So, you are a Florida resident who has created a comprehensive estate plan, complete with trusts, appropriate division of property and provisions to prevent over-taxation. You have worked in cooperation with a qualified attorney to ensure that your will execution will go off without a hitch. Do not look twice, but you might have forgotten an important step in this process if you have not communicated your wishes to Read More
BASICS OF FUNDING A LIVING TRUST
Think you don't have enough money to consider using trusts in your estate plan? Think again. Experts say that trusts are applicable for a variety of clients. In fact, the amount of money in your bank account rarely disqualifies you from effectively using trusts to distribute your wealth after your death. Today, we are going to consider the fundamental characteristics of revocable and living trusts to help you Read More
INCLUDING PETS IN YOUR ESTATE PLAN
Many Florida residents consider their pets to be a part of their families; but will attorneys feel the same when the time comes to execute their wills? Smart estate administrationplanners say you ought to provide financial accommodations for your pets in your will. A variety of options exist to make sure your furry friend is well-off after your passing. Pet trusts exist specifically to help you provide for your Read More
USE POWER OF ATTORNEY WISELY
Powers of attorney are among the most powerful documents in will execution and estate planning. These documents allow other people to handle someone's financial or health matters if they are incapacitated. Not surprisingly, these wide-reaching powers are often abused by the trusted person who is named as the recipient. Attorneys give a variety of useful strategies for protection your elderly friends and relatives Read More
MAKE CHANGES TO YOUR IRA TO PROTECT YOUR HEIRS
As the Baby Boomers progress into retirement age, more people within that generation are considering how to manage their IRA in their estate administration plans. IRAs are among the most difficult assets for everyday investors to manage. Tax experts say that a few simple steps can help Florida residents craft an excellent estate plan for their IRA and other assets. First, remember to always update your beneficiary Read More
CHECK THESE PARTS OF YOUR ESTATE PLAN
Estate planning can seem like an intimidating undertaking. Many people think that they only need a will to address their estate planning needs, but a variety of options exist to help you distribute your wealth. Estate valuation experts often encounter clients who are unaware of the power of certain provisional documents in creating a complete estate plan. It is sometimes difficult to know how you can meet the real Read More
EXPERTS: FARMERS SHOULD DRAFT ESTATE PLAN EARLY
Florida's citrus growers might not be thinking about estate administration, but experts say it is never too early to draft and refine your estate plan. Farmers, in particular, need to be educated about estate planning because of their massive financial assets. Most farmers own a significant amount of land, along with large equipment and other holdings. Failing to adequately distribute those assets can cost your heirs Read More
DON’T LET MOVING PREVENT YOU FROM ESTATE PLANNING
Our society is increasingly mobile and fluid. As the economy shifts to accommodate these attributes, more people are finding themselves frequently relocating between states, including Florida, in order to accommodate their financial needs. As a result, they often fail to craft acceptable estate plans because they are unfamiliar with the rules in their particular state. This is a bad financial decision, according to Read More
ESTATE PLANNING FOR CHILDLESS COUPLES
Most people associate estate planning with heirs, specifically children. But what about those couples who have chosen not to have kids? If you are one of the millions of couples without children, you may be apprehensive about aging without an adult child to serve as your caregiver and decision-maker. Luckily, estate administration planning for childless couples is only slightly different than that for traditional Read More
FACEBOOK ASSETS IN LIMBO AFTER USERS DIE
Digital assets such as financial accounts and other holdings are becoming a hot-button topic among estate administration professionals. Still, some of those assets are poorly defined by traditional estate planning schemes; how, for example, does one distribute access to one's email accounts or Facebook profiles? Bills proposed throughout the United States would allow these digital assets to transfer to the executor Read More
