Few states boast more vacation homes than Florida. With its white sands and alluring temperatures, Florida is a fantastic place to retire. What happens, though, when an individual's estate value is questioned or even altered because of vacation home holdings? Proper treatment of second homes in an estate plan can lessen the number of problems experienced by relatives and beneficiaries after a benefactor Read More
PROBATE JUDGE AWARDS ESTATE TO MAN’S FRIEND
A probate judge in Florida has decided that blood really is not thicker than water. In the notable estate litigation case, the judge effectively left a man's family out of his estate plans. The family had argued that the beneficiary of their relative's will was a swindler, even though he had been a long-standing family friend. The decedent in this case reportedly died in poverty, although he owned land that could Read More
ESTATE PLANNING FOR YOUR SMALL BUSINESS
As an owner of a small business, you may be concerned about accurately estimating yourestate value while drafting your estate planning documents. Even though tradition dictates that the heirs to a small business often suffer from a variety of legal and tax headaches, you can avoid that misery by taking the time to plan ahead. Estate planning for your small business allows you to provide for your family while making Read More
DON’T ESTATE PLAN BY DEFAULT
True or false: When you pass away, your family members will automatically be taken care of, even if you have not made a comprehensive estate plan. If you think that statement is accurate, you may be estate planning by default, a dangerous practice that can cause serious financial problems for your estate and your heirs. In fact, estate planning without a specific goal can lead to a variety of unintended Read More
MILLIONAIRE’S WILL CONTESTED
Scores of Florida residents are vulnerable to others taking advantage of their financial assets in the wake of debilitating illnesses such as dementia and Alzheimer's. Stories abound about these elderly victims being fleeced because of predatory friends, relatives and acquaintances. Now, one man's estate is facing estate litigation after he left the majority of his $1.6 million estate to the conservator of his will, Read More
TIPS FOR DISSOLVING YOUR TRUST
Setting up a trust can be a valuable decision for your estate plan. Trusts allow you to protect specific assets from estate tax burdens for example, and they have a variety of other business-related uses. Now, though, many investors are learning that trust matters do not only relate to the establishment of the trust, but also its dismantling. With the estate tax structure changing, some families find that they need Read More
HOW WAL-MART FOUNDERS KEEP THEIR BILLIONS
If you were one of America's richest families, how would you avoid paying estate taxes? That is a question that the Walton family, the founders of the ubiquitous Wal-Mart mega-chain, must answer on an annual basis. With an estate value reaching into the hundreds of billions of dollars, the Waltons' exploitation of legal loopholes is nothing short of admirable. Critics say that the Waltons' deft manipulation of the Read More
HANDLING ELDER CARE IN A NEW WAY
Florida's aging population is facing important life decisions. Whether older residents are making provisions for their will execution or deciding whether to enter an assisted care facility, they may feel overwhelmed by the options. Even worse, family members can often become combative when attempting to make decisions for their loved ones. If you and your relatives are unable to peaceably solve your end-of-life care Read More
DEATHBED MARRIAGES CONTINUE TO CAUSE HEADACHES
Deathbed marriages have become a topic for debate throughout the nation. When two people tie the knot as one is about to pass away, estate litigation is almost certain to follow. As many states grapple with the rights and responsibilities that should be awarded to spouses in such cases, Florida has made definitive steps to delineate the legal rules surrounding deathbed marriages. Florida is considered a Read More
SHOULD YOU CONSIDER A TRUST?
When you hear the phrase "trust fund," you might immediately think of heiresses and high-level socialites who benefit from money set aside by their families. What you might not realize, though, is that trusts have a much wider application for Florida benefactors than simply providing extraordinary amounts of money for a child. In fact, you do not have to be wealthy to choose to administer a trust. In the right Read More
