According to the U.S. Department of Labor’s Bureau of Labor Statistics, there are more than 31 million people currently unemployed — that’s including those involuntarily working part-time and those who want a job, but have given up on trying to find one.
David Goldman of Law Office of David M. Goldman PLLC, Florida Estate Planning Lawyer Blog, and NFA Gun Trust Lawyer Blog became a member of the Estate Planning Professionals network (EPPN) of the NRA. The next EPPN event will be held in conjunction with the NRA Annual Meeting in Charlotte, North Carolina in May 2010.
As a member of the EPPN, David can modify wills and trusts with language that can be added to Florida Wills and Trusts to make bequests to the national Rifle Association or any of the NRA charities or endowments.
Jacksonville Divorce Lawyer: What does Florida Divorce Law have to do with Florida Estate Planning? We often find that Estate planning is needed most around the time of a Divorce in Florida. We now have a Jacksonville Divorce Lawyer on staff to help deal with the unique issues of Jacksonville Child Support, Jacksonville Child Custody, and Jacksonville Family law.
These issues often arise around the time of Florida Estate Planning or in conjunction with a Florida Probate.
If you have questions concerning Florida Estate Planning contact one of our Florida Estate Planning Lawyer or Jacksonville Divorce Lawyer to discuss your situation.
The IRS recently announced that the gift tax annual exclusion will remain unchanged in 2010 at $13,000
The yearly amount of the exclusion is based on the Consumer Price Index and has increased from $10,000 in 1997 to $13,000 in 2009 and 2010. As long as your gifts to an individual are less than the exclusion amount, there is no gift tax return that is required to be filed and no gift taxes are due. Each spouse gets an exclusion so a married couple can actually gift $26000 to each individual without creating a tax liability or necessity for reporting.
With proper gift planning a family can transfer a significant amount of money to their children and grandchildren. Take a family who has 3 kids, each married and each with 2 grandchildren.
Florida Revocable Trust’s as well as those created in other states often have language that provides for the health, education, maintenance, and support of our spouses and children. Recently I was reading an article written by a CA Estate Planning Lawyer and firearms instructor on providing firearms training as an option within the definition of education. David R. Duringer wrote an article entitled Does the Definition of Education in Your Revocable Trust Allow for Firearms Training? and while it is a short article and only deals with firearms education, it got me thinking about other types of education and training that may be important to your beneficiaries or family tradition that you may want to include in your traditional revocable trust. Obviously this is something that would make sense to provide for in a NFA Gun Trust or a firearms trust designed specifically for firearms. In David’s article he goes on to state
Such training can provide your children with the comfort of skill at arms so they can protect themselves and their own children, and furthermore, passes on American values necessary to preserve political independence of families in our society. Other benefits of such training can include increased personal responsibility and lower juvenile delinquency rates.
You may even want to go further with an incentive trust provision actually requiring this training, possibly with achievement standards.
Whether your passion is firearms, golf, tennis, a musical instrument, or anything else its important to discuss this with your Florida Estate Planning Lawyer to draft documents that reflect your goals and help achieve your families desires.
Yesterday, the House of Representatives voted 225-200 in favor of H.R. 4154. The bill will make the 2009 Estate Tax Level Permanent.
Currently (for 2009) the estate tax exemption is $3.5 million and the maximum tax rate on estates is 45%. The Bill referred to as the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009, would permanently extend this estate tax exemption amount and tax rate.
The Bill still needs the Senate and President’s approval.
Most people would not believe that a family pet needs to be subjected to the Florida Probate process, but Florida Law defines animals as personal property and as such are subject to probate just like other personal property. Fortunately we can create provisions in our Florida Revocable Trust to deal with our animals or at least to own them so that they are not subjected to probate. If you want to provide for more than an easy transfer of the ownership of the animals, you might consider pet trust provisions to allow for the care of the animal in the event they survive you.
Next time you talk with your Florida Estate Planning Lawyer ask them about your pet and how they will be dealt with if you were to die.
Canadian-based TV production company – CMJ PRODUCTIONS – is currently shooting a new documentary series called, ‘The Will’ airing on INVESTIGATION DISCOVERY.
“The Will” tells the true life stories of complex and surprising disputes that have arisen surrounding a will, estate or trust.
The series is now accepting story submissions to appear on-air. They are looking for dramatic, unusual stories with numerous twists and turns, secrets and real emotion. Most importantly, all cases must have reached a final ruling or settlement in order to be considered. The company wants to interview all parties involved as well as their legal representatives.
One of the benefits of using a Florida Revocable Trust is that the contents of the trust can remain private. Remember that if you or your heirs provide copies to others you may loose this advantage. This is exactly what happened with Farrah Fawcett’s Revocable Trust. RadarOnline.com obtained a copy of Farrah Fawcett’s Living trust and has posted it.
a) All art work has been left to the University of Texas at Austin.
b) All other personal items have been left to her nephew, Greg Walls.
Will Contest Clauses are generally included to prevent children or beneficiaries from attempting to dispute their portion of an estate. In some states they are valid and many others like Florida they are not valid by statute.
Given that a No Contest Clause in a Will is invalid in a Florida Probate case, should they be used in Florida? If your will is contested and the end result under the state statute may be the same, it may provide any benefit to include the no contest language.
Today people move quite often and may have assets in other states that do recognize Will Contest clauses. Given that one of these situations may enable a no contest clause to be enforced, it might be a good idea to include them in your Florida Estate Planning Documents.
Florida Estate Planning Lawyer Blog