Currently Browsing:Estate Planning

Happy Valentine’s Day!

Before you pop the question, make sure you have considered all of the ramifications of marriage on your estate planning.  For example, you and your sweetheart have children from previous marriages.  You own a house in Florida and your sweetheart owns a house in New England.  You both are residents of Florida because there is

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Will My In-laws Inherit My Money if My Children Predecease Me?

A common misconception is that when you die, your daughter-in-law or son-in-law has the potential to claim a portion of your estate.  The laws of inheritance in most states do not place in-laws in the category as statutory heirs or descendants.  Descendants will, in most cases, include adopted children, but you didn’t adopt your in-laws

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Incapacity – Should You Make It Easy to Declare You Incompetent?

Recently, I have been talking a lot to my clients about whether it should be easy to declare someone incapacitated or hard. Where this comes into play is when you have a Revocable Trust and you are Trustee. If and when you become incapacitated (unable to handle the day-to-day paying of your bills, etc.) your

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Does the Discomfort of Discussing Your Death Keep You From Planning Your Estate?

Some of us have no trouble talking about death and others of us are a bit more squeamish. A friend of mine told me his wife wouldn’t make a Will because she is convinced that if she does, it means she will die. To me that seems silly and superstitious…but hey, the bottom line is

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Special People Need Special Consideration

You may have someone in your life that is struggling with a disability. You want to be helpful and even generous. They could use your financial help, right? WAIT! If your someone is receiving Medicaid or other government benefits, helping them out may do more harm than good. Helping them out financially may cut their

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Newly Married?

Two souls have become one. But your estates are still “his” and “hers” unless you update your estate plan. While the State of Florida recognizes that even without a Will your spouse is entitled to a portion of your estate upon your passing, this “portion” may not be what you want your beloved to have.

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Small Business Succession Planning

In some ways, this business is your baby! You have watched it be born, nurtured it through the scrapes and bruises, educated and enlightened it, and helped it mature into something you are really proud of. But just like your human babies, your business needs to become independent from you so that when you no

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There Are Only Two Things That Are Certain: Death And Taxes.

“In This World, Nothing Can Be Said To Be Certain, Except Death and Taxes” – Ben Franklin But short term, we are much more likely to become incapacitated than to die. So what does it mean to be incapacitated? It means that we can not make our own financial or health-related decisions. This may be

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Some New Thoughts About Pet Trusts

Earlier, I wrote about the importance of setting up a Pet Trust to take care of your pets after you pass, but what happens to those very same pets if you become incapacitated? If your Pet Trust is one that is established via your Will, it won’t be set up and funded until after you

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