Estate Planning
Own Property in a Foreign Country? Don’t Forget to Plan for the Disposition in Your Estate Planning Documents
I have had the good fortune to travel all over the world and love looking at the real estate deals around the world. While I only dream about owning property in another country, I know many individuals pursue their dream and own real estate in different states as well...
Implied Death of the Intentionally Defective Grantor Trust (IDGT)?
In President Obama’s 2013 budget, he proposes to include a change to the estate and gift taxation of an Intentionally Defective Grantor Trust (IDGT) created by a decedent. An IDGT is created to remove the property from a grantor’s estate for estate tax purposes...
United States Supreme Court Case Makes Landmark Decision
Oh June 26, 2015, in Obergefell v. Hodges, Director, Ohio, the United State Supreme Court held that the Fourteenth Amendment requires a state to license a marriage between two people of the same sex and to recognize a marriage between two people of the same sex when...
What’s New in 2015?
In the 2015 session, the Florida legislature passed some very important bills applicable to guardianships, health care surrogates, minors, estate planning and probate. Here are a few of those with links to the actual bills: 1. HB 5, which has been signed by the...
What Happens If A Beneficiary Does Not Claim Life Insurance Death Benefits? You May Be Surprised!
If you have a life insurance policy, then hopefully you have named a beneficiary. We often discuss the appropriateness of the beneficiary designation in the estate planning meeting. But what happens if your beneficiary does not claim the proceeds or does not know...
Really Sad Situation… More Reason to Plan
In the recent case of Wilson v. Wilson, a tragic accident and death created a dispute over the disposition of ashes of the remains of a son. A 23 year old son, single and with no children, died tragically in a automobile accident. His parents were the co-personal...
COMMUNITY PROPERTY…Helping a Client who Moves From a Community Property State Is Not as Easy as You Think…
Moving from a Community Property State to Florida…Be Sure to Review Your Estate Planning Documents… Community Property is a concept which Floridians are not well acquainted. There are 9 community property states. The concept of community property is that, during a...
Florida Enters the Digital Age with New Legislation!
All of us have digital assets and electronic communications. Our Facebook pages, the Google emails, the bitcoins, the domain names… all are new assets since the estate planning profession has been in existence. Much confusion exists as to what a fiduciary can and can...
Separate or Joint Trust.. That is the Question!
In the past, when the estate tax applicable exclusion amount (“AEA”) was $3.5 million or less, attorneys generally drafted 2 separate trusts for our married clients so that each client could take advantage of EACH of their AEA. Now that a spouse has the ability to...
Details Matter When Completing A Beneficiary Designation!
A recent federal case, originating in Florida, illustrates the importance of compliance with the EXACT requirements to designate a beneficiary for a 401(k) and ESOP plan. In Arlene Ruiz V. Publix Super Markets, Inc., a federal district court determined that an intent...