Charitable giving may be of interest to people in Florida who are creating estate plans. It could reflect a person's commitment to a particular cause, but it can also help reduce estate taxes.There are several ways to include a charity as part of an estate plan. One...
Trusts
A trust offers different advantages than a will
If asked whether they have an estate plan in place, many Florida citizens would answer yes, they have a will, or no, they don't. While a will is a basic foundational document in any estate plan, it is not the best choice for most people. Although not the only purpose,...
What is an inter vivos trust?
Estate planning and all related matters can be a headache to handle. You have to become versed in specific terminology, understand how these terms apply to you, and know what options suit your situation best. Today, we'll take a look at a specific type of trust known...
Life insurance can fit into an estate plan
When people in Florida think about how they can protect their loved ones in the future, they may think about creating a will or developing an estate plan. In 2019, the youngest members of the baby boomer generation will turn 55, an age when many turn their attention...
Establishing more than one trust
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...
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...
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...
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...
Trusts are versatile estate planning tools
Many Florida residents utilize trusts in their estate plans to protect their assets. Trusts are valuable tools in estate planning because they are so versatile. The concept of a trust dates back to 4,000 B.C. when ancient Egyptians used trustees to manage other...
