In Florida, a surviving spouse has certain protections in the event his or her spouse dies and does not leave the surviving spouse an acceptable portion of the deceased spouse’s assets. In simple terms, these protections prevent a surviving spouse from being totally...
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Month: May 2020
Dealing with digital assets in an estate plan
When creating an estate plan, people may need to address what to do with digital assets ranging from email accounts to Bitcoin balances and more. Like most states, Florida has enacted the Revised Uniform Fiduciary Access to Digital Assets Act. With this in place,...
Be Cautious When Using Joint Account Ownership and POD Designations
In our estate planning and probate practice, we often see situations where clients will add a loved-one on to their bank account as joint account owner or will make a “Pay-on-Death” (“POD”) designation. The reason for this is often either for convenience or to avoid...
Is an inheritance taxable in Florida?
In our estate planning practice, we commonly have clients ask “Will I be taxed if I receive an inheritance from a loved one?” In order to answer this question, there are a couple of things that will help you understand how taxes come into play when someone dies and...
A frank discussion can minimize the risk of probate litigation
Family relationships can be seriously damaged, sometimes permanently, in cases involving estate disputes and probate litigation. Unfortunately, there is no surefire way to guarantee the proceeds of your estate won’t be disputed after you’re gone. However, you can take...
Can Medicaid cover elder care expenses?
Caring for elderly family members can quickly become an expensive problem for modern families. Elder care can cost up to $8,000 every month, and not every senior can depend on pensions or investments to cover these expenses. How is a low-income family expected to bear...
Should I transfer my Florida homestead into my Trust?
Many Florida estate plans include setting up a revocable living trust (“Trust”). One advantage of having a Trust is that it avoids assets or property having to go through probate. In order to be effective, once the Trust is executed, certain assets need to be...
Providing for Children with Developmental Disabilities
Children with certain conditions such as autism or autism spectrum disorder (ASD) require special planning in order to provide for their needs. From a legal standpoint, there are two steps that parents should take in order to protect and to provide assistance to their...
Guardian Advocate for Adult Children with Developmental Disabilities
Children with certain conditions such as autism, autism spectrum disorder (ASD), or Down syndrome require special planning in order to meet their needs. This becomes particularly true once the child reaches the age of majority—in Florida, age 18. During the years the...
Will Your Business Die When You Die?
Small business owners face many challenges—especially in this day of COVID-19! But challenges are nothing new for these owners. Whether it is marketing, cash flow, taxes, governmental regulation, or dealing with employees, there are always obstacles and difficulties...
