Boyes, Farina & Matwiczyk

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Tagged: estate planning

Digital Estate Planning Is Important In Florida

…With the advent of technology, people’s lives have become in many ways more efficient. The Internet was especially instrumental in taking society to the next level of convenience, enabling people to pay their bills online and allowing instant communication in a variety of different forms and mediums. However, despite the conveniences of the online world, this new technology has also created a whole new type of estate planning need which did not exist before in Florida or any other state.

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What Documents Are Needed For Estate Planning In Florida?

…Nobody can escape the inevitable. Although death is usually not a comfortable subject, it is important for any adult, despite income or age, to make preparations for one’s own death or incapacitation. The best way to do this is through a good estate plan which ensures one’s assets will be distributed to one’s intended heirs.

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Tax Liability Not The Only Important Thing In Estate Planning

…Estate plans help make sure one is prepared in the case of one’s death. Although this is an uncomfortable topic, it is an important one to address. There are a variety of goals which people have in mind when making an estate plan in Florida or in any other state. Most people usually focus on avoiding tax liability when doing their estate planning.

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New Estate Planning Laws Offer Advantages For Those In Florida

…Strategy is an important aspect of planning an estate. One of the most important aspects of estate planning strategy is planning for tax liabilities in Florida or in any other state. Lawmakers recently passed the American Tax Relief Act of 2012 (ATRA) which has resulted in significant changes in strategies for tax planning for estates.

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Celebrities Guilty Of Estate Planning Mistakes

…Celebrities are really just normal, everyday people. They can make mistakes just like everybody else does in Florida and in any other state. Many of these mishaps revolve around financial planning decisions by celebrities. Some of these financial mishaps involve celebrities making significant estate planning mistakes. Among the celebrities who reportedly made poor decisions regarding their estate plans include Sammy Davis Jr., Steve McNair and many other famous people.

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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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Variety Of Options Available For Estate Tax Planning In Florida

…When one considers planning of an estate, he or she wants to make sure that his or her assets are properly transferred to intended beneficiaries after death. However, another aspect to consider in estate planning is estate tax planning. Most people in Florida and elsewhere will want to do everything possible to minimize the estate tax liabilities for their intended beneficiaries.

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Planning For Estate Administration Important For Young People

…Death is inevitable, of course. However, for many younger Americans in Florida and elsewhere, death is one of the last things on their minds. Many younger people tend to neglect planning for estate administration because they believe only older people need to plan for their own deaths. This line of thinking can be detrimental, since planning an estate is essential to anybody’s financial plans — regardless of age.

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