Notables

…Even celebrities need to plan ahead. This is what George Lucas, the creator of the ‘Star Wars’ films series, has been working on lately. Lucas has decided to sell his company, LucasFilm, to Disney for $4.05 billion in cash and stock. Many financial experts believe that the 68-year-old Lucas was purposely making an estate planning move when he decided to sell his company.

…Guardianships are meant to protect the interests of individuals who are not capable of doing so themselves. However, determining which people really are not able to make decisions for themselves may not be straightforward. Many cases in Florida and elsewhere may be subjective and will depend upon interpretation. There are many instances when the ward does not believe he or she requires a guardianship.

Marriage can make some issues more complicated. This can be even truer for financial issues such as estate planning. However, remarrying can make estate planning even more complicated, especially if there are children from a first marriage that a parent wants to protect in the event of his or her death.

When planning an estate it is best to have an overall financial plan that takes into account the consequences of tax law, especially estate taxation rules and regulations. There are many ways for Florida individuals to help their heirs maximize family inheritances, an important consideration in light of estate tax laws.

…The elderly are an important part of society. With their experience and knowledge, they play an integral part in preparing the next generation for what lies ahead. That can make it seem particularly unfortunate when the elderly in Florida are abused and taken advantage of. This may have been the case with one 76-year-old man and his niece, who is being accused of exploiting her elderly uncle for financial gain.

…It is no secret that warmer southern states, including or especially Florida have a high number of retirees. But people of any age are often reluctant to talk about estate planning with their loved ones. It is generally an emotional subject which can also be scary as well. No one wants to consider their own mortality, however it is necessary to discuss one’s will planning with family and heirs because how one drafts his or her will has legal ramifications.

…On May 16, in a post titled “Will planning in Palm Beach County: some things to remember,” we told you about some important things to recall alongside the will drafting process. In addition to those things, new reports indicate that closer attention to the will planning process may be beneficial to estate plans.

…Nobody lives forever. This is why it is important that people in Florida have a proper estate plan in place just in case something unexpected occurs. When a person dies without carefully crafting an estate plan, his or her heirs may be subject to a variety of unnecessary costs. Hence, it is a good idea to periodically undergo an estate planning checkup in order to ensure everything is in place for proper estate administration at the appropriate time.

…There are various aspects to consider when estate planning. One of these factors may require considering the tax implications of planning an estate. This is especially pertinent to some people, since previous cuts to the estate tax are set to expire at the end of this year if Congress does not act to extend them.

…It is undeniable that farmers make up an important segment of American society. They provide the nation with a reliable food source, allow us to avoid reliance on foreign food imports and also give us the means to import food products of American manufacture. In addition, farming is a cultural tradition, one that is passed down over countless generations.