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Monthly Archives:July 2014

Trusts Should Be Created Sooner Rather Than Later In Florida

July 28, 2014

There are various types of estate-planning tools available for those looking to plan ahead. For those who have chosen to utilize a trust as part of their estate-planning strategies, many may be wondering when would be an ideal time to create a trust in Florida. However, most legal experts agree that, once a person has decided on using a trust, there is no sense in waiting, since trusts can be amended if necessary in the future.

People use trusts to accomplish a variety of estate-planning goals….

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Lawmakers Propose To Repeal Estate Tax In Florida

July 20, 2014

Lawmakers are constantly proposing changes to existing laws. Now, one lawmaker is proposing legislation that would repeal the estate tax. Many political commentators believe that the proposed bill has a good chance of being enacted into law. This could result in significant savings for many beneficiaries in Florida or in any other state.

There are more than 218 co-sponsors of the bill, which accounts for over half of the representatives in the House. The bill, H.R….

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Lou Reed Failed To Use Trust Planning Strategy

July 14, 2014

There are many tools available for planning an estate. The ones a person in Florida chooses will depend upon one’s specific circumstances. Although having something is usually better than nothing, if one chooses the wrong estate-planning strategy, it could cause significant problems down the line. It appears that Lou Reed had chosen a less-than-optimal estate-planning strategy by ignoring his need for trust planning.

Apparently, Reed, who was known as the lead singer and guitarist for the band The Velvet Underground, only had a will as his entire estate-planning strategy….

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Preparing For Medical Costs Is Important In Estate Planning

July 6, 2014

Planning an estate is about preparing for one’s death. However, it is also about making preparations for possible serious sickness or incapacitation in the future. If one is physically not able to make decisions for himself or herself due to a medical situation, this can be a serious issue for that person in Florida or elsewhere. Therefore, one should make the proper preparations during estate planning.

A health care proxy will empower an individual or entity of one’s choosing to make medical decisions while one is incapacitated due to a medical situation….

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