According to Forbes Magazine the United States has over four hundred billionaires. Currently, three Liberal members of the Senate are working on a plan that calls for a 10% estate “billionaire surtax” that would go into effect retroactively. This would raise the tax rate to 65% on all estates that…
In Florida, it is a common principle of law that criminals should not profit from their crimes. Therefore, it follows that a murderer should not be able to inherit from the estate of their victim. The most common, but unfortunate event that would trigger a slayer statute would be when…
Being named the “Personal Representative” or “Executor” of someone’s estate under a Florida Will should be a decision made after consider several factors. Although many people may be tempted to name their spouse or one of their children as personal representative, there are certain qualities one should look in a…
Intestate succession is a statutorily imposed way of passing property to descendants after death. In Florida, an adopted child is treated exactly the same as if he/she was a natural born child of the adoptive parents (mother and/or father). This means that for the purpose of intestate succession by an…
Many people create a Florida Will on their own or with a Florida Estate Planning Lawyer and later want to make a change to one or all of the beneficiaries. Although this can be frustrating because substantial time and thought went into creating the first Florida Will, there are certain…
Today, more people than ever before are finding the need for a prenuptial agreement before marriage. A Florida Premarital Agreement is an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage. Although many people view creating a prenuptial agreement as an adversarial process with…
When using a Specific Devise in a Florida Will or Florida Revocable Trust it is important to understand how they work and what causes them not to work in order to avoid unintended consequences. A specific bequest is a gift of a particular identifiable asset within the estate that can…
We have started reviewing digital assets for whether they are assignable and when they will be deactivated. There are services that purport to pass on login information to who you designate after you die. Remember that such a transfer does not appear to be legal and may create liability to…
It is a common mistake many people make to believe that only the rich and wealthy need to implement a Florida Revocable Trust as a component of their Florida Estate Planning. Often after taking into account your home, bank accounts, cars, brokerage accounts, jewelry, collectibles, and life insurance policy most…
Florida Estate Planning involves many situations where is the potential do have disputes over money or assets. Many problems arise from poorly planned and drafted estate planning and these can lead to fights amongst family members, IRS audits, and lead to high litigation costs. Focusing on your specific needs can…