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...
Have you heard of an NFA Gun Trust before? National Firearms Act Gun Trusts deal with ownership of firearms that are subject to stringent federal and state regulations. These trusts make it easier to possess and handle firearms after the owner passes away and protect heirs from unintentionally breaking the law. Let’s dive into the details....
For many people, creating a will can be a difficult process. Obviously it is hard for anyone to think about their own eventual passing, and it is also often hard to make decisions about who will get what. One thing that can be even more difficult than creating your own will, however, is working with a...
When doing any type of estate planning, there are many factors that you need to consider. Determining where you want your assets to go after you’re gone can be very stressful, but it is also very important. Equally important is going to be how the assets are actually distributed. In many cases, they have to go...
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