The Importance of Disability Planning

For many, the New Year comes with New Year’s resolutions. If you have not completed your estate planning, or have not updated your planning in some time, doing so would be a good resolution to have. You might be surprised to know, estate planning does not simply mean having a plan for what happens in the case of your death.

Five Fast Facts About Trusts

What is a trust? Anytime legal terms start to be used, it is easy to get confused, especially with words that have other meanings in our day to day conversations. In this instance, a trust is a legal entity, similar to a corporation, which can own assets like bank accounts and real estate.

They’re Here…Florida ABLE Accounts

The Achieving Better Life Experience Act, or ABLE Act, was signed into law by President Obama in December 2014. ABLE updates the Internal Revenue Code to allow eligible individuals and their families to establish a tax-exempt savings account that allows for disbursements of income tax-free funds for “qualified disability expenses,” including education, transportation, housing, obtaining and maintaining employment, personal support services, assistive technology and health and wellness.

How Should I Own My Florida Homestead Property?

A commonly asked question is, “Should I own my homestead in my trust?” Generally, the answer is, “No.” This is not because of your ad valorem homestead exemption or even your Constitutional protection from the claims of creditors. It is not because we don’t want you to avoid probate.

Still Married? Cannot Disinherit the Spouse

Michael and David are a same sex couple who live in the same house, owned by Michael. Michael prepares a will leaving everything he owns to David. Michael is still married to Evelyn who lives in Iowa with their minor child. For various reasons, they never divorced and don’t necessarily intend to do so.