Estate Planning

Friday, January 29, 2021

Are There Different Types of Trusts?

A trust can play a prominent role in estate planning, but many people do not know much about trusts. A trust is set up by the grantor, also referred to as the “settlor” or “creator,” of the trust. It is then funded by transferring property into the trust.
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Thursday, January 28, 2021

How Is My Property Transferred at Death?

A large portion of estate planning really focuses on how property and assets are to be transferred upon a person’s death. It may seem like a detail to some, but how your property is transferred when you pass away can have a significant impact on things like how long your beneficiaries will have to wait until they are able to access an inheritance and how much of an inheritance may be whittled away by things like taxes and court costs and fees. Here, we will discuss the different ways that property can be transferred at death.
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Tuesday, December 22, 2020

How Are Revocable Trusts Taxed?

A trust can be a valuable estate planning tool for a number of reasons.
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Monday, November 30, 2020

What Is a Family Limited Partnership (FLP)?

There are so many estate planning tools that most people remain unaware of. Generally speaking, people associated estate planning with wills. They might know a little about trusts.
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Wednesday, August 19, 2020

Don’t Forget to Alter Your Estate Plan When You Divorce

Going through a divorce is such a tumultuous process that many people neglect to amend their estate plan in keeping with their new marital status. This can be a crucial mistake because although we generally assume that this task is not urgent -- you never know. Life is unpredictable and no one can foresee when an accident or health event may change everything, removing your opportunity to alter past decisions by updating pivotal documents. It is a good idea, during divorce negotiations, to get in touch with a

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Wednesday, August 5, 2020

Times to Consider Updating Your Estate Plan

If you have taken the step to develop an estate plan to protect your future and that of your loved ones, congratulations! Having an estate plan can go to great lengths in providing you with peace of mind that you and your family will enjoy certain legal protections in some of the most difficult times life can throw at you. While putting an estate plan in place is a great accomplishment, you must be mindful that your estate plan will only be most effective if it remains current and reflects your most recent life circumstances. In addition to scheduling periodic reviews of your estate plan, there are also certain times that should trigger a review and potential update of your estate plan.

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Thursday, July 30, 2020

Avoiding Probate with an Estate Plan

Will a Last Will and Testament help me to avoid probate?

Probate is the process by which the court distributes your assets to your heirs. In the state of Florida, as elsewhere across the country, probate can be a costly and time consuming process. Probate involves both court fees and attorney’s fees, and may tie up your assets for several months or potentially even years as the court works to distribute your assets either in accordance with your will or per the laws of intestacy. Fortunately, with some advance planning, there are ways in which you can avoid probate. A thorough estate plan can allow your assets to pass to your heirs without added expense or unnecessary delays.
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Monday, June 15, 2020

What Is a Legacy Trust?

Estate planning is perhaps most commonly associated with wills using this type of legal document to memorialize wishes regarding how you want your property distributed when you pass away. Estate planning, however, can go far beyond employing a will to distribute property to your heirs. In fact, many people choose to utilize different types of trust in estate planning.

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Friday, May 29, 2020

Estate Planning When You Have Young Children

Estate planning is important for everyone. It is not something just for older adults to take care of. Younger people tend to think that they do not need to estate plan because they have nothing of value.
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Thursday, April 30, 2020

Ensuring the Most Vulnerable Have an Estate Plan

How can I help my loved one in a nursing home make an estate plan?

The coronavirus pandemic has sent a message to all of us that our futures are uncertain. Most at-risk for serious illness or death from the virus remains the elderly. People aged 65 or older have a heightened risk of hospitalization or death from COVID-19. Perhaps the most vulnerable are Florida’s nursing home and assisted living residents. Nursing home residents are typically already in compromised health due to physical or mental illnesses.
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