Probate as relates to IRAs and Life Insurance
Generally speaking, the probate process in Florida begins with filing a petition for administration in the circuit court, in the county where the decedent resided at the time of their death. From there, the next step is for the court to appoint a personal representative to administer the decedent’s estate, by issuing a court order which […]
Holographic Wills
A will, in order to be valid in Florida, must be in writing, signed by the testator at the end of the will (or subscribed by someone in the testator’s presence and at the testator’s direction), in the presence of at least two attesting witnesses. §732.502(1), Fla. Stat. A will other than a holographic (handwritten) […]
Trusts Becoming More Popular For Estate Planning In Florida
Planning one’s estate is an important endeavor, which should not be ignored. It is best to avoid procrastinating on making these decisions. Estate planning in Florida or elsewhere can come in many different forms. One form of asset protection which has seen an increase in popularity is using trusts. This method comes with a variety […]
No Need To Procrastinate With Estate Planning In Florida
Many people are waiting until next year before dealing with planning their estate, since they do not know whether new estate planning laws will be in effect by next year. Some people in Florida with a higher amount of assets are uncertain how future laws will affect their estate planning decisions. However, one should not […]
Democrats Drop Estate Tax Change That Would Also Affect Florida
When a person dies and the decedent’s assets are transferred to another party, those assets are subject to taxation. The estate tax has been under scrutiny by lawmakers for the past several years. Some politicians want to continue the tax breaks started during the Bush administration; however, the Obama administration is proposing to end the […]
Digital Estate Planning Is Important In Florida
With the advent of technology, people’s lives have become in many ways more efficient. The Internet was especially instrumental in taking society to the next level of convenience, enabling people to pay their bills online and allowing instant communication in a variety of different forms and mediums. However, despite the conveniences of the online world, […]
What Documents Are Needed For Estate Planning In Florida?
Nobody can escape the inevitable. Although death is usually not a comfortable subject, it is important for any adult, despite income or age, to make preparations for one’s own death or incapacitation. The best way to do this is through a good estate plan which ensures one’s assets will be distributed to one’s intended heirs. […]
Tax Liability Not The Only Important Thing In Estate Planning
Estate plans help make sure one is prepared in the case of one’s death. Although this is an uncomfortable topic, it is an important one to address. There are a variety of goals which people have in mind when making an estate plan in Florida or in any other state. Most people usually focus on […]
New Estate Planning Laws Offer Advantages For Those In Florida
Strategy is an important aspect of planning an estate. One of the most important aspects of estate planning strategy is planning for tax liabilities in Florida or in any other state. Lawmakers recently passed the American Tax Relief Act of 2012 (ATRA) which has resulted in significant changes in strategies for tax planning for estates. […]
Celebrities Guilty Of Estate Planning Mistakes
Celebrities are really just normal, everyday people. They can make mistakes just like everybody else does in Florida and in any other state. Many of these mishaps revolve around financial planning decisions by celebrities. Some of these financial mishaps involve celebrities making significant estate planning mistakes. Among the celebrities who reportedly made poor decisions regarding […]