We are facing unusual times right now. While you know this as well as we do with the spread of the novel Covid-19 across our nation and the resulting pandemic, we also know that you have questions about what the future holds. You may not only be facing uncertainty when it comes to your job or...
Did you know the federal estate tax can reach up to 40 percent of a deceased person’s wealth after $11.58 million? Obviously, wealthy families at risk of losing nearly half of their taxable estate to a “death tax” would benefit from pursuing estate planning strategies to mitigate their estate tax exposure. It is not just the...
A good estate plan is something that every Floridian can benefit from. No matter how old you are, how much money you have, what you do, or where you live, this is a critical tool that you need for yourself and your loved ones. Unfortunately, estate planning often gets labeled as something only for “old” people...
Did you know a Florida Irrevocable Life Insurance Trust is a type of trust established during life that is specifically designed to own a life insurance policy, and the requisite death benefits, after you pass away? The main benefit to an Irrevocable Life Insurance Trust, also referred to as an ILIT, is tax avoidance, but other...
Did you know a Standalone Retirement Trust is an estate planning vehicle that can serve as the beneficiary of unspent tax-qualified retirement accounts when you die? In other words, you work, save, and invest over the course of your working life to build up an Individual Retirement Account (IRA) or 401k, and if there are any...
Estate planning is of critical importance to all Floridians. While research continues to show us that many individuals mistakenly choose not to plan ahead, we often find that this comes from a lack of understanding. Often, potential clients share with us a number of reasons why planning remains unimportant. From “I don’t have enough assets to...
For years, Florida has enjoyed a reputation as a choice retirement destination. This is due largely to our climate and amenities for older Americans. In truth, our beaches, attractions, and the lack of state income tax make it an attractive place for younger Americans, too. In any case, there are certain steps associated with becoming a...
When you first made your estate plan you likely made it a priority to describe how you wanted your children to be taken care of if something happened to you. You likely referred to someone that would take in your child and care for him or her as you would. You may have written down one...
Thanks to the internet, handling your own legal matters may seem easier than ever before. The information and forms needed to create a will, trusts, healthcare directives, and more, are all readily available online. Accordingly, many people believe that using these resources is a simple, affordable alternative to hiring a lawyer. What they often do not...
Do you ever find that as a person who does not have children that you are often inundated with questions surrounding your future? Questions such as: Do you plan to adopt? Will you be a foster parent? If you do not have kids, who will take care of you as you age? Without children, who will...