Author Archives: Jay Butchko
COVID-19: How to Talk to Your Parents & Grandparents About Estate Planning
The COVID-19 pandemic reminded many Americans that life is unpredictable. As evident from recent reports in the surge of the demand for Wills, the coronavirus pandemic has many Americans wondering if their families will be ready upon their death. While an increasing number of Americans move to secure their future, many are still refusing… Read More »
Preparing for Coronavirus: Your #1 Legal Document
As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In fact, now is a great time to be proactive and plan ahead before your or another family member falls ill. One of the most important things you should do… Read More »
Intentionally Defective Grantor Trust (IDGT): What is It and What Are the Benefits?
Despite its no-so-appealing name, an intentionally defective grantor trust (IDGT) can prove to be a valuable estate planning tool for tax purposes. As an increasing number of Floridians incorporate IDGTs into their estate plans, this tool is not “defective” at all. On the contrary, it offers many benefits and can be effective for estate… Read More »
Coronavirus (COVID-19): Estate Planning During the Pandemic
The death toll from the COVID-disease topped over 15,000 globally, including over 400 deaths in the U.S. As of March 22, 2020, there were more than 32,000 confirmed cases of the virus in all states across the nation. The coronavirus has disrupted our daily lives, halted business operations, and clogged the arteries of global… Read More »
Irrevocable Life Insurance Trust (ILIT): What is It and What Are the Benefits?
When preparing an estate plan, many Floridians wonder whether it makes sense to create an Irrevocable Life Insurance Trust (ILIT). You need to understand what an ILIT is in order to know whether it is worth creating one. While an ILIT can be a critical trust planning tool, creating an Irrevocable Life Insurance Trust… Read More »
What Happens to Gifts if Beneficiaries Pass Away Before the Testator?
The anti-lapse statute is a Florida law designed to address the lack of contingency planning in Wills. What happens to a gift left for a beneficiary in your will if that person predeceases you? How does Florida’s anti-lapse statute handle the gifts left for beneficiaries who have passed away? What Happens to Gifts if… Read More »
Debunking 4 Common Estate Planning Myths in Florida
Are you aware of the estate planning myths prevalent in Florida? There are plenty of misconceptions surrounding estate planning and we are here to set the record straight. Avoiding these misconceptions is simple if you have the knowledge available. In the meantime, let’s address widespread myths surrounding estate planning in the Sunshine State. Myth… Read More »
5 Reasons Why You Need a Probate Lawyer in Florida
Probate is the court-supervised process by which a decedent’s estate is administered to transfer title to property. Many families are often overwhelmed by the tasks that need to be completed after someone dies. However, some take the risk of doing everything themselves, which can often lead to more issues down the road. For this… Read More »
Will Contests in Florida? Grounds, Legal Procedure, and Possible Outcomes
One cannot challenge or contest a Will simply because they do not like its contents. A Will is a legal document that specifies a deceased individual’s testamentary wishes outlining who should inherit his or her property after death. If someone would like to contest a decedent’s Will, you should speak to an experienced trusts… Read More »
How to Incorporate Your Business into Your Estate Plan if You’re a Small Business Owner
Do you have a plan in place for your business after you die? Do you know what’s going to happen to your business if you do not plan properly? Your planning now will dictate whether or not your company will continue to thrive after your gone. If you do not incorporate your business into… Read More »