Tagged: Florida

…An individual’s personal decision to name a preneed guardian may prove to be vitally important.  A competent adult is permitted to select a preneed guardian by making a written declaration that names a specific guardian to serve in the event of the person’s incapacity.  Section 744.3045(1), Florida Statutes.  In the event that a proceeding to determine incapacity is initiated, a valid written declaration naming preneed guardian constitutes a, “rebuttable presumption that the preneed guardian is entitled to serve as guardian.”  Fla.

…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.

…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 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.

…In the midst of authorities searching for a wealthy Florida philanthropist who went missing after a boating trip last month, the man’s mother filed for a petition in court to be named the sole conservator over his estate. Since the first few days after his disappearance the philanthropist’s mother and wife have been battling each other in court over conservatorship of his estate.

…The elderly are particularly vulnerable to being exploited by their caretakers. This is why the Palm Beach County Clerk and Comptroller started the county’s guardianship fraud hotline last October. The hotline has since received 57 calls, which have led to 13 investigations into possible fraudulent activity. The police have taken control of 12 of these cases.

…It is becoming increasingly more common for children to grow up in the care of relatives other than their parents. This is especially true for states such as Florida, where this type of guardianship accounts for 40 percent of the children in foster care. Some critics argue that the state should increase assistance to children in these situations because the financial and emotional challenges faced by these children are significantly worse than other children.

…When a 48-year-old multimillionaire from Palm Beach, Florida decided to adopt his 42-year-old girlfriend, the decision definitely turned heads. While the choice may be suspect from the perspective of adoption law, the move may sound more strategic from an estate planning perspective. The decision may have been made to protect a trust set aside for his children.

…Many people in Florida and elsewhere consider their pets to be members of the family. Pet owners often want to know that their furry, loved ones will be taken care of after they are gone. Commonly, pet owners ask a trusted person to care of their pet, but sometimes the caretaker changes his or her mind when it comes to taking in the pet.