Clearwater, Florida Estate Planning Blog
Adult children should discuss estate plans with aging parents
Discussing post-death matters and potential medical needs can be a difficult conversation to have with your parents. While it can be uncomfortable to discuss what will happen if your parents pass away or become incapacitated at some point, it is a necessary...
Which types of advance directives should be in your estate plan?
One of your main goals for your estate planning strategy is to care for and support your loved ones in the future. Through the distribution of assets and careful planning, you can provide for them and leave a legacy that will benefit the generations that come after...
LLC Operating Agreement vs. Will…Which Controls as to Disposition of Property?
The court determined in Tita v. Tita, that a specific bequest in a will overrides language in a limited liability company operating agreement. See a discussion on this matter in another case in a prior blog here. John Tita ("Decedent") signed his Last Will and...
NEW IRA Proposed Regulations…Timing of Distributions over 10 Years is NOT what Most Practitioners Believed!
The recent proposed regulations ("regulations") of the SECURE Act issued on February 23, 2022 surprised the tax community with rules regarding the 10 year distribution rule for beneficiaries, pleased the tax community by providing examples for determining whether...
Protecting your financial interests in case of incapacitation
One of the primary benefits of planning for the future is taking steps that will allow you to decide what will happen to your money and assets in the future. Through a will and other estate planning tools, you can have a measure of control over the distribution of...
What should you expect from the probate process?
After the passing of a loved one, you may have the responsibility of settling his or her estate. There is typically much more involved with this process than simply distributing assets according to the terms of the will. In many cases, many or all estate assets will...
Settlement in Probate Proceeding? Magic Language Should be in the Order!
In a probate proceeding, the personal representative and beneficiaries may have a dispute and reach a settlement agreement to resolve the controversy. The terms of the settlement agreement must be drafted carefully and referenced in the order approving the settlement...
What should be in your will?
A will is the basic building block for any complete estate plan. It provides you with the opportunity to outline what you want to happen to your money and property after your passing. In addition to the distribution of estate assets, a will can contain terms that will...
Homestead… Red, Yellow or Green?
The concept of Florida homestead is one of the most difficult, if not one of the most important concepts to understand in estate planning. It has been called the legal chameleon because of the changing definitions of homestead depending on the context you are using...
Should I have a living will?
If you think of an estate plan as a tool merely for distributing your assets after your death, you are missing some very important elements that may also benefit you while you are still living. One of those elements is a living will. A living will is a kind of advance...