After setting up revocable living trusts, too many people think that their estate planning is done, once and for all, and can be checked off the list. The fact is, however, that regular reviews are essential. Here are five of the most important reasons you should schedule a review below. Revocable Living Trusts Are Subject to...
If you have been named as the executor of an estate in Florida (the specific term for this role is “Personal Representative”) by a loved one who has recently passed away, you will quickly realize that there are a lot of things you are responsible for. An executor is chosen to make sure the final wishes...
No one wants to find themselves in the situation where their assets are at the mercy of creditors and they are powerless to staunch the assault. However, some of the options for asset protection in this kind of situation can appear to be limited and unattractive. Moving assets offshore may be impractical and expensive. Placing them...
While Hollywood movies may give the impression that a scrawled bequest on a scrap of paper found in a long-lost safe deposit box will automatically result in the heroine rightfully inheriting her fortune, if the story takes place in Florida, the heroine is likely out of luck. This is because Florida follows a simple, but profound...
DIY Estate Planning Do-it-yourself or DIY estate planning is risky and, if you make even the slightest error, it can have serious consequences for your family. Estate planning involves the preparation of documents relating to the distribution of assets in the event of death. In addition to allocating personal belongings, real property, motor vehicles, and financial...
As an estate planning law firm, we constantly espouse the importance of taking the time to draft a comprehensive estate plan long before there will ever be an impending need to make your wishes known and administer the distribution of your assets. After all, when it comes to your testamentary requests, it is always better to...
The federal estate tax is an infamous, though oftentimes misunderstood, aspect of estate planning and probate. Recent years have seen significant changes made to estate tax laws, including the permanent addition of portability in 2013. There is now an exemption that eliminates the federal estate tax obligation for most low and middle income people Below we...
So, you’ve decided to set up a trust. If you want to ensure that your trust is executed in exactly the manner in which you intended, it is absolutely vital that you select an appropriate trustee to administer your trust. While the specific duties of a trustee may vary depending on the type of trust being...
Separating estate planning myth from fact is a challenging process. Some of the myths about this area of the law would even be considered comedic if they did not have the potential to be so damaging. Unfortunately, estate planning myths pervade our society. They are detrimental to your wealth, your wishes, and your loved ones. Below...
When you have loved ones in your life with special needs, they require extra care and attention in order to provide for those needs. Special needs, broadly defined, are needs that arise from a significant disability, usually medical or psychological in nature. It could be a physical disability such as blindness or a mental disability such...
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