Estate Tax Planning And Beneficiary Designations Can Save Money
Two of the most important aspects to an estate plan is minimizing tax liabilities and ensuring that intended beneficiaries receive an individual’s assets after death. Keeping informed about the most recent changes to estate tax laws is essential for anybody in Florida or across the country. This will help individuals to make the right decisions […]
Waltons Use Estate Tax Planning To Keep Fortunes In The Family
There are many reasons why the wealthiest families on the planet are wealthy. Although not every family has an extreme amount of wealth, sometimes families with more modest, yet considerable wealth, can learn something about maintaining their wealth for future generations by looking at what the world’s wealthiest families have done in terms of estate […]
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 […]
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 […]
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 […]
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 […]
Trust Options For Florida Estate Planning
There are two main types of trust that an individual may choose from when creating an estate plan. The first type of trust is referred to as a living trust, and its terms may take effect while a person is still alive. Alternatively, a testamentary trust may be established, which is part of a will […]
How To Determine Whether A Trust Will Benefit Heirs
Florida readers may wonder whether a will is sufficient to protect their assets for their heirs. Depending on a person’s assets and net worth, a trust may be a useful tool for estate-planning and asset protection. An individual with a net worth of $100,000 or more may benefit from a trust as long as at […]
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 […]
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 […]