We’ve all heard the saying, “You can’t take it with you when you die,” but most people assume it means our money or assets. In fact, this saying also applies to our debts as well. Debt is an affliction of the living, and when you die it is the living who will be forced to deal...
If you were investing a great deal of cash, would you want someone else to choose your financial advisor for you or would you want to have control over the decision of who will be managing your money so you can select the best possible person for the job? The answer, of course, for most people...
Spendthrift Trust? No clue! Sure, you love your family. You want to provide for them and make sure they are taken care of after you are gone. But that doesn’t mean you have to trust your loved ones to be wise money managers. Some people simply aren’t good with money. Some have had bad breaks in...
Many people are inclined to use their assets to help leave the world a better place when they die. Some folks want to leave behind a philanthropic legacy. Others just want to use the money that they will no longer need to do some good in the world. The benefits of a charitable trust justify its...
An Estate planning mistake can be disastrous No one likes to spend time thinking about who will get their assets after they die, which is one of the reasons why so many people put off estate planning until later in life. But it doesn’t have to be a depressing or morbid undertaking. Avoid an estate planning...
How often does someone ask, "Is there an estate planning attorney near me?" Most people assume that estate planning can be put off until they reach middle age. While it’s true that older individuals will be concerned about how a lifetime of assets should be distributed, there are good reasons to start the process when you...
An executor is a key component in an estate plan. In the state of Florida, we formally refer to that person as the Personal Representative. He or she is entrusted with safeguarding the property of a deceased person until all taxes and liabilities have been paid, and then disbursing the rest to the designated and/or eligible...
Talking to loved ones about estate planning is never easy, but it should be dealt with sooner rather than later to open the lines of communication. Here are some tips for approaching the subject in a way that is more comfortable for everyone involved. Think about how you bring it up Talking about life planning can...
Irrevocable trusts are a form of trust that can be very difficult to change. When you transfer assets into an irrevocable trust, you may give up ownership rights over them. Some jurisdictions consider any trust to be irrevocable unless you specifically state otherwise in the document. They have many advantages and disadvantages for estate planning purposes,...
Estate planning is a subject that many people avoid. It requires thinking about their mortality, which is something that none of us like to acknowledge. But the truth is that none of us are going to live forever. And so, you have a choice: put an organized and strategic estate plan together or simply sit back...
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