People usually want their property and assets to go their spouses and children. However, what do you do when your child is under age 18? Are there ways your minor child can inherit if you die before they reach their majority? Fortunately, estate planning can address this situation to make sure your child receives the inheritance...
When Joe K. passed away last year at age 52, his family began the process of probating his estate. They were glad he had left a Will. However, he prepared the Will when he was only 30 years old. Much had changed in the ensuing 22 years. Sally B. also left an estate plan for her...
Not every state collects estate taxes. However, the federal estate tax potentially applies to everyone, though not everyone will have to pay federal estate taxes. The best time to worry about estate taxes is while you are working on your estate planning. You and your estate planning lawyer may be able to lower or eliminate your...
<h2>Compelling Reasons to Have a Gun Trust</h2> If you are a gun owner, you’ve probably heard of a Florida gun trust. You may know exactly what it is used for but may be wondering if you need a gun trust lawyer to help set one up. Continue reading to learn more about gun trusts and how...
When you consider the goals of estate planning, typically people want to pass on their property and assets to their loved ones. People may preserve wealth by careful investments in rare coins, fine art, exclusive real estate, and other items estimated to maintain or increase in value. However, wealthy individuals may need innovative and comprehensive strategies...
During an accident or natural disaster, it may be difficult or impossible to determine which victim lived longer than the other. This type of situation can cause serious consequences for beneficiaries and contingent beneficiaries. Understanding the Florida Simultaneous Death Law may also make a difference in the estate planning choices you make. Simultaneous Death Law: What...
When Kevin passed away, he left an estate worth $3 million, property he owned separately, property owned jointly with his second wife, and both minor and adult children. He had not consulted with an estate planning attorney for many years, so his estate plan was not as current or up-to-date as it should have been. As...
Estate planning tools offer unique and useful benefits. Wills provide a way to distribute a person’s estate after their death. Trusts, including revocable living trusts, provide another way for individuals to accomplish their estate planning goals. Before deciding to establish a revocable living trust, consider why you might want to use a revocable living trust. Establish...
Probate can become complicated, especially when an out-of-state personal representative is involved. What is a personal representative? The person who takes on the responsibility of shepherding an estate through probate is a personal representative. This person is also sometimes referred to as the executor. Someone who wants to serve as a personal representative must: Be at...
The thought of leaving a nice inheritance for your loved ones may bring a smile to your face. However, for some, it may cause a few worry lines instead. When you take a realistic look at your heirs, do you see any who may not benefit from a lump sum inheritance? If so, can a spendthrift...
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