Clearwater, Florida Estate Planning Blog
Do you really need an estate plan?
Planning for the future can be a difficult and complex task. Many people avoid it simply because they do not want to consider what will happen after they pass away. While considering your own mortality can be a difficult thing to address, it is in your interests and...
Exemption of IRAs from Creditors Means EXEMPT… or Does It?
Araguel v. Bryan illustrates the intersection of guardianship law, individual retirement accounts ("IRAs") and payment of guardianship expenses from the incapacitated individual's (the "ward") IRA after the ward's death. In October of 2019, Patrick and Leslie,...
Good News for Procrastinators Making the Portability Election
In 2010 Congress enacted legislation which provides for the portability of a decedent's spouse unused exclusion amount ("DSUEA). For example, if Bob dies with 12 million in unused exclusion amount (equivalent to 4.8 million in estate tax savings), his surviving spouse...
It can harm your family if you die without a will
There are many reasons why you may be reluctant to begin the estate planning process. You may not want to consider your own mortality, or you may not believe that you have enough wealth to justify the effort. In reality, estate planning is beneficial for everyone,...
Have you made mistakes with your estate plan?
Planning for the future can be an emotionally challenging process as it requires one to consider his or her own mortality and what will happen to personal property after passing. When you created your estate plan, you likely make your decisions based on what seemed...
The Florida Homestead Chameleon Strikes Again
As many know, Florida homestead is a difficult concept as there are several aspects of Florida homestead... creditor protection, tax exemptions, save our home cap, and restrictions on devise if survived by a spouse and/or minor children. In the recent case of Feldman...
You can control your future medical care
One of the most vital concerns many have about the future is what will happen with their medical care in case of an emergency or in their advanced age. You may have specific needs and objectives for your personal care in case of a serious medical need, and thankfully,...
It’s never too early to plan for the future
Planning for the future can be a daunting prospect for those in their 20s and 30s. Younger adults may not see the need to consider their long-term legal and financial needs because they are healthy and likely have not yet built substantial estates. While estate...
Which type of trust will be the best addition to your estate plan?
Planning for the future can be a difficult process as it will require you to plan for contingencies and consider what you want to happen in the event of your death. These are not easy things to navigate, but you understand how important it is to take steps to protect...
Do the Relatives of Your Ex-Spouse Inherit Under Your Will and Trust?
A recent Minnesota appellate court decided whether relatives of an ex-spouse inherits. Minnesota law is similar to Florida law and this case illustrates the importance of reviewing your documents after a divorce to be sure they reflect your intent. In Matter of the...