1. The New Elective Share. A surviving spouse of a person who dies domiciled in Florida has the right to 30% of the decedent spouse's elective estate. The elective estate includes: the decedent's probate estate, revocable trust estate, ownership interest in accounts or securities registered in "Pay On Death (POD)" "Transfer On Death (TOD)," "In Trust [...]
1. Procrastination. 2. Not creating more than a Will in your estate plan. (You don't create a Revocable Trust because you believe only people with large estate need a Trust.) 3. Holding assets jointly with children (both for children's easy access to the money and for an "inexpensive" estate plan to avoid probate.) 4. Leaving [...]
A Will is an essential part of a comprehensive estate plan because it allows you to bequeath your estate to loved ones. Unfortunately, this document alone is not always enough to protect your family and your assets: Did you know: A Will does not avoid probate. To probate a Will costs 3% to 8% of your estate, [...]
An accidental loophole in American estate planning legislation could help the nation's richest citizens avoid billions of dollars in taxes. Billionaires in Florida are often required to pay outrageous 40 percent estate or gift taxes on their assets. Now, though, a newly popular type of trust is providing a critical tax shield that could have [...]
Even though the federal estate tax is affecting a smaller percentage of people every year, those with larger amounts of assets are more likely to suffer the ill effects of this particular fee. New federal estate tax rules protect individuals estates that are valued at $11.58 million or less, and couples' estates that are valued [...]
Even though America is a land of economic prosperity, our aging population lags behind elders in other countries when it comes to inheritances. Most Americans intend to leave behind about $177,000 for beneficiaries and others who would inherit property; compared to several other nations, that is a pittance. In fact, Floridians might marvel at the idea [...]
Many Florida residents do not think they are old enough to worry about estate planning. Surprisingly, nearly 80 percent of aging Americans do not even consider themselves "old" until they reach age 80. Although we are living longer, more fulfilling and more exuberant lives, it is important to remember that you must have a plan [...]
If you are one of the scores of Floridians who has put off creating your estate plan, you are not alone. In fact, scores of other baby boomers like yourself have waited to draft these important documents, sometimes with dire consequences. It is never too early to think about estate planning, which can make a noticeable [...]
You have saved up a significant amount of money for your Florida heirs, but you are concerned about their ability to spend their money wisely. For those who stand to inherit property, good financial foresight is a must. That is why about one in three benefactors is drafting an estate plan that will reduce the likelihood [...]
Do you think that estate planning is only for the wealthy? Think again. Almost all Florida residents could benefit from the expertise provided by an estate planning professional who can help you understand the implications of local law when it comes to your assets. No matter how many assets you have, you need to have a plan [...]
1. The New Elective Share. A surviving spouse of a person who dies domiciled in Florida has the right to 30% of the decedent spouse's elective estate. The elective estate includes: the decedent's probate estate, revocable trust estate, ownership interest in accounts or securities registered in "Pay On Death (POD)" "Transfer On Death (TOD)," "In Trust [...]
1. Procrastination. 2. Not creating more than a Will in your estate plan. (You don't create a Revocable Trust because you believe only people with large estate need a Trust.) 3. Holding assets jointly with children (both for children's easy access to the money and for an "inexpensive" estate plan to avoid probate.) 4. Leaving [...]
Even though the federal estate tax is affecting a smaller percentage of people every year, those with larger amounts of assets are more likely to suffer the ill effects of this particular fee. New federal estate tax rules protect individuals estates that are valued at $11.58 million or less, and couples' estates that are valued [...]
Do you think that estate planning is only for the wealthy? Think again. Almost all Florida residents could benefit from the expertise provided by an estate planning professional who can help you understand the implications of local law when it comes to your assets. No matter how many assets you have, you need to have a plan [...]
A Will is an essential part of a comprehensive estate plan because it allows you to bequeath your estate to loved ones. Unfortunately, this document alone is not always enough to protect your family and your assets: Did you know: A Will does not avoid probate. To probate a Will costs 3% to 8% of your estate, [...]
If you are one of the scores of Floridians who has put off creating your estate plan, you are not alone. In fact, scores of other baby boomers like yourself have waited to draft these important documents, sometimes with dire consequences. It is never too early to think about estate planning, which can make a noticeable [...]
If you are a Florida resident working on your estate plan, you are probably already aware that careful maneuvering may be required to avoid a massive tax burden for your heirs. It is important to remember that state and federal tax differ not only based on how much you own, but it also relates to where you [...]
Even though America is a land of economic prosperity, our aging population lags behind elders in other countries when it comes to inheritances. Most Americans intend to leave behind about $177,000 for beneficiaries and others who would inherit property; compared to several other nations, that is a pittance. In fact, Floridians might marvel at the idea [...]
Many Florida residents do not think they are old enough to worry about estate planning. Surprisingly, nearly 80 percent of aging Americans do not even consider themselves "old" until they reach age 80. Although we are living longer, more fulfilling and more exuberant lives, it is important to remember that you must have a plan [...]
An accidental loophole in American estate planning legislation could help the nation's richest citizens avoid billions of dollars in taxes. Billionaires in Florida are often required to pay outrageous 40 percent estate or gift taxes on their assets. Now, though, a newly popular type of trust is providing a critical tax shield that could have [...]
