Irrevocable trusts are often recommended as part of estate planning for families in a variety of circumstances. Whether you have a high net worth and want to use a trust for tax purposes, or you want to ensure that your children’s finances will be handled in the event of your untimely passing, there may be many...
Is it uncommon for autistic children to receive large sums of money?  Not really.  Grandparents, parents, and other relatives may provide for them in their will or trust. They may also be the recipient of a payout from a lawsuit, such as a birth injury lawsuit. Are you aware, however, that if your autistic child receives...
Sometimes, disputes about trust agreements arise. Did you know that a trust agreement can include arbitration clauses? Arbitration allows resolution of disputes outside of a courtroom. It differs from mediation as the arbitrator decides the outcome of the dispute whereas a mediator facilitates the finding of a mutually acceptable solution if possible. While you can include...
The Tax Cuts and Jobs Act (TCJA) nearly doubled the federal estate tax exemption amount. This, however, is set to be reduced by roughly half in 2026, unless Congress takes steps to increase the longevity of the larger exemption amount. With the potential for the federal estate tax exemption amount to be subject to a significant...
Have you been planning to remarry? If so, it can be important to understand some key estate planning issues that may be directly impacted by remarriage. Election Against The Will - Overruling estate plans The first issue to be aware of is that Florida, unlike many other states, allows a spouse to elect against the will...
If you own more than one home, what determines your legal residence? If you work or go to college across state lines, which state can you legally call home? Such questions depend on where you are domiciled, or the place where you maintain a permanent residence. You can have more than one home, but only one...
Were you aware of the fact that there are many different types of trusts in estate law? For example, a marital trust can be a legal arrangement that transfers assets to a surviving spouse after the trustmaker’s death. A credit-shelter trust allows married couples to take full advantage of state and federal estate tax exemptions. A...
When it comes to estate planning in Florida, we all have goals. We have goals for ourselves, our children, our businesses, and also for our legacy. We know that you have dreams and plans for your legacy.  While many people think about the here and now, which can include health care decision-making, financial decision-making, and plans...
On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act, or the SECURE Act, was signed into law. Congress passed the legislation with the stated goal of helping Americans accumulate more assets for retirement. Accordingly, lawmakers expanded access to “tax-advantaged” retirement accounts, such as 401(k)s and Individual Retirement Accounts (IRAs), among other things....
In previous articles, we have looked at different ways to own property in Florida. For example, you may own real property as the sole owners, as tenants in common and as joint tenants with right of survivorship. The Florida land trust is another form of property ownership you may want to consider. But why? Property Owned...