Life can be shorter than one thinks, and it’s best to enjoy every minute of it to the fullest. Along the way, some people may believe that only wealthy people need to be concerned with estate planning. However, taking the time necessary to plan an estate in Florida can ensure that the assets will be distributed as needed and help loved ones avoid future problems with estate administration.
There are several steps which one must undertake when planning an estate….
Most people plan their estates with their family and close friends in mind. They want to make sure their loved ones are taken care of. However, one ‘loved one’ which is commonly overlooked during estate planning in Florida and elsewhere is the family pet. With the onset of the recent Hurricane Sandy, many people have been forced to think about what to do with their family pets in the case of a disaster or accident. There are a variety of tips which many estate planning experts suggest when dealing with the family pet….
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. Luckily, there are special types of trusts which are especially designed for people in Florida who are on their second or third marriage.
These special types of trusts are called QTIP trusts, which stand for qualified terminable interest property trust….
Florida residents who have engaged in the estate planning process may be aware that it is more complex than merely deciding who gets the family condo or grandmother’s prized china. In fact, there may be more variables to the process than most people realize when they get started, such as estate tax planning, which is a serious aspect of estate planning that should be carefully considered to ensure that no errors are made and tax liabilities are considered correctly….