Protecting
Your Legacy
As many Florida residents may know, setting up an estate plan may be way for an individual to direct asset allocation after they die. With changes in estate tax limits, individuals are able to create an estate plan that is broader, incorporates beneficiaries who are...
Individuals in Florida who are estate planning should keep in mind that how they prepare their loved ones is as important as how they prepare the documents related to their estate. Family members may be unwilling to discuss estate plans, bad at organization or...
Individuals in Florida who are estate planning might wonder how they should divide up their assets among their children. For example, if their children have different income levels and needs, they might wonder whether they should leave less for the more secure child...
While people may have heard of a revocable living trust, they may not be exactly certain of what the term means or how such a trust functions. Trusts may generally be divided into two broad categories, including revocable living trusts and irrevocable trusts....
Based on the results of a nationwide survey, many Florida business owners may not have estate plans. The survey, which asked questions of more than 500 business owners, revealed that only about 70 percent have an estate plan in place. Of those who do not, around 30...
When an individual or a group of individuals are granted power of attorney, they are given the authority to manage an individual's affairs. In some cases, the power is limited to a certain action or set of actions. For instance, another person may be granted the...
Taking the time to think about estate planning issues now may make it easier to create a plan that meets an individual's needs. When coming up with such a plan, it is important to consider how estate and gift taxes may influence an estate's assets. For example, it is...
Florida residents who are planning their estates and the disposition of their assets when they die can learn from some mistakes recently made by a few celebrities. In many cases, errors were compounded by the celebrity's unexpected death. The estates of actor James...
As Florida residents may be aware, blending two families may come with its own financial considerations in order to provide not only for the new spouse in the future, but also to protect the children of both. Unfortunately, making new arrangements for this protection...
Florida recognizes the validity of spendthrift provisions in trusts created for the purpose of benefiting an intended beneficiary. Normally, a beneficiary who is subject to a spendthrift provision is one that is unable to handle his or her money appropriately. There...