How much do you really know about tax law? Or how it applies to your Florida estate plan? Law firms like ours focus on the specific needs of Floridians who need assistance with this type of legal planning. Taxes, and their intersection with your Florida estate planning, can be complicated on several levels. Due to the...
Updating your estate plan may not be at the top of your to-do list when you move to a new state. Did you know, however, that different states have different rules when it comes to estate tax, inheritance laws, and medical care? It can be important to update your estate plan accordingly to help ensure it...
Have you heard the recent buzz in the news about the estate tax? The federal estate tax exemption was raised to its highest ever levels in 2017 by the Tax Cuts and Jobs Act. The exemption currently sits at $11.7 million per individual person or $23.4 million for a married couple. Given these numbers, many may...
Have you heard the big news about Bill and Melinda Gates? One of the world’s richest power couples is getting divorced and the public eye is watching to see how this unfolds. While sources say that they did not have a prenuptial agreement in place, it appears that they did have a postnuptial agreement and that...
Have you heard of SLATs? A Spousal Lifetime Access Trust (SLAT) is a type of trust for married couples that allows for one spouse to remove assets from the combined marital estate while preserving access to those assets for the other spouse during his or her lifetime. Let us take a closer look at SLATs and...
Have you considered DIY estate planning? Many people may believe that it is better to have a basic estate plan than no plan at all, whether it is based on an online template or completely DIY. DIY estate plans that are drafted without the right legal advice, however, can force a wide variety of unintended consequences....
Do you have a canine companion or other beloved pet? If so, you may worry about what will happen if you pass away before he or she does. This worry can be even more acute if you have a pet with a longer life expectancy, like a cat or a reptile. Rest assured that there may...
Have you considered potential tax changes that may impact your estate planning? Every new administration comes with potential tax changes that could impact your estate planning. With a new president having taken office, it can be important to look to the tax task force proposals to see what changes might be underway. It is prudent to...
Remarriage can mark an exciting new chapter in life. It can also, however, create some tricky estate planning issues. Have you considered how you can assure your assets end up where you want them after your death? Let us discuss seven questions to ask before updating your estate plan after remarriage. 1. How can I make...
Do you know about prenups? A prenup, formally known as a “prenuptial agreement,” is a contract entered into before marriage wherein the parties can lay out how their assets will be distributed in the event of their death or a termination of the marriage. The agreement is called a “postnuptial agreement” if the contract is entered...