529 accounts are good and are one of the best ways to save for a child’s education. When paying for college there are many options. Uniform Transfers to Minors Accounts; Education IRAs; Prepaid tuition plans; and 529 plans to name a few. The 529 account seems to have the best…
You can give any person $12,000 a year without any gift tax consequences. This annual gift exclusion is now indexed for inflation and be increasing periodically in $1,000 increments. If you are married, you and your spouse can each give $12,000 a year for a total of $24,000. If the…
It is important to keep your Florida Estate Planning Documents safe. In some cases if the original documents are lost, a copy is as good as the original. With the will, the original is the document that is important. Some people choose to keep originals documents at their Florida Estate…
A Florida Revocable Trust is a useful estate planning tool. They can be used for many functions including disposition of one’s assets upon death. In my practice I use Florida Revocable Trust for the purchase of Class 3 items which are controlled by the NFA, to provide for pets and…
In Florida when an individual left their Florida Will in a bank vault or safety deposit box a court order is necessary to open the box unless there is a joint owner on the account. The process involves having a judge issue an order to inspect the contents of the…
Many people feel that one of the best places to keep your estate planning documents and original Florida Will is in a safe deposit box. A bank box can protect the documents from most natural disasters. If you keep the documents in a bank you should have a joint holder…
There are many parts to a Florida Estate Planning. The Documents include Durable Powers of Attorney, Living Wills, HIPAA releases, Medical Powers of Attorney, Living and Revocable trusts and other documents depending on the particular needs of the clients. The most important thing to remember is not everyone needs a…
The Ca Estate Planning Blog has an article on how to put your bank account in your Florida Revocable Trust . It is one of the most important things that can be done after setting up your Florida Living or Revocable Trust. If you have not funded your Florida Revocable…
The Wills Trust and Estate Professors Blog commented on discounts on Family Limited Partnerships and discounts in relation to an elective share. In In re Estate of Hjersted, 175 P.3d 810 (Kan. 2008), the court held that in valuing partnership interests owned by a deceased spouse for purposes of calculating…
The Wall Street Journal online has an article on How to Ensure Relatives Don’t Rip You Off. Also the Toronto Estate Law Blog has an article today on POA abuse. The article mentions several things that can be done to safeguard clients. 1) a provision requiring regular accounting statements from…