Author Archives: Jay Butchko
How Does the SECURE Act 2020 Affect Your Estate Planning?
The federal SECURE act became effective on January 1, 2020, which affects many people who have already established their estate plans. “SECURE” stands for Setting Every Community Up for Retirement Enhancement. The 2020 law implements new rules regarding the inheritance and distribution of retirement accounts to beneficiaries named under the plan or in estate… Read More »
Is It Possible to Probate a Copy of the Lost Will in Florida?
A Last Will and Testament (“Will”) is a legal document that outlines a person’s wishes regarding the disposition of his or her property at the time of death. When clients take possession of their original Will after signing, it is not uncommon if the testator (the creator of the Will) loses the original Will,… Read More »
What to Consider When Buying a Business in Florida: Due Diligence and Risk-Free Examination
Starting a new business can be a risky and financially overwhelming endeavor. Statistically speaking, more than 50% of new businesses fail during the first five years. Nearly 70% of new business startups in the U.S. ultimately fail during the first 10 years. There are various reasons why new businesses fail. Lack of monetary resources,… Read More »
How and Why to Disinherit a Family Member in your Estate Plans
For many reasons, an individual may need to disinherit a family member in their estate plans. This could be for tax purposes, creditor protection, or you want to specifically exclude someone form inheriting your wealth. If you are considering disinheriting a family member, then there are several things you should know. If you die… Read More »
How a Premarital Agreement (Prenup) Can Be a Powerful Estate Planning Tool
Many people tend to think that prenuptial – or premarital – agreements are used solely to protect assets in a divorce. However, a prenuptial agreement can also serve as a powerful tool in estate planning. Why Do You Need a Prenuptial Agreement As Part of Your Estate Plans? One of the key reasons why… Read More »
Asset Protection Planning Strategies in Florida to Shield Your Assets from Future Creditors
Florida citizens are becoming increasingly curious and proactive about asset protection planning. Our St. Petersburg asset protection lawyers are often asked about how to protect assets from lawsuits and other creditors, and whether there is anything you can do to protect your assets in the event you are sued. Who Can Benefit from Asset… Read More »
What if You Die Without a Will in Florida? Who Inherits Your Property?
How your family will inherit property after you die without a will depends on your state’s intestacy laws. Unless you have an estate plan where you choose your beneficiaries to avoid Florida’s intestacy laws, your property will be passed to your heirs in two different ways: Outside of probate (by operation of law or… Read More »
4 Key Reasons to Update Your Estate Planning Documents During or After a Divorce
Commonly in estate plans for married couples, the spouse is named as a beneficiary and as a decision-maker in the event of disability. The spouse is named to make healthcare, legal, and financial decisions as well as control the assets of any minor or special needs children. However, when a married couple files for… Read More »
Do Not Forget About Your Digital Assets in your Estate Plans
You have more digital assets than you realize. In fact, you may be reading this article right now from a device that stores many of your digital assets. But what happens to those assets after you die? In other words, can your digital assets be included in your estate planning documents? After all, if… Read More »
Who Can Benefit from Healthcare Advance Directives in their Estate Plans?
Advance directives can be a vital part of your estate plan, but certain people can benefit more so than others. If you live in Florida and are updating or establishing your estate plans, you may have thought about including documents such as a living will or healthcare surrogate. Any individual who wants to identify… Read More »