With the advent of technology, people’s lives have become in many ways more efficient. The Internet was especially instrumental in taking society to the next level of convenience, enabling people to pay their bills online and allowing instant communication in a variety of different forms and mediums. However, despite the conveniences of the online world, this new technology has also created a whole new type of estate planning need which did not exist before in Florida or any other state….
Nobody can escape the inevitable. Although death is usually not a comfortable subject, it is important for any adult, despite income or age, to make preparations for one’s own death or incapacitation. The best way to do this is through a good estate plan which ensures one’s assets will be distributed to one’s intended heirs. There are a variety of estate planning documents which are generally included in an effective estate plan in Florida or in any other state….
Anything can happen in life, and nobody can accurately predict the future. An incapacitating injury can occur at anytime, in Florida or in any other state. When an adult suddenly becomes incapacitated, a court-appointed conservatorship is established in some circumstances where the individual is not able to manage their own affairs.
This is what happened to one woman after she fell at home and suffered a brain injury. The woman was found by the court to be incapable of caring for herself due to her injury….
When planning an estate people are always trying to do whatever they can in order to avoid tax liability. One estate planning tool commonly used in Florida to accomplish this are irrevocable life insurance trusts. However, with the new estate tax threshold some experts are questioning whether life insurance trusts are still necessary.
Usually proceeds paid out through life insurance trusts are utilized for paying estate taxes, however since lawmakers have set the taxable threshold at $5.25 million for an individual and $10.50 for a married couple, life insurance trusts may no longer serve this purpose for many people….
Estate plans help make sure one is prepared in the case of one’s death. Although this is an uncomfortable topic, it is an important one to address. There are a variety of goals which people have in mind when making an estate plan in Florida or in any other state. Most people usually focus on avoiding tax liability when doing their estate planning. However, many experts believe it to be a common mistake to put too much emphasis on this aspect while ignoring other important elements of an estate plan….