The Tax Cuts and Jobs Act (TCJA) nearly doubled the federal estate tax exemption amount. This, however, is set to be reduced by roughly half in 2026, unless Congress takes steps to increase the longevity of the larger exemption amount. With the potential for the federal estate tax exemption amount to be subject to a significant...
Have you considered potential tax changes that may impact your estate planning? Every new administration comes with potential tax changes that could impact your estate planning. With a new president having taken office, it can be important to look to the tax task force proposals to see what changes might be underway.   It is prudent...
Remarriage can mark an exciting new chapter in life. It can also, however, create some tricky estate planning issues. Have you considered how you can assure your assets end up where you want them after your death? Let us discuss seven questions to ask before updating your estate plan after remarriage.   How can I make...
Do you know about prenups? A prenup, formally known as a “prenuptial agreement,” is a contract entered into before marriage wherein the parties can lay out how their assets will be distributed in the event of their death or a termination of the marriage. The agreement is called a “postnuptial agreement” if the contract is entered...
Did you know that your estate plan should be updated on a fairly regular basis? Changes in the law and in life often merit updating an estate plan to help ensure that it best reflects a person’s intentions and goals. After major life events, namely key familial changes, it may be a good idea to review...
With higher life expectancies, multigenerational families, or families composed of three or more generations, may become the new norm. When it comes to estate planning, how do you contemplate the different needs of a multigenerational family?    In a multigenerational family it may be important, and difficult, to remember to put yourself first. As the head...
The U.S. is posed for a change in presidents. Does a new administration, however, mean that you need a new estate plan? With different presidents having such different agendas, the changes in laws on the horizon may mean that you should be mindful of keeping your estate plan as up to date as possible so that...
Have you considered how a law firm can support its local community? At Law Offices of John Mangan, P.A., we remain committed to serving and supporting our local community. We do this by providing our clients with comprehensive estate plans that assure final wishes are fulfilled and best interests are protected. We also do this by...
Have you heard that the Law Firm 500 committee announced the list of 2020 Honorees ranking Law Offices of John Mangan, P.A. No. 60 on its 5th annually published list recognizing law firms that have achieved significant growth in revenues? Honorees were verified by the outside certified accounting firm Shavell & Company, P.A. The 2020 Law...
If you are a Florida resident, you may already enjoy some of the tax benefits of living in the state. When it comes to estate planning, however, you may still want to keep an eye on different tools that can help you minimize your tax burden and preserve your eligibility for programs that can assist you...