It may be important for unmarried couples in Florida who live together to create estate plans to ensure that they have certain rights that are granted automatically to married people. First, each person should have a health care power of attorney that authorizes the...
Month: February 2019
Why everyone should have an estate plan
Individuals in Florida and throughout the country could benefit from having an estate plan. This is true even if they have few assets and no children. According to the American Association of Retired Persons (AARP), 78 percent of millennials don't have a will or other...
The necessity of estate planning
It's a prevalent belief that estate planning is only necessary for the wealthy. However, the truth is that money and other assets, regardless of how much they are worth, can be subject to court costs and fees if the owner died without completing certain estate plan...
When is a spendthrift trust a good idea?
A spendthrift trust is a trust over which the beneficiary does not have control. Rather, a trustee, which can be an asset management company or registered investment advisor, oversees the trust's funds and assets and distributes them in a controlled manner. The...
What are Florida’s death taxes?
Whether you are a lifelong resident of Florida or you wish to make the Sunshine State your new home post retirement, it is important that you understand the various taxes your estate beneficiaries will have to pay upon your passing. Fortunately, there is not much to...
Probate disputes and sibling rivalry
The probate process can be challenging for a myriad of reasons, and those who are struggling with the recent loss of someone they love may be incredibly stressed out when it comes to managing the estate. For example, someone who is in charge of managing their loved...
The need for estate planning
A personalized estate plan can be used by individuals to help ensure that their wishes and objectives are honored should they become incapacitated or when they die. Even if they have no children or any other close living relatives, Florida residents should still...
What do I need to know about having an estate sale?
Estate administration can get complicated after the death of a loved one, especially if the deceased was your last remaining parent. You likely received an inheritance, which could include a monetary sum, as well as your parents’ possessions. In fact, your...
Interested parties and contesting wills
When Florida residents want to contest a will, there may be a question as to whether they are an interested party as it pertains to the estate of the decedent. It is important to note that interested parties are not limited to the people who are listed in the last...
What you should know about gift taxes
Even with tax cuts regularly in the news and media cycles, many Florida [BW1] residents fail to understand exactly how the changes will affect them and their estate, specifically in relation to the gift tax. A gift is considered a transfer of money to another...
