Florida Estate Planning Lawyer Blog

April 14, 2008

Can a Personal Representative Pay the Debt on a Conveyed Home or Property?

In Florida an encumbered property shall be entitled to have the encumbrance on the property paid at the expense of the residue of the estate only when the will shows that intent. A general direction in a will to pay the debts does not show that intent Florida Probate Code Section 733.803 , Florida Statutes (2002)

In a recent case a Personal Representative tried to make the argument that since the debt was paid off a mortgage during the probate proceeding and that the above rule only applied if the debt was in place at the time of the distribution. In re Estate of Woodward (Fla. 2d DCA Apr 09, 2008)

The court said that the PR could not rewrite the decedents will and pay off the mortgage. The Florida Probate Code makes it clear that without a specific instruction in the will the property was to pass with the encumbrance.

April 12, 2008

Estate Planning for Each Stage of Life

by David M. Goldman

Neil E. Hendershot, an estate and fiduciary law attorney with Goldberg Katzman, P.C., in Harrisburg, Pa., and an adjunct professor at the Widener University School of Law posted an article by David Alexaner of the Janus Capital Group that describes what types of estate planning and adjustments are common at different ages or times of one’s life:.

Young Adult (18-30)

Middle Adult (30-45)

Pre-Retirement (45-65)

April 11, 2008

Can I Deduct my Long Term Car Insurance Premiums?

by David M. Goldman

As we get older long term care insurance premiums can become expensive. To qualify for a deduction on the insurance costs the policy must be a “qualified policy” as defined by the IRS.

A qualified policy is one issued after January 1, 1997 that adheres to certain regulations established by the National Association of Insurance Commissioners. Policies purchased before January 1, 1997 may still be treated as “qualified” if they are approved by the insurance commissioner of the state where it was sold.

If you policy is qualified then premiums are treated as un-remibursed medical expenses for income tax purposes. To qualify for the deduction of the premiums these un-reimburesed medical expenses must exceed 7.5 percent of the adjusted gross income. In determininging whether you meet the threashold you can use the lesser of the premium paid or the value. If on 12/31/2008 you are:

April 10, 2008

Divorce and Estate Planning opportunities

by David M. Goldman

Divorcing spouses can add flexibility to their tax and estate plans using property settlement agreements according to Private Letter Ruling 12572406.

Kreig Mtichell a Colorado Estate Planning Attorney wrote an article on this process. He stated that the facts involved a Husband and Wife who shiged a property settlement agreement pursuant to their divorce. The husband owned a large amount of publicly traded stock. The wife was to recieive a portion of the stock in the divorce agreement approved by the court.

Later the husband and his ex wife renegotiated the agreement to provide a larger amount of stock to the wife.

April 10, 2008

Workers Allowed to Keep Guns in Cars

by David M. Goldman

The Florida Legislature has passed a bill allowing employees to keep gun in their cars while at work. Currently employers have been able to prohibit employees from keeping guns in their cars while on company parking lots. The new bill will allow workers to leave their personal weapons in their vehicles on company owned parking lots.

April 8, 2008

Florida Pet Trusts

by David M. Goldman

Many pet owners think of their pets as part of their family. Legally pets are considered personal property like a car or jewelry.

If you are sick, injured, or unable to care for your pet and have not planned ahead, your pets may not be taken care of by the person you want. They may be managed like your other personal property.

Upon your death, your pets will pass as residual property under your will or your states intestate laws.

April 5, 2008

Louisiana NFA Gun Trust Lawyer

by David M. Goldman

Louisiana has joined the growing list of states in which we have a relationship with a lawyer who is familiar with the (NFA) National Firearms Act’s requirements relating to the formation of trusts to purchase Title II Firearms (sold by Cladd 3 SOT dealers). These include silencers, short barrel rifles, and machine guns.

If you are looking to create a Louisiana NFA Gun Trust, please Contact us and we can help make sure your trust deals with the many unique issues surrounding owning these firearms in a Revocable Trust

If you live in Louisiana or another state and wish to create a NFA trust to protect your family and purchase NFA firearms (Title II) or Title I firearms Contact a NFA Gun Trust Lawyer® in your state.

April 4, 2008

Mississippi NFA Gun Trust Lawyer®

by David M. Goldman

Mississippi has joined the growing list of states in which we have a relationship with a lawyer who is familiar with the (NFA) National Firearms Act’s requirements relating to the formation of trusts to purchase Title II Firearms (sold by Class 3 SOT dealers). These include silencers, short barrel rifles, and machine guns.

If you are looking to create a Mississippi NFA Gun Trust, please Contact us and we can help make sure your trust deals with the many unique issues surrounding owning these firearms in a Revocable Trust.

If you live in Mississippi or another state and wish to create a NFA trust to protect your family and purchase NFA or Title 1 firearms Contact a NFA lawyer in your state

April 4, 2008

Medicaid Cuts Threaten Nursing Homes in Florida

by David M. Goldman

The JC FLorida reported on recent cuts on proposed cuts in state funding.

This week both the Senate Health and Human Services Appropriations Committee and the House Health care Council introduced their 2008-09 budgets. The Senate reduced nursing home funding $163 million and the House reduced funding $278 million.

Florida legislators approved landmark elder-care facility reform legislation in 2001 that mandated increased minimum staffing requirements, tougher regulation and quality improvement, and risk management programs. Since then, nursing home quality has steadily improved. Now, Medicaid funding cuts threaten this progress and the vulnerable elderly who have nowhere else to go.

April 3, 2008

Ohio NFA Gun Trust Lawyer®

by David M. Goldman

Ohio has joined the growing list of states in which we have a relationship with a lawyer who is familiar with the (NFA) National Firearms Act’s requirements relating to the formation of trusts to purchase Title II Firearms (sold by Class 3 SOT dealers). These include silencers, short barrel rifles, and machine guns.

If you are looking to create a Ohio NFA Gun Trust, please Contact us and we can help make sure your trust deals with the many unique issues surrounding owning these firearms in a Revocable Trust

If you live in Ohio or another state and wish to create a NFA trust to protect your family and purchase NFA firearms (Title II) or Title I firearms Contact a NFA Gun Trust Lawyer® in your state.