Category Archives: Estate Planning
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 »
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 »
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 »
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 »
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 »