Category Archives: Estate Planning
Deciding Whether to ‘Gift’ During Your Lifetime, And How Best to Do It
Giving away assets while you are alive has typically carried with it a number of benefits, one of them being helping to lower estate taxes when you pass. However, the federal estate tax exemption is currently very high: at $11.4 million per person–and increasing every year–this exemption ends up being applicable to very few… Read More »
Pending Legislation Could Inadvertently Make The IRA Your “Biggest Beneficiary”
A retirement bill is advancing through Congress which could have implications for retirees and their estate plans. The legislation is called the Secure Act, and does a number of things, including delaying when people would have to take required minimum distributions (to age 72), extending the age limit that allows people to place money… Read More »
Property Needs an Estate Plan Just Like Anything Else
As Orlando estate planning attorneys, we talk a lot about how to pass assets and funds onto beneficiaries. But what about land? Land that is passed down without a will can also be lost in the same way that everything else that’s part of an estate can. Specifically, when land is passed down without… Read More »
The Most Important Estate Planning Mistakes to Avoid
Estate planning doesn’t just involve a last will and testament; the estate planning attorney that you work with should offer you a broad array of services, such as drafting living trusts and advising you on how best to avoid estate taxes; as well as a number of other issues and how best to handle… Read More »
The Most Important Tax Issues to Consider If You Are an Executor, Trustee, Or Administrator
There are a number of key tax questions that pop up when a loved one passes away and you are responsible for their estate as the executor. Below, we discuss some of the most important considerations to take into account if you are responsible for an estate: General Responsibilities The executor of an estate… Read More »
Have You Properly Accounted for Digital Assets in Your Estate Plan?
There is arguably enough to worry about when it comes to estate planning without also having to plan for a new type of asset, and one that can be present challenges to even the most tech-savvy of us. Still, as part of your overall estate plan, you need to make sure that you have… Read More »
Can I Choose a Non-Resident Executor (Personal Representative) for My Estate?
We have discussed what an executor (known as “personal representative” in Florida) is, who can be appointed as one, and whether/how they can be removed. Personal representatives can be selected by those setting up their estate plans or by the judge to take charge of the administration of a decedent’s estate. They identify, organize,… Read More »
How to Protect Art & Antiques in Estate Planning
As attorneys who practice in estate planning here in Florida, one of the most common questions we receive is how to intelligently cover estate planning for art, antiques, and other personal property valuables. These items frequently pose additional layers of complexity when it comes to a estate planning; complexities beyond what real estate or… Read More »
Estate Planning “When You Hate Your Son-In-Law”
As attorneys who regularly practice in the area of estate planning and probate, we frequently assist clients who have concerns about which family members are going to be privy to their estate. Specifically, there are a number of families that have concerns about certain family members—such as in-laws—and they will sometimes seek counsel from… Read More »
The Dangers of Do-It-Yourself Estate Planning
In a society that is obsessed with all things do-it-yourself, it can be enticing to apply the same motto to estate planning. However, “doing it yourself” when it comes to estate planning can be downright hazardous for the reasons we discuss below. Templates First, when it comes to estate planning, “one size” does not… Read More »