September 17, 2013
…There are many reasons why the wealthiest families on the planet are wealthy. Although not every family has an extreme amount of wealth, sometimes families with more modest, yet considerable wealth, can learn something about maintaining their wealth for future generations by looking at what the world’s wealthiest families have done in terms of estate planning in Florida or in any other state.
August 25, 2013
…Those with a high level of assets need to take special precautions in order to protect these assets. Proper estate planning will make sure that these assets will be available for their heirs after they pass away. Many of these wealthier individuals have been turning towards trusts and limited liability companies (LLCs) in order to protect their assets in Florida and in other state.Since 1983, there has been almost a 35 percent increase in the use of LLCs and trusts nationwide, according to data from the Internal Revenue Service.
July 11, 2013
…When planning an estate people are always trying to do whatever they can in order to avoid tax liability. One estate planning tool commonly used in Florida to accomplish this are irrevocable life insurance trusts. However, with the new estate tax threshold some experts are questioning whether life insurance trusts are still necessary.
May 7, 2013
…There are many strategies that a person may utilize to plan an estate. Along with a last will and testament, many people in Florida and elsewhere are utilizing life insurance policies and even life insurance trusts in order to achieve their estate planning goals. This can allow people to help their heirs avoid paying additional taxes which they may not have to.
April 12, 2013
…People commonly invest in trusts as part of their estate planning strategies. Trusts can be an effective tool if used correctly. However, it is necessary to adapt to changing tax laws which affect how trusts are taxed. The recent fiscal cliff tax agreement and other changes in tax laws have prompted many in Florida and elsewhere to adjust their estate planning strategies.
November 1, 2012
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.
October 24, 2012
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.
September 5, 2012
…Planning one’s estate is an important endeavor, which should not be ignored. It is best to avoid procrastinating on making these decisions. Estate planning in Florida or elsewhere can come in many different forms. One form of asset protection which has seen an increase in popularity is using trusts. This method comes with a variety of advantages and useful qualities.
August 15, 2012
…A trust is a contract that specifies the terms in which a party is to control property or assets for the benefit of others, known as beneficiaries. The party or person in charge of the trust is known as the trustee. There are a variety of reasons and benefits to create trusts in Florida and elsewhere.
August 1, 2012
…When a person dies and the decedent’s assets are transferred to another party, those assets are subject to taxation. The estate tax has been under scrutiny by lawmakers for the past several years. Some politicians want to continue the tax breaks started during the Bush administration; however, the Obama administration is proposing to end the Bush-era cuts on the estate tax, which could affect many in Florida.