What You Need to Know About Living Trusts and Taxes

A living trust is created and financed by an individual during their lifetime. There are two kinds of living trusts to be familiar with, revocable and irrevocable. Each trust has distinct features that benefit the grantor uniquely. Many people choose to design living trusts because they help avoid probate court. Although the tax benefits of…

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What Are the Six Essential Documents for a Good Estate Plan?

Every estate plan should include six critical documents; only one missing piece can render your loved ones powerless to act in an emergency. However, if you have these six documents up-to-date, you will be prepared for whatever the future may bring. 1. A Trust A trust is the cornerstone of the most thorough estate plans,…

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New Year Estate Planning – What Documents Do You Need in Florida?

It’s time to take down the holiday decorations and prepare for the new year. With that said, this is the perfect time to update your estate planning portfolio and see whether you need to add or update documents. Regardless of age or asset levels, everyone should have a few basic documents prepared. Here’s a quick…

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Why You Need a Living Will

An injury or health condition can render you unable to communicate your healthcare wishes or take care of your financial affairs. When this happens, you need someone who can direct your medical care and finances on your behalf and in a manner that promotes your interests. With a living will, you can provide your loved…

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Three Estate Planning Factors to Consider Before 2022

The current economic and political climate points to tax changes that could affect your estate planning strategy. Understanding these factors can help you make the right decisions in protecting your assets and helping to make the most of the legacy you leave for your loved ones. This Might Be a Good Time to Consider Additional…

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Will vs. Living Trust: Which One Should I Choose?

Estate planning is about protecting your loved ones and executing your wishes after you die. Many people assume the best way to do this is through a will. However, a living trust achieves many of the same purposes with some unique advantages. What is the Difference Between and Will and a Living Trust? Your last…

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What Happens to Debt When You Die in Florida?

When approaching estate planning in Florida, many people ask what happens to debt when they pass away. The short answer to this question is it depends. Your debt might pass on to your loved ones, creditors might come after your estate, or creditors could be out of luck. Let’s review the different scenarios. Who inherits…

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What is a Will and Why Do I Need One in Florida?

Estate planning attorneys in Florida encounter many misconceptions when it comes to wills. To help set the record straight, we offer some examples of why having a valid will can be helpful and why it is a good idea for everyone to establish one. Recognizing the Power of a Will At its most basic, a…

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Have You Completed Your Back-to-School Estate Planning Homework?

The school season is right around the corner. If you are a parent, you have likely bought your little ones the essential items they need to get them through the school year. However, have you thought about how your kids would fare if you pass away during their youth, teens, or early adult years? Designate…

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9 Major Life Events That Should Remind You to Update Your Estate Plan

An estate plan is not something you can set in place and then forget. When your life undergoes a significant change, you probably need to make some adjustments to ensure that your plan still functions the way you want. Let’s review a few major life events that provide good reasons to update your estate plan.…

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