Articles Posted in Estate Planning

by

It has been widely reported that the extension of the Bush Tax Cuts is being recommended by Obama in addition to agreeing to a new estate tax of 35% on assets in excess of 5 Million dollars but no one is reporting on what will happen with the loss of stepped up basis. For many Americans the loss of stepped up basis could cost more than if there was a lower estate tax exemption.

The bill is reported to be submitted to congress today so we should know soon what we are dealing with. Either way it will cause many American families to have to revisit their estate planning and life insurance needs over the next few months.

by

digital_assets.jpgA new law in Oklahoma appears to let estate executors have the power to access, administer, or terminate online social media accounts of the deceased. This law is in direct contradiction to the licensing arrangements of most online accounts and it has yet to be seen how and if the law will provide rights to estates.

The law should remind the people as they go about their estate planning that, in addition to their personal and real property, they should make plans for the vast amount of intellectual property they will leave behind.

As digital photo accounts, iTunes accounts, cell phone applications, and email accounts replace their traditional counterparts with many people, it is becoming more important than ever to address these assets in every estate plan.

Continue reading

by

Most Florida Estate Planning Lawyer deal with planning for the unexpected and protecting your assets for those after we are gone. Part of this protection and planning often involves the use of the Florida Homestead. The Homestead Exemption is not exclusive to Florida. A recent case, a New York Representative is accused of claiming a Homestead exemption for a home located in Washington, D.C.

The homestead exemption varies from location to location, but it generally applies to one’s primary home. Recently government officials have noted that even though this exemption was established in the late 1800s, still only few today take advantage of it.

Tax officials in several locations around the country, including Florida, have begun to crackdown on the number fraudulent claims that are being reported every year. The New York Times reported that Jennifer Frastai, City manager of Hallandale Florida, has begun an intensive effort to stop fraudulent homestead claims.

Continue reading

by

The recent court decision which removed the charging order protection for single member LLC’s has raised concern over whether a multi member LLC has charging order protection.

In addition, a member in Florida is defined as one who has an an economic interest in a Florida LLC as well as one who has been admitted as a member. In the case of bankruptcy, one may no longer be considered a “member” as defined in Florida law.

Many Florida lawyers are advising those who have single or multi member LLC’s in Florida to switch them to LLC’s in other states or change them to Florida Limited Liability Partnerships. Please note that just changing to a FLLP or FLLLP is not enough, one must have a special operating agreement which sets fourth obligations that will make it an executory contract in the case of bankruptcy.

Continue reading

by

Forbes has an article about contemplation of death in 2010 to avoid estate taxes. As 2010 comes to an end, there may not be time for many to make the decision. The article quotes Rep. Cynthia Lummis in saying that some of her Wyoming constituents are planning to discontinue dialysis and other life-extending treatments so they can die before December 31st.

In many cases, the stories of this seem to be overblown as many can have the same results with good estate planning. To discuss your options contact a Jacksonville Estate Planning Lawyer.

by

The Bush tax cuts are set to expire on 12/31/2010. Many feel the the first face-off between Republicans and Democrats could be over the estate tax and income tax issues. If nothing is done we will see significantly higher estate taxes and income taxes in 2011.

To plan for these higher estate taxes and see hot to reduce the effects of a Florida Probate contact a Jacksonville Estate Planning Lawyer to discuss how planning can give your family advantages over the typical Florida Probate process.

by

grapes.jpgThe Napa Valley Register has a story of how a family vineyard was hurt by not planning properly for estate and death taxes. While this has not been a major concern this year with few states having death taxes and none at the federal level, this is about to change January 1st unless there is a legislative change. The federal estate taxes are set to resume January 1, 2011 with rates as high as 55% on estates in excess of 1 million dollars.

It is important to plan for estate taxes and have the liquidity necessary to pay them or your family business could be devastated and forced to liquidate to pay the IRS. To discuss how you can plan for the higher estate taxes contact a Florida Estate Planning Lawyer to discuss your options.

by

Ashlea Ebeling with Forbes is reporting that next years estate taxes could be as high as 60% for some. This title is misleading because the maximum estate tax will be 55%. She gets 60 percent by adding the max rate of 55% plus the 5% surcharge for assets between 10 million and 17.184 million dollars. This surcharge only makes the overall rate closer to 55% and the full 55% rate is not achieved until the estate is in excess of the $17.184.
So while there is a 60% estate tax, it is only a marginal tax rate and the rate is never higher than 55%.

Please do not think I am ok with a 55% tax rate, but I did want to clarify the issue. If your estate is greater than 1 Million dollars, you should consider meeting with a Jacksonville Estate Planning Lawyer to discuss ways you can increase your exemptions or hedge against the taxes that would be due upon your death.

by

Estate Planning Procedure

We make it easy and affordable to obtain professional legal advice by offering complimentary consultations for your Florida estate planning needs with a Jacksonville Estate Planning Attorney. Once you’ve decided to implement your Florida estate plan, your documents will often be ready in less than two weeks.

STEP 1: FILL OUT THE CONFIDENTIAL PERSONAL INFORMATION FORM

Continue reading
Contact Information
Jacksonville Office
4115 Hendricks Ave
Jacksonville, FL 32207
Phone: (904) 685-1200
Fax: (904) 875-4081
Ponte Vedra Beach Office
822 A1A N #310
Ponte Vedra Beach, FL 32082
Phone: (904) 425-1910
Fax: (904) 875-4081
Satellite office with limited services and hours.
Call for an appointment.
*The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. The information on this website is not intended to establish an attorney-client relationship, are not confidential, and are not intended to constitute legal advice. Proper legal advice can only be given by an attorney who agrees to represent you, who reviews the facts of your specific case, who does not have a conflict of interest preventing the representation, and who is licensed as an attorney in the state where the law applies. Some states require additional disclosures which may consider the information on this website to be consider advertising and others states require that this page state ATTORNEY ADVERTISING or THIS IS AN ADVERTISEMENT.

David Goldman is licensed to practice law in Florida and Texas.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2026, Law Office of David M. Goldman PLLC
JUSTIA Law Firm Blog Design