Month: December 2019
End of Year Thoughts
At year-end we often think about what is important to us.. family and friends. First I want to thank each and every one of you for either being a client, personal friend, professional friend or family. I love helping people and if this blog has helped one person I...
Happy Holidays!…. Extender Package Passed!
As discussed in my blog on December 11, 2014… the extender package has been signed by President Obama. ADVICE: Carefully review this signed extender bill, contact your CPA immediately to see if you can use any applicable provisions prior to year end to reduce your...
Making a Difference for the animals
As many of you know, Linda Griffin is a dedicated volunteer at the Clearwater Marine Aquarium. Linda enjoys interacting with the dolphins and is part of the dive and stranding teams. Tampa Bay 10 News interviewed Linda about her volunteer work. To see the full...
New Tax Law Coming…Is It A Christmas Present or a Sack of Coal?
The legislature is busy during these holidays. The House and Senate Conference Committee released its report and legislative text on December 15, 2017, the Tax Cuts and Jobs Act of 2017 (“TCJA”). The law is expected to be signed by the President by Christmas Day. The...
What IS a Trust Protector? Do you Need One?
Under Section 736.808(3) of the Florida Trust Code, the terms of a trust may give another person (other than the trustee) a power to direct the modification of a trust. We often call this person a “trust protector” or a “trust adviser”. This person has the ability to...
IRA Late Rollovers… Are They All Treated the Same?
Section 408(d)(3)(A) of the Internal Revenue Code (the”Code”) provides that you may take a distribution from your individual retirement account (“IRA”) without paying tax IF you roll over the same amount to the IRA within 60 days of the withdrawal. Further, you can...
Small Bank Accounts… Easier Way to Probate?
An interesting topic arose at the last meeting of the Florida Bar Real Property, Probate & Trust Law Section (“RPPTL”). Bankers have proposed legislation which may make it easier to distribute certain accounts held by a decedent at a financial institution. The...
Assets in a Discretionary Trust- Protected or Not? That is the question!
Assume you have a “wayward” child, Sam and you want to create a trust for him so that after your death you can be certain that no matter what he does i.e., , marry a gold digger, go off on a drug tangent, etc, etc… you get the picture, he will have money to live. You...
Change in Taxes With Trump Presidency?
Now that Trump will become President and the Republican Party is now in control of both Houses in Congress, you can be sure that changes are coming. A few provisions of Trump’s tax plan follow: Married joint filers: less than $75,000- 12%, $75,000-$225,000- 25%, above...
Yahoo Does Not Say Yahoo After This Case….
In a case which has been litigated since 2010, a Massachusetts Supreme Court has determined that a personal representative has the right to obtain information from a decedent’s Yahoo account. In Ajemian v. Yahoo, Inc. Mr. Ajemian passed away but had no testamentary...