents have neglected to create wills. This is particularly a problem when parents have loaned or gifted money to one kid and not to […]
Using Roth IRAs For Estate Planning Can Minimize Taxes In Florida
Most estate planning strategies are aimed at leaving the largest amount of assets as possible for intended beneficiaries. This is why many people in Florida are utilizing Roth IRAs in their estate planning. Although avoiding taking any distributions from traditional IRAs can help to save money for the next generation, many times, at a certain […]
Small Mistakes Cause Big Problems In Estate Planning In Florida
Details matter when it comes to many things in life. They also matter when it comes to death and estate planning implementation in Florida and elsewhere. Even small mistakes can result in serious consequences when it comes to estate administration. It can even cause intended beneficiaries to not receive their inheritance. This is what happened […]
Factors To Consider Before Creating A Trust In Florida
While most estate planning attorneys may be in favor of a trust for all of their clients, it may not be the best estate planning tool. Each person must consider the cost as well as the alternatives to a trust before deciding to create one. In some cases, it may be easier to go through […]
Recent Court Ruling Can Affect Some Trust Planning Strategies
The ways that statutes are written still leave plenty of room for interpretation in any area of law. Estate laws in Florida are no exception to this rule. This seems to have been the case in a recent legal dispute between the Internal Revenue Service (IRS) and a family trust. The ruling could become relevant […]
Administering An Estate In Florida
When an individual passes on, that person’s assets need to be collected and distributed. Additionally, any debts that the estate leaves behind need to be settled through estate administration. In most cases, the administrator of an estate follows the law of the state where the person died. However, it may be necessary to go through […]
New Inflation-Based Tax Changes May Ease Burden On Estates
One big hurdle faced by Florida residents who are preparing estate plans may soon be lowered thanks to action by the federal government. According to financial reports, the government may be looking at inflation rates as they relate to the estate tax, which could mean lower taxes for heirs. The threshold that is up for […]
Steps To Estate Planning In Florida
Estate planning can be a complicated process for many people. However, in can be helpful for some to separate the basic estate planning steps into two categories. The first considers the people who are involved in and benefit from the estate plan, and the second category focuses on the vehicles used to distribute the estate. […]
Guidance On Preparing An Estate In Florida
Florida residents who are planning to leave an estate must follow the state’s guidelines on probate planning and estate planning so that their beneficiaries do not have to endure an estate dispute. Probate is a legal process in which the courts identify the decedent’s assets, pay the cost of the probate action, pay off his […]
Florida Law Of Intestacy
If a Florida resident dies without a will, the state intestacy statute determines how the decedent’s assets will be distributed. If there is a surviving spouse with no living descendants or only descendants in common with the decedent, the surviving spouse receives all of the estate. If the surviving spouse has at least one descendant […]