When someone tells you to "do estate planning," you may not fully understand what they mean. Do not feel alone. Many Floridians are also confused about financial and health care documents that should be included in a comprehensive estate plan. Establishing your estate value is an important aspect of estate planning, for example. However, you may never have taken a full tally of your personal holdings. Before you get Read More
PLANNING YOUR FLORIDA WILL AS AN UNMARRIED COUPLE
Florida couples who choose not to marry - or who are prohibited from doing so - may worry about the future of their estate because of their non-traditional circumstances. These couples may fear that their will and other estate planning documents will not automatically include their significant other. Experts in the field say there are some extra steps you can take as an unmarried couple to make sure that your Read More
HOW TO TALK TO YOUR ADULT CHILDREN ABOUT YOUR FLORIDA WILL
You have probably already taught your adult children in Florida about the birds and the bees, but there is another important "talk" you need to have with your kids as you both age. That conversation has to do with your will and other estate planning documents. Experts have taken to calling this the "other talk," which outlines your wishes for the end of your life rather than explaining how life begins. As both Read More
WHAT WILL HAPPEN TO THE KIDS?
You are on your way back from a lovely date night when a tragic car accident occurs. With both parents catastrophically injured, would your children know what to do? Or, would they end up having to spend weeks in state custody because you failed to provide for their care in an estate document? Even if you are a Florida parent who prides yourself on parenting abilities, you may not be fulfilling all of your duties Read More
HANDLING FLORIDA VACATION HOMES IN ESTATE PLANS
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
