Month: April 2020
Every Word Counts…Be Careful How You Draft…
In drafting a document it is important to mean what you write and write what you mean. A recent case, Sibley v. Estate of Sibley illustrates what happens when the term “in existence” is not specifically defined in the document. In Sibley, Curtiss Sibley (“Curtiss”)...
Electronic Wills? The Future of Will Drafting in Florida?
Until a recent Florida Real Property, Probate and Trust Law (“RPPTL”) meeting, this author had never heard of an electronic will statute. An organization, independent of RPPTL and the Florida Bar, proposed a bill in the legislature, (the “Act”) with the help of...
URGENT… Plan for Using Estate and Gift Tax Exemption in 2012
As many of you already know 2013 is going to be a year of change in the tax world… Until December 31, 2012 you can make tax free gifts of up to 5,120,000 but on January 1, 2013 tax free gifts will be limited to 1,000,000. That is HUGE. If your estate is well under...
Did You Remember to Take Care of Fido or Mimi?
Pets are our family and, for some of us, our only family. Yet, do we always remember to provide for them if we become incapacitated or die? Unfortunately, many people forget to specifically plan for their pets and when problems arise about taking care of the pets,...
WIN-WIN PLAN FOR CHARITIES AND TAXPAYERS IN 2019
In 2019, the Tax Cuts and Jobs Act provides a new standard deduction which has doubled from $12,700 for a married couple in 2017 to $24,400 in 2019. Thus, most taxpayers will not itemize their deductions and will, instead take the standard deduction. As charitable...
U.S. Supreme Court to Decide Revocation on Divorce Statute Case- Impact on Florida?
In March, 2018, oral arguments were heard by the U.S. Supreme Court regarding the constitutionality of the Minnesota statute addressing the revocation of beneficiary designation upon divorce. The ultimate decision will affect the interpretation of the Florida statute...
If you thought your ERISA retirement plan was safe in Bankruptcy from the IRS think again!
A recent unpublished California case, Stuart A. Gross v. Commissioner of Internal Revenue, (CA 9 2/25/2014) AFTR 2d 2014-529, addresses the exemption versus the exclusion of an ERISA plan (basically a retirement plan such as a 401(k) or defined contribution plan, the...
Confused about the Payroll Protection Program and the SBA Loans… You are NOT Alone!…
Confused about the Payroll Protection Program and the SBA Loans… You are NOT Alone!… The Coronavirus Aid, Relief, and Economic Security Act or the CARES Act (the “Act”) , previously discussed in this blog provides for the Payroll Protection Program (“PPP”) as well as...
Advanced Directives vs. Guardianship… Which One Applies?
Most of my clients will do anything to avoid a guardianship court proceeding. Thus, we prepare advanced directives such as a durable power of attorney, designation of health care surrogate and a living will (“Advanced Directives”) which appoint people to act on the...
CARES Act Signed into Law on March 27, 2020
CARES Act Signed into Law on March 27, 2020 The Coronavirus Aid, Relief, and Economic Security Act or the CARES Act (the “Act”) was signed into law on Friday, March 27, 2020. The highlights of the Act are as follows: Waiver of the early 10% penalty for early...