Life insurance is counted as part of your taxable estate. Many people understand that life insurance is income tax free to the beneficiaries, but the do not know that the proceeds of a life insurance policy are usually counted as part of the decedent’s estate for Federal Estate Tax purposes.…
If you are a Trustee or Guardian over property in Florida There are many things to consider when remodeling or purchasing an older home, which is common in the real estate industry. I recently became aware of problems with some homes built before 1980 because they have a strong likelihood…
a Florida Revocable Trust is a trust created during the life of an individual which can be modified, amended, or revoked at anytime during their life. Often they are used to: 1. avoid Florida Probate; 2. Keep your assets and decisions private; 3. Simplify after death distributions; 4. Increase the…
Florida Trust Litigation involves disputes between beneficiaries or potential beneficiaries of assets in ones estate or trusts (a Trust Contest). Trust litigation in Florida is most often centered around Mistakes in Execution, Undue Influence, or Lack of Capacity. If you feel that there are problems with a Florida Trust and…
While a Florida Revocable Trust can avoid the necessity for a Florida Probate to be filed, there are often circumstances that require a Probate. A Florida Revocable Trust only eliminates the need for a probate when it is funded and to the extent that your assets are inside the trust…
In Florida, a surviving spouse is usually entitled to take an elective share of their spouse’s estate. This is to prevent one spouse from disinheriting the other. Unless there is a valid Prenuptial or Post Nuptial agreement in place, the surviving spouse is entitled to take 30% of the spouses…
In Florida, the question of whether an attorney should charge fees based on the value of the home or land is a common one. The answer to this question depends on whether the Home is considered a homestead. A Florida Homestead is a constitutionally protected piece of property which is…
A GRAT or Grantor Retained Annuity Trust is an estate planning technique that minimizes the tax liability existing when transfers of estate assets occur. Under a GRAT, an irrevocable trust is created for a certain term or period of time. The individual establishing the trust pays the taxes associated with…
Florida Will Litigation involves disputes between beneficiaries or potential beneficiaries of assets in ones estate or trusts (a Will Contest). Trust litigation in Florida is most often centered around Mistakes in Execution, Undue Influence, or Lack of Capacity. If you feel that there are problems with a Florida Will and…
In Florida the personal representative is the person named in a will collect and distributed the assets of a person after death. In a Florida Probate this typically involves taking care of and real or personal property, paying legitimate outstanding bills and filing and paying taxes. Once the debts are…