Are you considering becoming a Florida resident? There are many factors to consider. Most people want to give up their residency in New York and change to Florida in order to avoid income taxes and the New York State estate tax. People also make the change in order to qualify for the homestead exemption and...
Charitable Giving Through Your Estate: How Floridians Can Leave a Legacy
An estate plan can allow you to leave assets to your children, family, and friends. However, there are many other things you can do with an estate plan, including leaving assets to charity. In this article, we examine how to make charitable contributions in Florida through your estate plan.
Charitable Giving Through Your Estate: How Floridians Can Leave a Legacy
An estate plan can allow you to leave assets to your children, family, and friends. However, there are many other things you can do with an estate plan, including leave assets to charity. In this article, we examine how to make charitable contributions in Florida through your estate plan.
Estate Planning for Blended Families in Florida: Strategies for a Seamless Inheritance
Getting remarried after a divorce or the death of a prior spouse should motivate spouses to establish or revise an estate plan. However, when spouses combine their families, estate planning can come with significant personal and legal challenges. Blended families should familiarize themselves with strategies that can help make the estate...
Protecting Your Business with an Irrevocable Trust
You’ve worked hard to build your business. The last thing you want is to see it torn down piece by piece by creditors or a downturn in the market. What protections can you put in place to protect yourself and your business? You may wish to consider the benefits of an
How to Devise Homestead Property in Florida
If one owns property in Florida as homestead property, the property automatically passes to one's heirs at death. That sounds great and easy, but the reality is that as an owner of the property, you may not want your property to pass to all of your next of kin, in equal...
How to Gift Assets to Qualify for Medicaid
Are you thinking about your future and concerned about meeting the means requirements to qualify for Medicaid benefits? If so, you might be able to gift certain assets to get beneath the threshold. Here’s what you need to know about gifting assets to qualify for Medicaid.
Understanding...Intestacy: What Happens When One Dies Without a Will
When someone dies without a will, the assets owned by that person do not pass to the State. Rather, the laws of the State where one resides determine who the assets are distributed to. Generally speaking, the people who inherit are...
Is Probate Still Required if There is a Surviving Spouse?
The determination of certain property rights is an important issue following the death of a spouse. Fortunately, in Florida, surviving spouses have many property rights. For example, pursuant to the Florida probate code, a surviving spouse may be entitled to some or all of a deceased spouse’s estate, including:
Addressing Substance Abuse in an Estate Plan
Estate planning is a great way to ensure that your beneficiaries are cared for after you are gone. However, some loved ones may not be in a position to responsibly handle a large inheritance—particularly those loved ones who struggle with substance abuse problems. Fortunately, there are estate planning options available for families...