Estate tax and related planning
The estate tax affects only certain estates: in 2023 it applies to estates exceeding a taxable value of $12.92 million, which is taxed at a rate of 40%. While this does not give cause for concern to many, these figures can and do change. Estate tax is often debated in politics and it frequently changes. […]
Morrow v. Morrow, 354 So. 2d 642 (Fla. 3d DCA Feb. 8, 2023)
The recent Third District Court of Appeal reviewed the requirements for a valid will under Fla. Stat. 732.502 and found the handwritten will which was at issue, in this case, to be valid. In this case, both on a confession of error and based on the court’s independent review, the appellate court found that the […]
Is there privacy in probate?
An often-asked question from potential clients is whether probate matters can remain private and protected from the public eye. Most people want their personal family and financial affairs to stay private. But, if you have a will, it must be deposited (filed) with the probate court after your death. (To be technical, the custodian of […]
Probate as relates to IRAs and Life Insurance
Generally speaking, the probate process in Florida begins with filing a petition for administration in the circuit court, in the county where the decedent resided at the time of their death. From there, the next step is for the court to appoint a personal representative to administer the decedent’s estate, by issuing a court order which […]
Consider Debt When Planning Your Estate
When planning for the future, many people tend to focus on asset division. However, before you will your Florida home and its contents to your son or daughter, it may be wise to factor debt into the equation. Typically, personal debt will lie only with the borrower and cannot be passed down to children or […]
Guardianship In Palm Beach County: Terminology Often Confusing
For years Palm Beach County citizens who have gone through the judicial system have been thoroughly confused due to the large array of legalese bandied about during probate court proceedings. This language, whose origin dates back generations, has long been utilized to clarify certain aspects of court proceedings by trained legal professionals. Despite the clarity […]
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 […]
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. There was […]
Estate Planning Can Address Assets Large And Small
Death is an inevitable part of life. Although it can be uncomfortable to deal with, preparing for one’s eventual passing is important to make sure that one’s family and loved ones are taken care of after one passes away. This is why it may be valuable for readers in Florida to consider moving forward with. […]
Pets Are A Concern For Some During Estate Planning In Florida
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 […]