Why should you get your estate plan taken care of as soon as possible?Provide For Your FamilyWithout a proper estate plan in place, your family may get less that what you expect them to receive from your estate and it may take them longer to get it. This means your loved ones might be left …
How Will You Spend Your Golden YearsIt goes without saying that one of the best days in your life, as you age, is the day you finally retire. Indeed, after decades spent putting in long days and making long commutes, you are finally free to enjoy the fruits of your labor, perhaps taking up a …
Asset protection refers to techniques, strategies, and laws that aims to protect assets against third party claims.The First Priority – Stay Out of CourtA well-constructed estate and asset protection plan has three fundamental goals:Keep legal control in the family – and avoid a court stepping into your personal financial or family affairs.Protect your savings and …
You may have heard the terms “Executor” “Executrix” “Administrator” “Administratrix”, or “Personal Representative.” These are all synonymous terms used to describe the person entrusted with administering the estate of a person that has passed away. Florida uses the term “Personal Representative” for this person. The Personal Representative is appointed by the court to oversee the …
Common Estate Planning MistakesHere are 7 of the most common estate planning mistakes people make:Not Communicating with Your Heirs. Anyone who is assigned a role in your estate plan — agent, personal representative, trustee, etc. — should know what their responsibilities are once you pass away. We encourage our clients to communicate with those persons so …
Probate Administration (usually just referred to as “probate”) is the legal process for transferring the assets of a deceased person to the beneficiaries under their Last Will and Testament, or if none exists, then to their heirs as determined by statute. Probate typically requires some kind of court supervision in the distribution of assets, either …
A Designation of Health Care Surrogate is a legal document that allows you to choose someone to make important healthcare decisions on your behalf if you are unable to do so yourself. Some of the benefits of having a Designation of Health Care Surrogate are:It ensures you get the treatment you want according to your …
Losing a loved one is never easy, especially when that loved one is the person with whom you shared a home and life. The stress and grief may be compounded But, what happens if your spouse never updated their will to include you after you got married, or perhaps did not include you in a …
When creating your comprehensive Florida estate plan you should include your digital assets. Your digital assets could include a range of electronic records, including everything from social media accounts, like Instagram and Facebook, to digital photos stored in iCloud or Google Photos, to email, and even to online financial accounts, like Apple Pay, Google Pay, …
Trusts can be very effective tools for reducing estate taxes and avoiding the Florida probate process.However, trusts come in countless shapes and sizes and many people do get confused about the types of trusts exist and how they differ from each other.A few different kinds of trusts are:Living trust — This is established and goes into …
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