Bitcoins: Will They Be Lost if You Don’t Have a Plan?

It sometimes seems we’ve been invaded by technology. From books to entertainment to education, digital is the way to go. In fact, even our wallets have been affected. Cryptocurrencies like bitcoin, though somewhat controversial, are becoming more commonplace. Aside from the digital aspect of bitcoins, you need to remember that they are an asset, potentially an estate asset. As such, you’ll need to include bitcoins or Read More

Building Your Legacy Through a Charitable Remainder Trust

For some clients, the thought of legacy extends beyond the confines of family. Donating time and money to community charities is one way to do that. An estate planning tool – the charitable remainder trust – allows people to donate while still retaining some important benefits. A Most Useful Tool – the Charitable Remainder Trust. Estate planning attorneys have many estate planning strategies and tools at their Read More

Florida Probate System

When people engage in estate planning discussions, the subject of probate is probably going to come up. Many people actively try to avoid probate. Yet, many people have poor estate plans that don’t protect them from probate or, even worse, don’t even have an estate plan. If you find yourself in the middle of a probate proceeding, it will help to understand the Florida probate system. The Purpose of Read More

2 Reasons to Disinherit a Family Member

Family members can engage in disagreements that last for years. Some families consist of people existing at very different levels of success. Both of these factors are often taken into consideration during estate planning. They’re only two of the reasons someone might want to disinherit a family member. Sometimes, as heart breaking as it can be, parents feel they must disinherit a child. It could be that the Read More

$11 Million Reasons to Review Your Estate Planning

It’s important to keep our estate plans current. Experiencing a major life event, like a birth or death, may affect some or all of your estate planning documents. When laws change, your plans may need some attention also. The tax reform that became law in December 2017 will probably affect your income tax strategies. Deductions you once counted on may have been eliminated, decreased, or increased. It also affects Read More

Are My Beneficiary Designations Really That Important?

Most investment and financial accounts allow the account holders to name beneficiaries to receive funds in the account upon the account holder’s death. To many of us, the forms that ask us to name beneficiaries may seem boilerplate, simple to complete, and not a big deal in the grand scheme of things. It may take just a few moments to write a few names on the beneficiary designation forms. The repercussions can be Read More

Training the Next Generation Through a Family Limited Partnership

Dave and Eleanor Watson headed up a family of four children, nine grandchildren, and two great grandchildren. Their success in life had enabled them to amass a modest fortune that they hoped would benefit their family for future generations. They established a family limited partnership to manage their wealth. Dave and Eleanor also hoped their family limited partnership would help train the next generation in Read More

Lifetime QTIP Trusts and Your Second Marriage

Diane was a successful business owner with three children from her first marriage. Jack, a car salesman, was father to two children from his first marriage. When they found love the second time around, they realized it was time to update their estate plans to meet the needs of their blended family. Their goals were slightly different, though. Diane, the wealthier of the two, lived at a higher standard of living than Read More

Estate Planning Lessons from George Washington and Abraham Lincoln

The President of the United States is one of the most powerful individuals in the world. The power held by this office (and the corresponding pressure) is mindboggling to the average person. Attention to detail, given the number of issues presidents consider, is critical. However, some presidents managed to ignore something as important as executing an effective Will. As George Washington and Abraham Lincoln found Read More

Florida Ancillary Probate

Elizabeth, a 49-year old Washington resident, died leaving real property including a vacation home in Florida. Jack, an entrepreneur who lived in Massachusetts at the time of his death, left behind an estate that included credits due from Florida residents. And Dana passed away in Minnesota, but had liens on property located in Florida. What do these three people have in common? Their estates will all be subject to a Read More