You have a large family. When your fifth child is born, you realize that you want to set up an estate plan and pick guardians for the children. If anything happens to you, you want to make sure that they get taken care of.While most people think they need to pick one...
Month: November 2019
Key considerations for successful estate planning
When people in Florida think about planning for the future, there are a number of concerns that people may have in mind. Estate planning is an important process that allows people to pass on their assets to their beneficiaries, and there are a number of key legal...
What to do as a will executor
When a loved one in Florida passes away, a person left behind may be surprised to discover that they have been named the executor of the will. This task can come with serious responsibilities, including securing the person's estate and assets, notifying the...
What are the main reasons to avoid probate?
If you have recently started to research estate planning, you may have started to notice that a huge emphasis is placed on attempting to avoid probate. Probate is a court-supervised process that essentially ensures that all assets within an estate are distributed...
Tax law changes may spark review of estate plans
Tax law changes could affect the way that some people in Florida plan for the future. In 2019, the federal exemption for estate and gift taxes has reached $11.4 million per person or $22.8 million for married couples. This means that most people may not be exposed to...
Discuss your will with your adult children
There will come a time in your life when you should have a difficult discussion with your adult children. That discussion is about what they will do and what they will inherit when you die. No one wants to think about or talk about death, but it is an important...
Planning how a trust will end
Some people in Florida may want to consider creating a trust as part of their estate plan. A trust can be a good way to protect assets, but people should also be aware that trusts come to an end as well. It is important to plan how this will happen to ensure that the...
Smart tactics to avoid estate taxes
If you are planning your estate as someone with a high amount of assets, you will likely be concerned about estate taxes. While estate taxes at death are faced by less than 1% of the American population, these individuals must do what they can to minimize the taxes...
Drafting an estate plan to avoid probate
Florida residents usually put estate plans into place to reduce their tax burdens and ensure that their assets are passed to their loved ones in accordance with their wishes. This is generally done by using wills. Wills must go through the long and sometimes costly...
An overview of federal estate tax laws
When a person passes away, the contents of their estate will be subject to a wide range of fees and procedures. State laws can determine whether an estate will be subject to estate or inheritance taxes. However, federal law also has a large impact on when estates have...
