Estate Planning

Monday, October 31, 2022

The Benefits of Putting Your Home in a Revocable Trust

Planning for the disposition of your assets is a critical part of estate planning. This will include deciding what should be done with everything from your personal property to your digital assets, to everything in between. If you are a homeowner, it should also include planning for your home. This is especially true considering the fact that a person’s home is oftentimes their biggest asset. While there are a number of ways you could plan for the disposition of your asset upon your own passing, you might want to consider using a revocable trust for these purposes.
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Monday, October 31, 2022

Watch Out for These Common Estate Planning Pitfalls

Estate planning involves putting critical legal protections in place that help preserve and advance your goals for yourself and those closest to you. It is important to have an estate plan at any age and at any income level. You do not need to be old and you do not need to be rich for estate planning to be important. Far too many people make the mistake of putting off estate planning or thinking it is unnecessary for them. It is important to remember, however, that there are other mistakes people often make when it comes to estate planning.
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Wednesday, September 28, 2022

What is an Affidavit of Heirs?

After a person passes away, the assets in their estate will be distributed according to the terms they have set forth in their will. Should a person pass away without a will, they are said to have died “intestate.” Without a will, the estate assets will be distributed according to state intestacy laws. Generally speaking, Florida’s intestacy laws direct that the decedent’s closest relatives inherit from a deceased individual’s estate and more distant relatives may inherit depending on what relatives survive the decedent. If there are no known living relatives of a person who has died intestate, their assets will escheat, or “pass,” to the State of Florida.
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Wednesday, September 28, 2022

What is Summary Administration?

If you have heard anything about the Florida probate process, it is likely to not have been something good. You may have heard how long and complicated the process can be. You may have heard how frustrating and expensive it can get.
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Thursday, August 25, 2022

Accounting for Cryptocurrency in Your Estate Plan

At this point in time, most people have digital assets. Our digital lives continue to grow and, with that, so do the digital assets we need to account for in our estate plans. Cryptocurrency, for instance, has not existed for very long, but continues to grow in popularity.
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Wednesday, August 24, 2022

Have You Ever Heard of an Incentive Trust?

In developing your estate plan, there are a number of dilemmas you may face. Yes, you may want to leave certain financial resources to your loved ones, but you may worry about where that money will go, how it will be spent, and when it will be spent. These are natural concerns. You are, after all, worrying about your legacy and what your legacy will be supporting. Fortunately, you can use an incentive trust to help ensure the money you leave to your loved ones go to supporting goals and achievements you would have wanted to support for your loved ones.
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Friday, July 29, 2022

Setting Up an Irrevocable Trust

You may have been resistant to the idea of a trust. After all, trusts involve some complex ideas and concepts. It can be difficult to wrap your ahead around let along figure out the right trust to establish to help further your goals and protect a future you want for you and your loved ones. After much investigating, you may have settled on setting up an irrevocable trust. After all, the benefits of an irrevocable trust are undeniable.
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Thursday, July 28, 2022

Trustee Responsibilities

A trust is created and funded by a trustor and is managed for the benefit of the beneficiaries by an appointed trustee. A trustee is either a person or an institution tasked with managing a trust. The trust document will, among other key terms of the trust, establish who is to be the trustee.

Being a trustee is a role rife with responsibility. The duties of a trustee are numerous and are not to be taken lightly.
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Monday, July 4, 2022

Kid Going Off to College in the Fall? Estate Planning Documents You Need

Your kids may get older, go off to college, and onto the real world, but they will always be your kids no matter what. Some of you may be spending the summer getting your son or daughter ready to move to college in the fall. It is an exciting time and you likely have an extensive to-do list. Be sure that seeing a trusted Read more . . .

Monday, July 4, 2022

Why Don’t Most Americans Have an Estate Plan in Place?

A recent study released by reveals that only about one-third of Americans have an estate plan in place. Based on surveys gathered by the senior living referral service, the study concluded that close to two-thirds of people in the U.S. have the vital legal protections that are established in a comprehensive estate plan.
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Sunday, June 5, 2022

Considerations When Choosing a Trustee

You may have heard of the many potential benefits of including a trust in your estate plan. Are you worried about probate? A trust can be a great way to avoid it! Are you worried about your beneficiary’s ability to manage an inheritance? A trust can pace and condition distributions to protect the inheritance from being quickly spent away.

If you have decided to establish a trust, one of the big decisions you will need to make is who to appoint as trustee.
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