Recent Blog Posts
Do You Own Stocks? Leave Them To Heirs In Your Will For Tax Savings
Estate planning is complicated, particularly thinking through the tax consequences of leaving property to your heirs. Fortunately, few estates will need to pay federal estate taxes, and Florida does not have an inheritance tax. Nevertheless, leaving stocks and other assets to people in your will can reap significant tax advantages. Capital Gains Tax When… Read More »
Aid And Attendance Benefits Requirements For The Villages Military Veterans
In addition to other government pensions, combat veterans or their surviving spouses who require constant care may be eligible for Aid & Attendance benefits. Available benefits are even higher for homebound veterans and surviving spouses. Given the escalating cost of nursing home care, which could be over $98,000 a year, these benefits could almost… Read More »
The Dangers Of A Do-It-Yourself Estate Plan
Many seniors like the independence of doing things themselves and enjoy saving money in the process. However, your estate plan is definitely one area where you need a professional’s help, even if it costs a little bit of money to get it. Below are some of the landmines you can step on if you… Read More »
Four Avoidable Trust Mistakes
A trust is a helpful estate planning tool. With a trust, you sign over assets to be managed by a trustee, who manages them on behalf of the trust’s beneficiaries. As an alternative to a will, a trust can help reduce the size of your estate and allow you to avoid estate taxes at… Read More »
How A Pour Over Will Can Protect Your Privacy
At Millhorn Elder Law Planning Group, some of our clients are surprised to find out that probate is a public proceeding. Not only is your will filed with the court, but any member of the public can research probate records to find out how many assets you had at death and who you left… Read More »
Compensation As A Florida Personal Representative
Being the personal representative of an estate is a lot of work. Not only must you submit the deceased’s will to probate court, but you will also need to deal with the estate’s assets and debts. Many people serve as personal representative for their parents or for their spouse but are unaware of the… Read More »
Warning Signs Your Loved One Is Being Psychologically Abused
Some abuse is very easy to spot. You might visit an elderly relative in a nursing home or at another facility and see unexplained bruises, cuts, or broken bones. However, the elderly are increasingly at risk of psychological abuse as well. This abuse is much harder to identify; nevertheless, you must take action at… Read More »
Four Common Estate Tax Planning Trusts In Florida
Even though the Sunshine State does not have an estate tax and federal lawmakers recently raised the IRS threshold, taxes are still a concern in many estate planning scenarios. The estate tax is not the only issue facing The Villages residents as they prepare their estate plans. Certain kinds of property, most notably rent… Read More »
Can I Disinherit My Child?
Yes—in some situations. It all depends on how old your child is. Under Florida law, you can certainly disinherit your adult children. However, certain rules prevent you from completely disinheriting minor children. Florida’s Homestead Laws The state’s constitution contains homestead laws that limit what you can do with your residence. In particular, you cannot… Read More »
Questions To Ask A Long-Term Care Facility
When an elderly parent or loved one can no longer live on their own, it is time to consider a long-term care facility. These facilities help residents with daily activities, such as getting dressed or preparing meals, as well as with their medical care. Choosing a long-term care facility is not easy, and you… Read More »
