Clients often ask about the differences between the estate administration process in New York and Florida. The most significant difference is that once a person is appointed Executor or Administrator of an Estate, the process is essentially over. In Florida, it is ongoing and it is necessary to take several...
Important Estate Planning Documents for Florida Snowbirds
Florida is a popular destination for snowbirds looking to escape the cold winter months. Although moving to Florida for several months of the year requires meticulous preparation, there is one important area that many snowbirds overlook: estate planning. Snowbirds have unique needs that can only be effectively addressed through the estate planning...
Medicaid Planning: The Basics
Medicaid is a federal program, administered by the states, which was initially designed to pay health care...
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What is Summary Administration in Florida?
In Florida, summary administration is an expedited probate process that does not require the appointment of a personal representative. Summary administration holds several advantages over traditional probate, which tends to be lengthy and expensive. Therefore, for qualifying estates, summary administration is generally a good option. In this article, we discuss summary administration...
How to Get Your New Business Started
So you have decided to take the leap and start your own business. It is an exciting adventure. It is important to make sure that when doing so, you take the right steps. First, you need to surround yourself with capable and responsive professionals. Of course, an accountant...
Estate Planning, Wills, and Trusts: What’s the Difference?
Estate planning is the overall process by which a person decides who will inherit his or her property upon death and who will manage his or her affairs in case of incapacitation. Although estate planning is not the same thing as a will or trust, these documents are typically part of the...
5 Reasons to Consider Updating Your Estate Plan
If you already have an estate plan in place, you are well ahead of the game. However, estate planning isn’t something you just do once and forget about. Rather, you must periodically review and update your estate plan—especially following certain major life events. In this article, we discuss five reasons you should...
Important Tips for Starting Your Own Business
Starting one's own business is an exciting endeavor. Getting off to a right start will help one to avoid some of the pitfalls typically encountered. One of the first things to do when considering starting your own business is for you to conduct research to find out what licenses you...
Advantages of Avoiding Probate in Florida
Probate is a court-supervised process by which the court, through a personal representative, identifies and gathers the assets of a deceased person (also called a decedent), pays his or her debts, and distributes his or her assets to the appropriate beneficiaries. Although probate is useful and sometimes necessary, it has several disadvantages....
Estate Planning with Time Shares
Most people are not aware that having a time share can create some estate planning issues. The main problem occurs with ones which are located out of the state where you reside, which is the norm. You may have a time share in Florida, Aruba,...