As the population of Florida continues to age and the responsibility for the care and estate planning tend to fall on that population, their children, or their grandchildren, estate planning is necessary. Dementia-causing diseases result in the patient's inability to...
Complex Legal Challenges
Estate Planning
Mistakes to avoid with beneficiary designations
Beneficiary designations may be a part of many people's Florida estate plans. Retirement accounts and life insurance policies are the assets most commonly passed using this form, and they are filled out when people set up the accounts or purchase the policy....
Electronic Wills Become Effective on July 1 in Florida
Florida’s new electronic Wills provisions become effective on July 1, 2020. This will mean that individuals who wish to sign their Will electronically can do so and the Wills will have the same force and effect as a traditional Will. To understand the importance of...
Testamentary trusts within estate planning
With increasing age, there begins a keen awareness of estate planning, especially in parts of the United States with older populations, like Florida. Estate planning helps ensure that your child is financially well-cared for after your passing. Planning is especially...
Limitations on Minor Children Inheriting Directly in Florida
Often parents and grandparents name minor children as beneficiaries under their Will or their life insurance or IRA. As a matter of law, children are allowed to inherit but how they receive that inheritance and how it is administered can pose challenges and...
Could a trust help you achieve your estate planning goals?
While most people know about the need to have a will, many are unaware of the other documents that could be part of their estate plan. Creating an estate plan as unique as your family and your goals often depends on exploring all your options, including wills and...
Cremation and Florida Estate Planning
When a person dies in Florida, a decision needs to be made whether to bury or cremate their remains. The decision is important, having both personal and financial implications. This blog will discuss some of the legal considerations that come into play when someone...
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...
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...