As you work on your estate plan, something that you may want to include is special needs planning. If you have a child or dependent that turns to you for support due to a disability, then special needs planning is essential.It’s a good idea to do any special needs planning you need to do as …
Having an estate plan in place is highly beneficial. Proper estate planning allows you to make informed decisions about the handling of your assets and gives you the opportunity to maximize the value of your estate.With the many benefits comes the potential for making mistakes during the estate planning process. Familiarize yourself with common estate planning …
Why Your First Call After Winning the Lottery Should Be to Hire a Good LawyerIt sounds like a dream come true, but if you’re not careful, it can become a nightmare. If you win the lottery, or find yourself the recipient of any major financial windfall, you might think your biggest decision will be what …
What Happens If I Become Disabled Without a Durable Power of Attorney?Put your mind at ease by including a Durable Power of Attorney in your estate plan. This way, you will know that someone you know and trust – not the courts – will handle your affairs on the chance that you become incapacitated.Without a …
It’s tax season. The time of the year when you generally have all your important financial statements in one place. This is a good time to review your estate plan to make sure you are headed in the right direction, or to implement one if you haven’t yet.Key Areas on Which to FocusYour estate plan …
There are many Florida residents who may think that estate planning is a task for “older” people to take care of. However, this couldn’t be further from the truth. In reality, everyone – young, old, married, single, rich, poor, and everyone in between – would benefit from having an estate plan in place, and yes, …
If you have a high school senior in your home, you know things are about to change. Most parents are so used to being able to make financial decisions for their child, access their child’s physician or health records that they don’t even think about how that changes once the child turns 18. You’ll want …
Most gifts are not subject to federal income tax and do not need to be reported to the Internal Revenue Service as income. For instance, you can give a gift to your wife or make a philanthropic donation to a charity without their being subject to the gift tax. (In fact, charitable donations are often …
Florida law treats adopted children and stepchildren differently for the purposes of inheritance. Legally adopted children are treated the same as children born to their parents and are considered lineal descendants of their adoptive parents and grandparents. Adoption terminates the rights of the biological parents and family, but there are exceptions. Similarly, adoption terminates the …
You’re not alone; many Florida residents tend to put off their estate planning. It may be an uncomfortable decision for some, or others could be too busy with their lives to bother. For most of us, it’s easier just to say we’ll do it later.But naming your beneficiaries is a crucial step in proper estate …
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