When someone dies in Florida, any property they own may require probate proceedings. Physical assets and financial resources that belong to an individual become their estate after their passing. An estate also typically has financial responsibility for any debts and...
Estate Planning And Elder Law Services In Orlando And Beyond
Year: 2024
Is a trust or lady bird deed better for bypassing probate?
People creating or updating estate plans often focus on vulnerable family members and high-value assets. The oversight of probate are in place to protect assets, but many people prefer to keep their most valuable property out of probate court whenever possible due to...
Addressing tax issues when leaving assets to children
Parents often hope that their estates provide financial support for their children after they die. It is common practice for parents to name their children as the primary beneficiaries of their estates. However, particularly if testators have relatively valuable...
Preserving assets for college with an estate planning 529 plan
One of the main objectives of many testators who are putting together an estate plan is to provide resources for their loved ones. People with well-paid jobs or substantial personal property may want to help their children or grandchildren achieve similar levels of...
What to expect when your parents die with no will in Florida
Losing a parent is an emotionally wrenching experience. When compounded by the absence of a will, the legal and financial burden can feel overwhelming. When someone dies without a will, Florida's intestacy laws dictate how their assets are distributed. These laws...
Ways to avoid paying capital gains tax on inherited property
An inheritance is meant to help provide you with a bit of a boost from a loved one who has passed away. While this scenario is usually beneficial, there are times when an inheritance might be more of a hassle than you expected. For example, this is sometimes the case...
Avoid these mistakes when making your digital estate plan
Digital estate planning is rapidly gaining traction as an indispensable way to ensure that one’s digital assets and online presence are managed and distributed according to one’s wishes after their passing. When preparing your digital estate plan, you’ll want to do...
Can it be too late for estate planning?
Many people procrastinate estate planning. In some cases, that’s because they think that it’s just too early to make a plan. For instance, when you look at the reasons why the majority of Americans do not have an estate plan, some will say that they are not old...
Where should you store your will?
After drafting your will and other crucial documents, you need to find a reliable place to keep them. It's vital to choose a safe location that your executor can easily access. Here are five locations to consider: With your attorney Some people keep their wills in...
4 parts of an estate plan
A will allows a person to draft their last wishes in anticipation of their passing. Many people believe that an estate plan begins and ends by making a will. While a will is the most common document, there’s a lot more that can be added to an estate plan. People can...