Boyes, Farina & Matwiczyk

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Tagged: estate administration

Being Honest About Debt Will During Estate Administration

…After a person passes away, their heirs and family will be responsible for dealing with distributing the person’s assets and money. Estate planning before death can significantly help intended beneficiaries navigate through the estate administration process while also avoiding costly court fees associated with probate proceedings. One of the most important steps in Florida estate planning is to inform intended beneficiaries of any debts remaining, including credit cards, mortgage obligations or any other large debts that have not been paid off.

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Estate Planning Can Benefit Those With Modest Income In Florida

…Many consumers neglect to create an estate plan because they believe planning an estate is only beneficial for those who are wealthy. They believe this because the current estate tax laws only affect a small percentage of the wealthiest in Florida and elsewhere. However, estate planning is not only designed for wealthy people to avoid estate tax, it can also be beneficial to those who are not wealthy and make a modest income.

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Estate Planning Prepares For Estate Administration In Florida

…Financial planning is important for preparing for the future. In Florida, this can mean a variety of things, ranging from making plans to finance a child’s college education or preparing for retirement. However, one of the most important, yet commonly neglected, aspects of financial planning is estate planning. Creating an estate plan makes it easier to distribute an estate’s assets to intended beneficiaries during the estate administration process.

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Proper Estate Planning Will Help Heirs Administer Estate Easily

…Most people do not particularly enjoy talking or thinking about their own deaths. However, death is a fact of life and this will be something which a person’s loved ones will have to deal with at some point. It is helpful to think about the financial consequences of a family member’s eventual death, since it will be up to the decedent’s survivors to settle that person’s financial affairs in Florida or anywhere else.

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Certain People In Florida Procrastinate On Estate Planning

…Planning an estate is important for just about anyone. It may be especially important for those in Florida who have significant investments in stocks and other financial products. However, a recent study has revealed that one out of every five investors have not done any estate planning. The study also found that there are certain groups of people who may be more prone to procrastinating on creating their estate plans.

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Fiscal Cliff Deal Benefits Estate Planning In Florida

…The recent negotiations in Congress regarding the so-called ‘Fiscal Cliff’ had many people looking to plan their estates worried, because they did not know how the changes would affect the estate tax and the gift tax rules. However, at the end of last year Congress was able to agree to make permanent many of the favorable estate planning rules.

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Fiscal Cliff Deal Changes Estate Planning Strategies In Florida

…The recent fiscal cliff tax deal has had significant effects on how people are planning their estates. The most significant aspect of the fiscal cliff deal is the estate tax. The new legislation keeps the exemption for the estate tax at $5.12 million, which is now permanent and can be moved between spouses.

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Pastors In Florida And Elsewhere Neglect Estate Planning Needs

…Pastors of the Southern Baptist Foundation are usually more concerned with their spirituality rather than the worries of the physical world. Although this is commendable, this may have also caused many pastors in Florida and elsewhere to neglect doing any proper estate planning. A survey recently found that almost 40 percent of pastors in the Southern Baptist Convention had no estate planning whatsoever.

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Estate Planning In Florida Should Include Digital Assets

One must consider a variety of factors when planning an estate. Individuals in Florida and elsewhere will have to decide what they want done with their money and their property. Some of the assets which need to be dealt with include real estate, vehicles, stocks and bonds along with personal items.

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Careful Estate Planning Can Avoid Probate In Florida

…Planning one’s estate is among the most important things a person can do in order to save family from grief after one passes away. Many times small details make a large difference when it comes to estate planning in Florida or elsewhere. Individuals should take care to ensure that an estate plan is clear and concise as well as legally enforceable.

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