Protecting Your IRA with a Standalone Retirement Trust

A Standalone Retirement Trust can be an incredibly useful estate planning tool. Suppose you have an Individual Retirement Account (IRA) which is not fully depleted at the time of your death. Where do you want that money to go, and how do you want it to be distributed? While you can name a specific beneficiary (or beneficiaries) of your remaining IRA funds, you should consider whether or not you want the beneficiary Read More

A Brief Overview of Portability

The estate tax is an infamous, though oftentimes misunderstood, aspect of estate planning and probate. Recent years have seen significant changes made to estate tax laws, including the permanent addition of portability in 2013. Below we have provided a brief overview of the key things you need to understand about how the estate tax works with regard to portability. If you have more questions which we have not Read More

9 Key Qualities to Look for When Naming a Trustee

So, you’ve decided to set up a trust. If you want to ensure that your trust is executed in exactly the manner in which you intended, it is absolutely vital that you select an appropriate trustee to administer your trust. While the specific duties of a trustee may vary depending on the type of trust being administered and your wishes for the trust, there are several overarching qualities which most effective Read More

7 Damaging Misconceptions About Florida Estate Planning

In Florida Estate planning is an incredibly misunderstood process. Some of the misconceptions about this area of the law would even be considered comedic if they did not have the potential to be so damaging. Unfortunately, estate planning misconceptions pervade our society, and they are detrimental to your wealth, your wishes, and your loved ones. Below we have outlined seven particularly damaging misconceptions Read More

A Brief Q&A on Special Needs Trusts

When you have loved ones in your life with special needs, they require extra care and attention in order to provide for those needs. Special needs, broadly defined, are needs that arise from a significant disability, usually medical or psychological in nature. It could be a physical disability such as blindness or a mental disability such as Down Syndrome. Whatever the case, special needs require special Read More

Estate Planning Beyond the Will: The Importance of Powers of Attorney

When it comes to estate planning, far too many people believe that a will is all they need. Unfortunately, a will does not apply to many commonly occurring scenarios in life for which it is vital to prepare ahead of time. This applies in particular to situations where you become incompetent (such is the case with dementia) or physically unable to make important decisions for yourself (such is the case with Read More

Florida Intestacy: What Happens When You Die Without a Will?

If you’ve visited our website or read our blog before, hopefully you have a strong understanding of the vital importance of estate planning and creating a will. Unfortunately, it is quite common for people to pass away without ever having taken any steps to legally define their wishes for how their estates should be administered and who should inherit their property. When a person dies without leaving a will, Read More

Pet Trusts: Financial Planning for Your Furry Family Members

When we discuss estate planning, we often talk about the importance of making a plan to provide for the care and financial stability of your loved ones after you die. But what if you have loved ones who are not human? What will happen to your furry family members when you are gone or no longer able to care for them due to incapacitation? Few people actually think about what would happen to their pets if they died Read More

3 Essential Tools for Business Estate Planning

Comprehensive estate planning is vital for most individuals, but even more so for business owners. If you own a company, and particularly one that you want to remain in your family after you die, a detailed business estate plan is essential for ensuring that your vision for your company is carried out. There are many questions that must be answered. Who do you want to own and manage your company when you die? If Read More

Advantages and Disadvantages of Probate

The most commonly held notion about probate is that it is a negative and difficult process that should always be avoided if possible. This misconception is an oversimplification of the truth that does not account for certain aspects of probate that may be desirable under certain circumstances. Probate is the legal process that follows an individual’s death whereby a probate court will establish the validity of the Read More