Florida Elective Share Fundamentals

Dividing estate assets can be a thorny problem. In addition to a deceased person’s Will – assuming they prepared one – personal representatives and heirs may tackle family allowance eligibility, homestead laws, unusual Wills, and beneficiary designations that have not been updated for years. Add the following to that list of issues: the Florida Elective Share. What Is the Florida Elective Share? The surviving Read More

Understanding Elective Share

When someone dies, they leave behind heirs and sometimes a surviving spouse. Sometimes surviving spouses may be dismayed to learn they have been disinherited by the decedent, left a smaller share than expected, or simply not mentioned. When this happens, the surviving spouse may be able to claim an elective share of their spouse’s estate. What is an elective share? The surviving spouse of a deceased person may Read More

Revocable vs. Irrevocable Trust: Which Is Right for You?

Choosing the right tool often requires specific knowledge. You have to know what you want to accomplish and what the tool can do. When preparing your estate plan, you have a number of tools from which to choose, including revocable and irrevocable trusts. Both offer advantages and disadvantages. However, in a direct, head-to-head face off – revocable vs. irrevocable trust – which better suits your needs? Let’s Read More

Aretha Franklin’s Estate Dilemma

In her long and illustrious career, Aretha Franklin hit many milestones:  first female artist inducted into the Rock and Roll Hall of Fame, winner of 18 Grammys and a host of chart-topping albums and singles. When she passed away on August 16, 2018, she was added to the long list of celebrities who failed to leave an estate plan. With an estate estimated to be worth tens of millions of dollars, it’s difficult to Read More

Elder Law and Estate Planning: Preparing for Your Golden Years

Life moves fast, and sometimes we don’t think much about retirement until it’s almost there. We may have been contributing to retirement accounts for years, but what about our estate planning? Can elder law and estate planning help you prepare for your golden years? Estate Planning Near Retirement Age As we age, we focus on different needs. Young professionals in their 20s and 30s will not have the same questions Read More

Actions a Surviving Spouse Should Take

After the memorial service has ended, and every casserole or ham has been served to grieving friends and family, the decedent’s surviving spouse begins a new role. As difficult as it may be, there are actions that a surviving spouse should take as soon as possible after a death. Contact Your Attorney Hopefully the decedent left a valid, up-to-date Will. Even if there’s no Will, however, the surviving spouse will Read More

Top 8 Reasons to Use a Living Trust

People come to estate planning with different goals, different estate problems, and different family circumstances. Some people have very simple estates that require very simple estate planning while others need advanced planning. Trusts are a common estate planning tool. If you are unsure how a living trust might help you, read on to learn eight reasons to use a living trust. #1: Asset Protection A living trust Read More

Do I Need Long-Term Care Insurance?

We insure our homes, our businesses, our boats, and even our lives. We buy insurance in anticipation of future risk – damage to property, loss of income, or loss of life. Long-term care is a grim reality for many people, yet many have not purchased or even explored their options for long-term care insurance. The number of people who buy long-term care insurance is fairly low. The premiums may start high and Read More

Important Elements of a Will

Your Will is one of the most important documents you will ever sign. So, it makes sense to have a Will that is complete. To do so, you will need to understand the most important elements of a Will. The Testator and the Will For a Will to be valid, the testator must: be of sound mind, be at least 18 years of age, have testamentary capacity, and sign the Will voluntarily without undue Read More

Why Do I Need Asset Protection?

Maybe you read an article about asset protection and want to learn more. Or maybe your attorney suggested you think about asset protection strategies. You are both curious and a little resistant. It may be hard to understand why you need asset protection. Understanding Asset Protection The first thing to remember is that assets need to be protected before any claims have been made. In fact, transfers made after a Read More