After passing away during a coronary bypass surgery in 2012, members of Neil Armstrong’s estate held Mercy Health-Fairfield Hospital culpable for the complications that led to his death. This week, it was reported that Armstrong’s estate was given $6 Million in a confidential wrongful death settlement. Armstrong’s widow and estate executor, Carol, agreed to the settlement...
Certain events in our lives often trigger an estate plan review. For example, if you get married or divorced, it is very likely you will want to change your Will and other estate planning documents. But what happens if you just find yourself estranged from your spouse? Can you change your estate plan to disinherit your...
In previous articles, we have looked at different ways to own property in Florida. For example, you may own real property as the sole owners, as tenants in common and as joint tenants with right of survivorship. The Florida land trust is another form of property ownership you may want to consider. But why? Property Owned...
Trusts consist of a grantor, a trustee, and at least one beneficiary. The grantor creates the trust, then funds it by transferring assets to it. We may not think of trusts as profit centers, but some trusts do generate income. This, of course, leads to the question, “Do trusts pay income taxes?” Whether they do or...
Perhaps you signed your Will years ago and need to make a few adjustments. It seems simple, so you decide to go about amending your Will on your own. Unfortunately, Wills are not really do-it-yourself projects. Incorrectly amending your Will can lead to trouble after you have passed away. But you still need to make those...
Whether it is your first time or your third, marriage has a profound effect on your life. Many things may change from your address to your estate planning goals. While planning your wedding and honeymoon, take some time to make your estate plan reflect your new life. It’s important for the future of your new spouse...
In December of 2017, President Trump signed a tax reform bill into law. The Tax Cuts and Jobs Act generated a lot of excitement for provisions that reduced taxes and greatly increased the estate tax exemption. This new law also provided a significant benefit to small business owners – the 20% small business deduction. However, there...
Pets are often a big part of our families. In fact, some people refer to themselves as pet parents or speak of their pets as if they were their children. It’s important to care for our animal friends, and this is true even after we have passed on. Some people set up pet trust while others...
We all own things. But when we die, where does our property go? How will our final debts be paid? This is where probate comes in. After someone dies, their Will usually is submitted to a probate court.  Even if there was no Will, the probate court will likely appoint a Personal Representative. What follows is...
President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. Tax reform offered sweeping changes for individual taxpayers and business entities, like limited liability companies. Limited Liability Companies Are Popular, Now More Than Ever For years now, the limited liability company has been one of the most popular business entities to...