Monthly Archives: October 2014
October 31, 2014
…Some adults lack the capacity to manage all of their property or to take care of their own essential health and safety needs. A resident of Palm Beach Gardens that falls into this description can have a guardian appointed by a court to look after them. If the court determines, after thorough examination, that a person does need a guardian and that no less restrictive alternative is sufficient, then any adult in Florida may be appointed, or relatives of the individual whether or not they live in Florida.
October 21, 2014
Although most people have heard of the gift tax, the name is somewhat misleading. In most cases, individuals who give large gifts will never pay taxes for doing so. Those who give more than $14,000 to an individual in 2014 will have to tell the IRS about that gift on Form 709.
October 16, 2014
…If a Florida resident dies without a will, the state intestacy statute determines how the decedent’s assets will be distributed. If there is a surviving spouse with no living descendants or only descendants in common with the decedent, the surviving spouse receives all of the estate. If the surviving spouse has at least one descendant who is not also a descendant of the decedent and at least one descendant who is a descendant of the decedent, the surviving spouse receives half of the estate and the mutual descendants share the other half.
October 8, 2014
…Florida residents who are planning to leave an estate must follow the state’s guidelines on probate planning and estate planning so that their beneficiaries do not have to endure an estate dispute. Probate is a legal process in which the courts identify the decedent’s assets, pay the cost of the probate action, pay off his or her debts and distribute any remaining assets to his or her designated beneficiaries.
October 2, 2014
…Estate planning can be a complicated process for many people. However, in can be helpful for some to separate the basic estate planning steps into two categories. The first considers the people who are involved in and benefit from the estate plan, and the second category focuses on the vehicles used to distribute the estate.