Category Archives: Orlando Estate Planning Lawyer
Advantages of Holding Property in Trust
Setting up a trust for children or grandchildren is a common practice. After all, there are times when parents want to set up parameters for the inheritance of their adult children. This could be because they worry their child will use their inheritance on unhealthy habits or that the spouse of their child will… Read More »
The Annual Gift Tax Exclusion Can Shed Some Holiday Cheer on Your Estate Planning Process
When your children were little, the holidays were a time of unbridled excitement. What could be more fun than watching your children discover previously unseen details in the holiday décor, tear open the wrapping paper on their presents, and stuff their faces with candy canes and gingerbread cookies? Now that they are adults, the… Read More »
Planning the Future of Your Florida Assets
In order to take care of the ones you love after you pass away, it is important you make proper estate plans. This is true for everyone, not just individuals with massive amounts of property and assets. If you have assets and you want them to be distributed to your beneficiaries, talk to an… Read More »
What Happens If You Do Not Designate a Guardian for Your Child, And Something Happens to You Both?
Guardianships are more important than many realize. Here in Florida, we hear a lot about them with respect to the elderly, especially concerning the corruption that has been unearthed in connection with some professional guardians and examining committees that judges rely upon in deciding whether individuals are incapacitated and in need of a guardian…. Read More »
How A Castle Trust Can Help You Manage Long-Term Healthcare Costs
We have frequently discussed forming trusts in order to protect your estate from going through probate and allow you to directly pass your assets onto your heirs. But one particular type of trust that you can use – especially if you are concerned about potential nursing home or other healthcare costs at some point… Read More »
If You Own a Second Home, Make Sure You Plan for It in Your Estate Plan Now
More than seven million Americans have second (or vacation) homes, and many are now concerned that, as a result of the coronavirus bailouts, they could face an increase in estate taxes in the next few years. For this reason, planning for these assets is a very important part of your estate planning process, and… Read More »
Estate Planning for A Farm
While a farm is technically property, good estate planning for a farm can sometimes be different than planning for other property in that some families have owned and worked that land for decades and have very specific goals in mind when it comes to succession planning. Estate planning when it comes to farms also… Read More »
The SECURE Act Passed in The Night: What This Means for Your Estate Plan
While everyone was busy with the holidays, legislators effectively passed the SECURE Act’s provisions in the budget bill signed in late December. We have previously discussed the important effects that the legislation will have on stretch IRAs and thus estate planning for non-spouse beneficiaries, however, the changes made via the Consolidated Appropriations Act –… Read More »
The Most Important Mistakes to Avoid When It Comes to Naming Beneficiaries
We’ve previously discussed the importance of beneficiary designations and keeping them updated in order to ensure that certain assets such as your 401(k) and life insurance policies are passed on in accordance with your wishes. Below, we also discuss some of the most common mistakes when it comes to naming beneficiaries and how you… Read More »
Inherited IRA Rules You Should Be Aware Of
If you have inherited an individual retirement account (IRA), it can be very confusing in terms of how your new account or asset is affected by estate, financial and tax planning. Your choices very much depend upon if you are a spouse or non-spouse, who left you the IRA, and whether the original account… Read More »