Estate planners in Florida often utilize trusts to protect wealth, save money on taxes and help their beneficiaries avoid probate court. After a person has established a trust, they can create another without revoking the first. This is one of several things that...
Month: December 2018
Include pets in the estate plan
Many Florida residents view their pets as family. However, they may not have included their pets in a will. It is a good idea for people to include their pets in their estate plans so they are truly prepared for any situation that may arise.You may already know who...
Supplement a will with other important documents
Many people in Florida feel that they have a handle on their estate planning if they make out a will and name a trusted executor. However, people may want to consider a more thorough approach to an estate plan, especially if they have significant assets or want to...
Disinheriting people in an estate plan
A person in Florida may want to wholly or partially disinherit a family member for a number of reasons. It is best to work with a professional to do this to make it less likely that the action is open to a successful legal challenge.Disinheriting a person using a...
Creating and revoking powers of attorney
Powers of attorney can be some of the most important documents to include as a part of an estate plan. These designations allow another person to act on behalf of the creator or principal. While some powers of attorney go into effect immediately, others take effect...
Estate planning and the widowhood effect
When people in Florida consider their plans for the future of their assets, they may turn their mind to the deaths of George and Barbara Bush. In 2018, George Bush died less than eight months after his wife passed away, a phenomenon that is far from uncommon. Often...
3 methods of reducing estate tax
As a Florida resident who worked hard to create a lasting legacy, chances are, you drafted an estate plan with the hope that doing so would allow you to maximize the amount you were able to leave behind for your loved ones. At the Law Offices of Frye & Vasquez,...
Special needs planning, part 2: first-party special needs trust
Our most recent post in this blog discussed special needs trust planning for a loved one who is unable to make his or her own financial decisions. However, as we at the , are aware, many Florida residents have physical disabilities yet are...
Special needs planning, part 1: what is a special needs trust?
As you may know, it is important that people with special needs, such as a lifelong disability, get the medical care they need, as well as other benefits and services. A disabled Florida resident who owns too many assets may become ineligible for Medicaid and other...
Tips for creating an indestructible estate plan
Florida residents who live in the path of a natural disaster could lose their homes in an instant. That could result in losing important estate planning documents. Therefore, it is a good idea to have a backup plan that accounts for a possible worst-case situation....
