The SunSentinel is reporting that Medicare recipients are being scammed again by identity thieves who are trying to steal personal and financial information by claiming they are owed a Medicare HMO owes them a refund.
Claiming to work for Humana or CarePlus they ask for the birthdate, social security number, bank account information and Medicare numbers to process the refund.
For those of you who want to read the Reid-McConnell Tax Relief bill for more details on what is actually in it follow this link
For the summary download this document.
Whatever the extent of your Jacksonville property or assets, it is important to have your Florida will drawn up. If you die before you make a will, the State of Florida intestacy succession laws will distribute your property for you. It is important to consult with a Jacksonville Estate Planning Attorney to ensure that your will is prepared in accordance with Florida Statutes.
To be valid in Florida, your will must meet certain requirements:
• Legal age
• Testamentary capacity (of sound mind and body)
Forbes.com has reported that no price has been set for the Astros, but Drayton McClane Jr., has decided to sell the team for estate planning purposes. The team is worth a reported 455 Million and could create a tax bill of more than 200 Million dollars.
While the proposed changes to the estate taxes will help many people, it will still create major problems for larger estates. If you want to discuss your estate and what options you may have to reduce estate taxes or probate costs and delays, you should contact a Jacksonville Estate Planning Lawyer to discuss your circumstances and goals.
A Florida Personal Representative is appointed by the probate judge to settle the decedent’s (person who died) estate and distribute the property to the beneficiaries.
When an Orange Park resident dies without leaving a will (dies intestate), Florida Statutes, Section 733.301 provides for the preference in appointment of a personal representative. The order of appointment is:
A guardian of the property of minor children may serve if qualified, or may select the personal representative.
Where a person died intestate, with no surviving spouse, leaving two minor children, a Florida court reversed the appointment of the decedent’s father as personal representative, instead of the individual chosen by the heirs (the children). The Florida court stated that there was no surviving spouse and the person selected by both heirs, acting through the guardians of their property, was authorized and qualified under Florida Law to act as the personal representative.
When a Florida Wrongful Death action is settled, the money either goes to the estate of the decedent (the person who has died) or to the decedent’s survivors. If the settlement is small, it can be handled with a summary administration. When this happens, the settlement money becomes an asset of the estate and can be subject to the claims of creditors. With small wrongful death settlements, the potential risk from creditors needs to be evaluated to see if the savings in probate fees makes it worth while to consider a summary administration. It is important for a Jacksonville beneficiary of the estate to sit down with a Jacksonville Probate Attorney who can guide you through the probate administration process.
Probate is the court supervised proceeding for distributing the estate assets of the person who died. The probate process also identifies creditors who have valid claims against the estate. If a wrongful death settlement is listed as an estate asset, then it may be susceptible to the valid claims of creditors.
If you are a Jacksonville survivor under the Florida Wrongful Death Statute, protect your settlement award by knowing what estate assets are exempt and protected from the claims of creditors. Talk with an attorney experienced in Florida Probate cases.
It has been widely reported that the extension of the Bush Tax Cuts is being recommended by Obama in addition to agreeing to a new estate tax of 35% on assets in excess of 5 Million dollars but no one is reporting on what will happen with the loss of stepped up basis. For many Americans the loss of stepped up basis could cost more than if there was a lower estate tax exemption.
The bill is reported to be submitted to congress today so we should know soon what we are dealing with. Either way it will cause many American families to have to revisit their estate planning and life insurance needs over the next few months.
A Florida guardian may be appointed to exercise limited or total powers over a ward (minor, elderly or incapacitated person). There are times when a Jacksonville guardian appointed by the court has failed to act in the best interest of the ward. If a Jacksonville Guardian fails to ensure that the ward is being properly cared for or is not managing the ward’s property and assets in a responsible manner, a family member, friend or interested person may have to take action.
Consulting with a Jacksonville Guardianship Attorney may be the first step needed to rectify a frustrating situation, when you feel powerless to protect a ward. The Florida statutes allow for a proceeding to remove a guardian upon a showing that one of the proscribed reasons has been met. Reasons for removal, among several, may be when a guardian has abused his or her powers, has wasted or mismanaged the ward’s property or when a conflict has developed between the guardian and the ward.
To obtain information about the procedure for removal of a guardian or how to terminate a guardianship, it is best to discuss your situation with a Jacksonville Estate Planning Law Firm who has experience in guardianship matters.
One needs to be careful that they do not expose their assets in a Florida Limited Partnership to forced distributions because they choose a general partner that can be take over. In the past and in many other states, it is common to protect the GP from liability by making it a corporation or LLC. The problem with this is that if a creditor is able to take over the entity because of a judgment, then the creditor acting as the General Partner can force distributions that they can then attach by means of a charging order.
You should review your limited partnership agreements with a Florida Asset Protection Lawyer to review your LP structure for potential problems in light of recent Florida cases.
Florida does have a LLLP which can remove the liability of the general partner without the use of a more complicated business structure.
A new law in Oklahoma appears to let estate executors have the power to access, administer, or terminate online social media accounts of the deceased. This law is in direct contradiction to the licensing arrangements of most online accounts and it has yet to be seen how and if the law will provide rights to estates.
The law should remind the people as they go about their estate planning that, in addition to their personal and real property, they should make plans for the vast amount of intellectual property they will leave behind.
As digital photo accounts, iTunes accounts, cell phone applications, and email accounts replace their traditional counterparts with many people, it is becoming more important than ever to address these assets in every estate plan.
