It's common for aging parents or family members to sign a power of attorney agreement. These legal documents allow a trusted person (the "agent"), usually a close family member such as a child, grandchild, or sibling, to act upon the principal's behalf when the owner...
Month: March 2013
Florida law allows for some changing of trusts
"Decanting" a trust is a legal option that's becoming more popular; some states have adopted decanting statutes, including Florida. To decant a trust means to rewrite or redo the old trust to account for changes or unforeseen circumstances that the original wording in...
Changes to federal estate tax are beneficial for most
Federal tax laws have finally stabilized into a clear deal that benefits most estate owners across the country. Under the new rules, each individual can exclude $5.25 million, including gifts, from their estate taxes this year. In addition, the new top estate tax rate...
Litigation over James Brown’s will finally at an end
When James Brown left behind a detailed will and trust before his death in 2006, he couldn't have expected the battle that ensued between his children, a former wife, and the South Carolina Attorney General. After years locked in a will contest, the Supreme Court...
Healthcare proxies can make end-of-life decisions easier
For many people in Florida, thinking about estate planning can cause mixed emotions. While planning for the disposition of one's estate after death is necessary, it can be uncomfortable to think about one's mortality. However, not all estate planning decisions will...
