Estate Planning

Friday, June 28, 2019

Review Your Estate Plan Every Few Years

Finally having an established estate plan can be a big relief. It is so often something on a person’s to-do list that keeps being put off. When you have an estate plan in place, it can feel like a weight has been lifted from your shoulders. You know that your wishes have been memorialized in legally binding estate planning documents. You know how your family will be provided for after you pass.
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Wednesday, May 29, 2019

Review Your Estate Plan Every Few Years

Finally having an established estate plan can be a big relief. It is so often something on a person’s to-do list that keeps being put off. When you have an estate plan in place, it can feel like a weight has been lifted from your shoulders.
Read more . . .

Wednesday, May 29, 2019

Protecting Your Assets from Nursing Home Expenses

Will my assets be seized to cover the costs of my nursing home care?

The American population is aging and currently over 10 million Americans need long-term care services.  More than 70 percent of all people over the age of 65 need to anticipate requiring long-term care at some point during their lives, which could involve moving into a nursing home or benefitting from care at home.  With the costs of long-term care ever rising, it is critical that you take steps well in advance to protect your assets so that you can qualify for Medicaid. Our
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Wednesday, April 24, 2019

Creating an IRA Trust

What are the benefits of placing your retirement assets into a revocable trust?

Working Americans may contribute significant assets to their individual retirement accounts over their lifetime.  With so much wealth becoming concentrated in IRA accounts, it is worth considering placing your IRA funds within a trust.  An IRA trust is a revocable living trust that is designed to be the beneficiary of your IRA assets upon your death.  This type of trust can come with several key benefits, including protection from the beneficiary’s creditors and the ability to spread out distributions.  Our Read more . . .

Friday, April 19, 2019

Responsibilities of an Executor

In all of the decisions that come in the estate planning process, you may wish to breeze through things like selecting who will be the executor of your estate. However, this is an important choice that merits some time and consideration. The executor is charged with overseeing the entire estate during the probate process. These are serious responsibilities that must be handled with great care. Some people wish to just select a friend or family member for the role of executor.
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Thursday, March 28, 2019

Tampa Estate Planning Attorney

You may, like many others, have a family member or loved one that has special needs due to a physical or mental disability. You may also wish to leave him or her an inheritance or provide them with monetary assistant and want to make a provision for that during the estate planning process. The problem arises due to the fact that an inheritance may be counting as income for the purpose and may thus jeopardize any government benefits your loved one with special needs either currently receives or may receive in the future. This, however, is not an insurmountable obstacle. The problem can be avoided through the use of a special needs trust.
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Thursday, March 21, 2019

Do I Need a Trust?

One of the first questions that those setting off on the estate planning process will often ask their attorney is: “Do I need a trust?”  While most of us recognize the need for a Last Will and Testament, much confusion swirls around the concept of trusts and when they are needed.  Trusts accomplish many purposes that a will cannot, but they are not needed for every situation.  Our Tampa, Florida estate planning lawyers discuss the uses of trusts and how to determine whether a trust is the right estate planning tool for you.

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Friday, February 15, 2019

Creating an Education Trust

What are the benefits to leaving money for my child in an education trust?

The costs of a college education are ever rising.  According to the College Board, the average cost of tuition for the 2017-18 school year was $34,740 at private colleges across the country and $9,970 for state residents.  Education is one of the greatest single expenses a parent will occur, so starting to save early is imperative.  One option for parents is to Read more . . .

Friday, February 8, 2019

Examining the Pros and Cons of a Revocable Living Trust

Do I still need a will if I create a revocable living trust?

Revocable living trusts have become a popular estate planning tool in recent years.  Trusts offer several major advantages over a traditional Last Will and Testament, but they may not be right for every person.  Below, our Tampa estate planning lawyers review some of the advantages and disadvantages of revocable living trusts.
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Friday, January 25, 2019

Plan Carefully to Pass Down Your IRA Assets

Can a trust be the beneficiary of my IRA?

Individual retirement accounts have become a significant asset for most Americans. According to the Investment Company Institute, Americans hold over $9.2 trillion in individual retirement accounts (IRAs). Over 43 million people own IRAs and these accounts have an average balance of over $100,000. With such significant wealth in IRAs nationwide, it becomes critical for IRA holders to plan for the transference of their assets to their heirs.

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Monday, January 21, 2019

The Dangers of DIY Wills

Will a fill-in-the blank will be enforceable in Florida?

In the digital era, it is easy to find almost anything you search for online.  Those seeking to create their own will online will find no shortage of standard form type wills.  The problem with the web, however, is that anyone can post nearly anything.  As such, a supposed Florida will found on the internet might be completely invalid per state law.  Websites like LegalZoom offer more assurance than the standard form will and could comply with the law, but nonetheless these do-it-yourself wills suffer from some major shortcomings.
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