Baby boomers – an iconic slice of American history. Making up almost 20% of the United States population, baby boomers are reaching retirement age in large numbers. As they retire and eventually pass away, they stand to pass on more than a good name or a quirky family legend. In fact, baby boomers are expected to...
We’re well into the New Year. How are your New Year’s resolutions going? If you’re like most people, you made resolutions related to health, fitness, family, or financial well-being. Estate planning may not have entered your mind as the New Year was rung in, but that doesn’t mean it is not as important as your goal...
Everyone has heard reference to trusts. Some even know the difference between revocable and irrevocable, but with so many kinds of trusts misconceptions are common. Few people have the in-depth knowledge of these powerful tools and their effectiveness. Myths have abounded in the world since ancient times. However, over time myths have evolved from stories about...
Between the paparazzi and social media, we often know more about celebrities than we care to. In fact, they are so far removed from your life, you may feel that there is nothing to be learned from their trials and triumphs. However, sometimes we can learn what not to do especially in terms of their estate...
Hit the mark. Miss the boat. The words “hit” and “miss” are used in a number of colloquialisms and idioms. The phrase “a hit or a miss” suggests a random, haphazard approach – which is certainly not how you need to do your estate planning! When considering whether your estate plan is a hit or a...
How property is owned affects the property on several levels. There are advantages and disadvantages to the different types of property ownership. For example, Pat and Jeff planned to purchase some property in Palm City. They felt it was important to learn the differences between tenancy in common and joint tenancy with right of survivorship. It...
While trusts are a common form of estate planning, there are variations in how trusts are formed. For example, Alex T. was considering forming a trust then transferring his family business to the trust. However, he was concerned about appointing a trustee. Alex had built his company from the ground up and was reluctant to hand...
It’s likely that you will have finished the rush, stress, and joy of the holiday season by the time you read this blog. Despite this season of giving, there’s a gift you may have missed: your estate plan. However, estate planning is all about giving. It is not too late to consider using the following strategies....
What is a Will? The Last Will and Testament has been used as an estate planning document for centuries. In fact, Wills are often the first – and only – document people think of when they think about estate planning. Most people know about Wills from books, news about Will contests and celebrity estates, movies, and...
Are there Florida laws that pre-empt even the most well-thought-out estate plans? In some cases, yes. For example, someone in a strained marriage, or who is estranged from a spouse, may write an estate plan that prevents that spouse from receiving a full share of their estate. The surviving spouse may find relief in Florida law....
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