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Category Archives: Estate Planning

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Estate Planning Doesn’t Just Involve Tax Benefits

By Gierach and Gierach, P.A. |

Many people see estate planning as a tax-saving strategy and a way to avoid probate—especially since the recent federal estate tax laws doubled estate, federal, gift, and GST tax exemptions to $10,000 per person. However, there are a number of other benefits and details to keep in mind when it comes to approaching your… Read More »

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Considering a Durable Power Of Attorney & Health Care Surrogate when your Child Leaves Home

By Gierach and Gierach, P.A. |

When most people think of estate planning tools like durable power of attorney and healthcare surrogate, they think of older couples making plans for their beneficiaries for when they pass. However, some parents actually set up a health care surrogate and power of attorney for their child when they head off for college in… Read More »

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Estate Planning Tips for Young Parents

By Gierach and Gierach, P.A. |

Young people often do not consider getting their estate plans set, believing it can wait until they are older. But when they become parents, it’s important to at least establish a minimal plan to protect their children in the event of their untimely passing. The following are a few estate planning tips for young… Read More »

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What to Consider Before Saying ‘Yes’ to Serving as Someone’s Trustee

By Gierach and Gierach, P.A. |

You are not legally required to take on the responsibility of trustee if you are asked to do so, or even if you were named trustee without your knowledge. There is typically a list of people named in an estate plan to be potential trustees, and if you decline, the next person will then… Read More »

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Tips for Estimating the Value of a Deceased Person’s Real Estate

By Gierach and Gierach, P.A. |

If you are the executor of an estate that includes a house or another piece of real estate, you will need to figure out exactly how much it is worth. The value of the property could affect estate taxes, along with the probate and asset division processes. In many cases, inheritors will put the… Read More »

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How to Choose Which Person Will Have Power of Attorney

By Gierach and Gierach, P.A. |

At some point, your estate plan is going to become outdated. This will likely happen when your children become grown, your financial condition changes or when you reach retirement. When your own personal situation changes, it’s important to make sure you make the corresponding changes in your estate plan, as well. The following are… Read More »

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Why it’s Important to Make Sure Wills and Trusts are Updated

By Gierach and Gierach, P.A. |

At some point, your estate plan is going to become outdated. This will likely happen when your children become grown, your financial condition changes or when you reach retirement. When your own personal situation changes, it’s important to make sure you make the corresponding changes in your estate plan, as well. The following are… Read More »

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When to Update Your Will

By Gierach and Gierach, P.A. |

By regularly reviewing your will and ensuring it is properly updated, you lessen the risk of an inheritance dispute occurring over your estate. Here are some events that warrant a possible update of your estate planning documents: The changing family scene If new children or grandchildren are born or adopted, or if a child… Read More »

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Avoiding Probate

By Gierach and Gierach, P.A. |

When you pass away, your property generally passes either to the beneficiaries you have named in your will, or under Florida’s intestacy rules, if there is no will. The process of distributing a deceased person’s estate is called probate and it can be time-consuming and costly. There are ways to avoid the probate process… Read More »

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Common Will Mistakes

By Gierach and Gierach, P.A. |

Sadly, families sometimes fight over an inheritance. The reported court battle taking place between Revlon heiress Samantha Perelman and her uncle James Cohen is one such example. It appears Ms. Perelman is claiming that her uncle used undue influence in order to squeeze her out of her grandfather’s will. One way to reduce the… Read More »

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