One particularly useful tool in the estate-planning tool box is a spendthrift trust. It's name may make you think that it's only good for heirs with the tendency to burn through their money. However, spendthrift trusts are actually good financial vehicles for those in...
Month: April 2020
Understanding conservatorships and guardianships in Florida
If you are starting to think about your future health care and you want to plan for an eventuality in which you become incapacitated, you'll likely be interested in the possibilities that are presented in the form of conservatorships and guardianships.However, many...
Dealing with a loved one’s home as their estate executor
When your best friend or a family member asked you to be the executor of their estate, you probably said something like, "Sure, but that will be long time from now." Maybe it was and maybe it wasn't, but that day is here. The responsibilities may seem enormous, or...
Downturned markets help you move money out of your estate
With the market taking a downturn, now may be a good time to look over your estate plan and think about reducing your estate taxes. You might be worried about your declining stocks, but the reality is that this is a perfect time to enhance your tax and estate...
What factors slow down the probate process?
When a person dies, their estate goes to probate. The length of time that this process takes varies by state. It can take anywhere from several months or years depending on the court's caseload and the complexity of the case. Other factors may slow down the...
New Updated Deadlines for All Business Entities
As you know, all Florida business entities are responsible for filing Annual Reports regardless of whether or not you received a notice by email. Please note that pursuant to Executive Order No. 20-52 and Department of State Emergency Order 2020-01 signed March...
How an attorney assesses a testator’s testamentary capacity
For a person to execute a valid will, they must demonstrate that they have testamentary capacity. An individual must be at least 18-years-old to become a testator, or person who drafts a will, here in Florida.That same individual must show that they have the mental...
The top benefits of living trusts
If you are currently planning your estate, you may be considering additional estate planning strategies to help your beneficiaries to maximize their inheritance. You'll probably know that the main disadvantage to wills is that all assets must go through the probate...
What should you cover in your health care advance directive?
A health care advance directive is an essential part of any estate plan. In fact, many younger people who haven't gotten around to determining who they want to inherit their assets after they're gone have an advance directive in place in case they're seriously injured...
What should not be included in a will?
Wills are documents created so that a person can make their wishes known. This enables their financial estate to be managed according to their wishes in the event that they become incapacitated or lose their life.If you are considering creating a will, you may be...
