Florida residents may create trusts for a variety of reasons. For instance, they may do so in an effort to protect assets or minimize an estate tax bill. While a trust may exist in perpetuity, there are ways in which such a document may terminate. For instance, the...
Month: October 2019
Estate planning strategies for probate avoidance
When planning your estate, you will probably conclude that probate is an inefficient process that is costly and time-consuming. Probate means that your beneficiaries will inherit a lower portion of your estate due to the costs involved. Understandably, many estate...
Favoring one child over another in an estate plan
When it comes to estate planning, it is common for people to think that all children in the family should be treated equally. Florida parents who would like to favor one child over another know what a stressful decision this can be. There are a lot of reasons why...
What are the common reasons for a delayed probate process?
At least a portion of most people's estates need to go through the probate process at the end of their lifetime. Probate can be take time and be costly because of the court administration that is involved.If your loved one has recently passed and their assets are...
How to choose a trustee
When estate owners in Florida, or anywhere else in the country, create a trust, they typically do so because they want to ensure that their money is managed and distributed in a particular way. In some cases, this is because the trust creator wants to encourage a...
Don’t have a will? Neither do most Americans.
There's a curious sort of mindset that people seem to have when thinking about estate planning and drafting a will. On one hand, if asked, they would admit that they need a plan. They know they have assets. They know they have heirs. They know that one day they will...
Some estate planning concerns for blended families
When people in Florida plan for the future, they may have some additional complications to keep in mind if they have blended families. Many people think they do not need to have a will and can just allow their property to pass on via intestacy. Others may opt for an...
Planning for Medicaid eligibility in your senior years
You may have health coverage and a decent nest egg, including significant assets and savings, but as most people in Florida know, it does not take long for a medical emergency or long-term health care to completely wipe you out. At the , we...
What is the death tax?
You may assume that the only escape from taxes is death, but for some residents of Florida and elsewhere, this is not always the case. People above a certain wealth bracket may have their estates taxed upon their death. It is important for you to understand if you are...
What to know about estate planning before an election
Politics can have an impact on the type of estate planning techniques that individuals in Florida and elsewhere use. However, individuals are urged to not let potential changes to estate tax laws completely dictate their decision-making process. For instance, it may...
