Those with a high level of assets need to take special precautions in order to protect these assets. Proper estate planning will make sure that these assets will be available for their heirs after they pass away. Many of these wealthier individuals have been turning towards trusts and limited liability companies (LLCs) in order to protect their assets in Florida and in other state.Since 1983, there has been almost a 35 percent increase in the use of LLCs and trusts nationwide, according to data from the Internal Revenue Service….
Even when a person is an adult, many times people need help in managing their lives for one reason or another. One of the most common reasons a person needs this type of help is because of psychiatric conditions. This may be what is happening with Amanda Bynes about who many in Florida have been reading recent headlines regarding her erratic behavior, which could result in her mother receiving conservatorship over the actress.
The actress’s parents have recently been prompted by her 5150 psychiatric hold to file for a conservatorship over their daughter….
When planning an estate it is important to ensure that one’s intended beneficiaries receive one’s assets. However, another aspect to take into consideration is estate tax planning which can help minimize tax liabilities of the estate. James Gandolfini, who many in Florida will remember as a well-known actor, may have had other objectives outside of this essential part of estate planning which has, unfortunately, led his estate open to unnecessary tax liabilities.
One thing the actor did which left his estate unprotected from tax liabilities is leaving less than 20 percent of his assets to his wife with the remainder of his estate going to his infant daughter and his sisters….
Lawmakers are always constantly changing the laws which govern the nation. Most recently they passed new laws which made a significant difference in estate tax planning strategies in Florida and other states. The American Tax Relief Act of 2012 (ATRA) was passed in early January 2013 by lawmakers and then was promptly signed into law by the president. The new rules regarding the estate tax are giving consumers an advantage which they should be informed about.
Prior to the passage of the new legislation the estate laws already provided exclusion from the estate taxes….