Category Archives: Estate Planning
Why Do I Need Beneficiary Designations If I Have A Will?
A will—like other elements of your estate plan, such as a trust, advance directive, health care proxy, power of attorney, etc.—is part of a bigger whole when it comes to estate planning. Beneficiary forms are another essential part of this process. They designate who you want to receive proceeds from certain accounts, such as… Read More »
Marital Trusts and Qualified Terminable Interest Property Trusts in Estate Planning
When it comes to estate planning, two of the most popular types of trusts that individuals and couples rely on are known as the Marital Trust and the Qualified Terminable Interest Property (QTIP). Both of these options allow clients to mitigate tax burdens by keeping in place the tax exemption to be used by… Read More »
Your Estate Plan Is Likely Out of Date Due to Our “Digitized” World
As estate planning attorneys here in Florida, one of our regular tasks is to update estate plans with our clients, because not only do life circumstances changing all the time, but the law is also changing as well, warranting important updates. In addition, more and more is being done online, especially when it comes… Read More »
Do Wills Need to Be Probated In Estate Planning?
Figuring out both the overlap and differences between estate planning and probate can be complicated. For example, while many wills are never probated, most of them probably should be. What we mean by that is: when a will is presented for probate, an estate is open, and a personal representative is appointed, and the… Read More »
What Must A Surviving Spouse Do Immediately After Their Spouse Passes In Order To Protect Themselves?
What most people think about in estate planning in the event of their death is how to make sure a loved one’s beneficiaries are taken care of, but what about surviving spouses? Most-everyone focuses on administering the estate of the decedent, but very little attention is given to the legal needs of the surviving… Read More »
How to Approach Estate Planning Without Triggering a Family Feud
One of the biggest concerns people have with approaching their families about estate planning is that a feud will break out if they do. Yet, if you fail to discuss these important issues with them, it is entirely possible that feuds will occur, and discord, rancor, and resentment will form amongst your heirs. Below,… Read More »
Estate Planning Doesn’t Just Involve Tax Benefits
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 »
Considering a Durable Power Of Attorney & Health Care Surrogate when your Child Leaves Home
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 »
Estate Planning Tips for Young Parents
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 »
What to Consider Before Saying ‘Yes’ to Serving as Someone’s Trustee
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 »