Tax law changes, births, deaths and other significant life changes may call for the revision of the best laid plans. That's why, no matter the hype surrounding current tax laws changes, it is always a good idea to revisit one's estate planning to ensure that the plan...
Year: 2018
Estate planning tips: organize and streamline
No one wants to feel like they inherited a mess. Whether physical or financial, the mess can be daunting to a person who is sorting through it while grieving. An individual who wishes to offer a cleaned-up, easy-to-sort-through estate to their heirs may benefit from...
Keeping trust documents updated can prevent frustration
Imagine the frustration that can come with not being able to locate an important legal document when it is needed. Amplify that frustration when the document is found, but is either out of date, incorrect or an unauthorized copy. Estate blunders such as these can...
Planning for long-term care needs
Looking ahead to retirement, many individuals know that they will need a plan for financing their costs of living and the eventual distribution of their assets upon their death. Unfortunately, sometimes the costs of long-term care is overlooked when people assume...
Avoid this mistake for easier trust administration
An estate plan can be a useful tool for the person who wants to protect assets and ensure a smoother transition. As part of an estate plan, many Florida residents elect to create a revocable living trust to house their assets. Unfortunately, after setting up the...
Funding a trust now can help with trust administration later
A new car without fuel might be considered useless. Similarly, a trust that hasn't been properly funded won't be of much use and can be a headache for the individual charged with trust administration. It can be easy and relatively inexpensive to create a trust, but...
Tips for reducing your estate tax liability
Estate taxes are on the minds of many who have collected assets throughout the years. While many people may not hit the exemption levels for taxation, it can be surprising how much an estate is worth. In 2017, $5.49 million worth of assets could be protected against...
Estate planning can include power of attorney guidance
Throughout their lives, many individuals will sign various types of legal documents. One of these legal designations that may become an important part of estate planning is the power of attorney. There are two main types of powers of attorney -- financial and medical....
Include digital assets in estate administration instructions
The volume and numbers of data accumulated by the average human being has increased exponentially in just the last decade. The previous ten years or so has brought the iPhone, Facebook, Gmail and a host of other digital and social media accounts. For individuals...
A special needs trust can provide for a disabled child
Many Americans are born with disabilities every year. Parents typically love to dote on their children and ensure that their special needs are met. Ultimately, however, the time may come that the parent isn't able to care for the child, or the parent passes away,...