Things you should Know About Gifts and Reporting to The IRS
On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | June 1, 2022 | Estate Planning
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 tax-deductible.)
Congratulations On Your Recent Graduate; Now Get Designated As Your Child’s Decision Maker
On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | May 18, 2022 | Estate Planning
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 to be designated as your child’s agent
Why Young People Need An Estate Plan, Too
On behalf of Law Offices of Frye & Vazquez, P.L. | April 8, 2022 | Estate Planning
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, young couples, in particular.
Tax Season is Always A Good Time to Review Your Estate Plan
On behalf of Law Offices of Frye & Vazquez, P.L. | March 8, 2022 | Estate Planning
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.
When it comes to a will or estate plan, don’t just set it and forget it. You need to keep them updated
On behalf of Law Offices of Frye & Vazquez, P.L. | February 2, 2022 | Estate Planning
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.
Talking to Your Aging Parents About Wills and Estate Planning - Part 2
On behalf of Law Offices of Frye & Vazquez, P.L. | September 10, 2021 | Estate Planning
In addition to the other topics covered in last month’s post, this conversation should ask where important financial items and documents are. Unexpected death, or just the gradual unmooring of dementia, could make these items seem to disappear, locking out assets that could become very important.
Talking to Your Aging Parents About Wills and Estate Planning - Part 1
On behalf of Law Offices of Frye & Vazquez, P.L. | August 16, 2021 | Estate Planning
How NOT to start a conversation with aging parents: "We need to talk To start things off, I want you to think about how you’re going to die
The Importance of Long-Term Care Planning
On behalf of Law Offices of Frye & Vazquez, P.L. | March 20, 2021 | Estate Planning
Life expectancy has increased in the U.S., and so it’s more important than ever to plan for your health needs as you age. Keep in mind the need for long-term care, either as in-home nursing care or at a residential facility.
4 estate planning mistakes to avoid
On behalf of Law Offices of Frye & Vazquez, P.L. | Dec 12, 2020 | Estate Planning
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.
Estate planning Priorities
On behalf of Law Offices of Frye & Vazquez, P.L. | Nov 14, 2020 | Estate Planning
Though most adults in the United State do not have an estate plan, ideally everyone over the age of 18 should. According to The Motley Fool, estate planning is an opportunity to provide for loved ones and protect your own interests in the face of life’s inevitabilities.
