Protect Your Estate Planning Documents from Disaster
In the wake of hurricane Irma and hurricane Harvey, now is a great time to create a plan to keep estate planning documents safe and easily accessible in the event of a natural disaster. Many recognize the need to have property and health insurance paperwork readily available, but that is not enough. If a person’s […]
Estate Tax Rules That Benefit Florida Residents
At least once a year, it may a good idea to review estate planning rules and laws as they may change. For instance, the estate tax exemption has risen each year since 2011 with inflation. In 2015, the estate exemption is $5.43 million, which is a $90,000 raise since 2014. However, those who have made […]
Estate Planning Pitfalls To Avoid In Florida
Creating an estate plan allows for an orderly transfer of assets from generation to generation. It may also offer protection for those who are incapacitated and otherwise unable to make decisions. Still, there are issues to take into consideration when creating an estate plan to ensure that it meets the wishes of the person who […]
Living Wills For Florida Individuals 18 And Older
Individuals in Florida who are 18 or older should consider making a living will. This is not just a document for people who are older or in ill health. An accident or serious illness can happen at any time, and with a living will, loved ones will know an individual’s wishes for their medical care […]
Advanced Estate Planning For Florida Property
Many people move to Florida to retire. As a result, Florida has become a national hotbed for probate and estate planning. Several Florida property owners seek to structure their estate plans in order to allow assets to pass more easily to beneficiaries with the advice of area law firms. Some professionals suggest first creating a […]
Estate Planning In 2015: Understanding The IRS guidelines
Every year, the Internal Revenue Service provides updates to the amount individuals can set aside for their future or leave to their heirs tax-free. These guidelines allow for individuals to maximize ways to provide for their families now and after they are gone. The 2015 federal estate tax exemption is $5.43 million per person. The […]
The Use Of Noncharitable Trusts
As Florida residents may know, some states allow noncharitable trusts to protect certain assets for a limited time or in perpetuity. This type of trust might be useful to protect domestic assets or provide for a pet. Noncharitable purpose trusts offer some features of other trusts, such as naming a trust protector with the ability […]
New Legacy Contact Feature On Facebook
Florida users of social media may be interested to learn about the new legacy contact feature Facebook recently rolled out. Following years of criticism from family members about their inability to access deceased loved ones’ accounts, Facebook has developed a feature that allows those with a profile to designate someone who can control the account […]
How Gift Taxes Affect Estate Planning In Florida
When property is gratuitously transferred from one individual to another, it is considered a gift in the eyes of the government. This gift may be subject to the gift tax depending on how much the gift is worth and whether an individual has any of his or her gift tax exemption available. Property that is […]
Estate Administration In Florida
When a person dies in Florida, either a designated executor or a person appointed by the court will serve as the decedent’s estate administrator. During the preparation of their wills, it is important for testators to be careful when choosing an executor for their estate in order to make certain the person is competent, able […]