Strategy is an important aspect of planning an estate. One of the most important aspects of estate planning strategy is planning for tax liabilities in Florida or in any other state. Lawmakers recently passed the American Tax Relief Act of 2012 (ATRA) which has resulted in significant changes in strategies for tax planning for estates. Luckily, many of the changes are beneficial for those planning their estates as long as they alter their strategies to take advantage of these beneficial provisions….
Celebrities are really just normal, everyday people. They can make mistakes just like everybody else does in Florida and in any other state. Many of these mishaps revolve around financial planning decisions by celebrities. Some of these financial mishaps involve celebrities making significant estate planning mistakes. Among the celebrities who reportedly made poor decisions regarding their estate plans include Sammy Davis Jr., Steve McNair and many other famous people.
After the legendary entertainer Sammy Davis Jr….
Partner John Farina has been named a 2013 Top Rated Lawyer in Commercial Litigation by American Lawyer Media and Martindale-Hubbell®, one of the nation’s most distinguished and oldest lawyer rating services. In May of this year, John Farina was named a 2013 Top Rated Lawyer in Trusts & Estates, also by American Lawyer Media and Martindale-Hubbell®.
Mr. Farina holds Martindale-Hubbell’s AV Preeminent® peer review rating, the highest attainable rating for legal ability and ethical standards. John Farina is a Florida Bar Board Certified Business Litigation Attorney and is also Florida Bar Board Certified in Wills, Trust and Estates….
After a person passes away, their heirs and family will be responsible for dealing with distributing the person’s assets and money. Estate planning before death can significantly help intended beneficiaries navigate through the estate administration process while also avoiding costly court fees associated with probate proceedings. One of the most important steps in Florida estate planning is to inform intended beneficiaries of any debts remaining, including credit cards, mortgage obligations or any other large debts that have not been paid off….
Many consumers neglect to create an estate plan because they believe planning an estate is only beneficial for those who are wealthy. They believe this because the current estate tax laws only affect a small percentage of the wealthiest in Florida and elsewhere. However, estate planning is not only designed for wealthy people to avoid estate tax, it can also be beneficial to those who are not wealthy and make a modest income.
Most Americans do not have any estate plan in place….