Category Archives: Estate Planning
How to Include Grandchildren in Estate Plans
There are many reasons to include grandchildren in an estate plan. For one, you might be afraid that if you only leave assets to your children, they will use them all and leave nothing for your grandkids to inherit. For another, you might want your grandchildren to enjoy the fruits of their inheritance while… Read More »
Can You Amend an Irrevocable Trust?
Irrevocable trusts are an important estate planning tool. Many of our clients realize immediate tax savings by moving assets into an irrevocable trust. However, these trusts have certain disadvantages, one of which is trying to make changes to it. At Millhorn Elder Law Planning Group, our estate planning attorneys meet with many clients who… Read More »
Protecting against Medical Identity Theft
When people talk about identity theft, they often mention how thieves steal a person’s Social Security Number to open a credit card or obtain a personal loan. However, medical identity theft is also a serious problem. At Millhorn Elder Law Planning Group, our estate planning attorneys recommend that our neighbors here in The Villages… Read More »
Do You Own Property in Another State? Meet with Our Estate Planning Attorney
Many of our clients own property in more than one state. Maybe they moved to Florida but have not yet sold their home back in New Jersey or New York. Or maybe they inherited a piece of property from their parents. Other clients have multiple homes and spend part of the year outside of… Read More »
Dementia Diagnosis? Contact an Elder Law Attorney
Receiving a dementia diagnosis can be devastating. According to the Alzheimer’s Association, nearly 6 million people in the United States live with dementia. Some people are at the end of their lives, though hundreds of thousands of people receive a diagnosis before age 65. If you’ve been diagnosed with dementia, it is vital that… Read More »
5 Reasons People Put Off Creating an Estate Plan
According to AARP, about 60% of Americans do not have an estate plan in place. With the continuing coronavirus pandemic, this makes little sense. Instead, we encourage all people in The Villages to create an estate plan as soon as possible. With decades of collective experience, we have heard all sorts of reasons for… Read More »
Should You Change Your Personal Representative?
One of the most important estate planning decisions is choosing the right personal representative. In Florida, this is the person who will shepherd your estate through the probate process. He or she will collect estate assets, keep them safe, and pay any bills you owed at death. Then the personal representative will distribute your… Read More »
Higher Estate and Gift Tax Limits for 2021
We aren’t entirely sure of what the new year will bring, but one thing we are confident of: our clients will be able to leave more of their money to their loved ones tax free. The IRS recently announced that the official estate and gift tax limits are increasing in 2021. We encourage residents… Read More »
Divorce & Your Estate Plan: 5 Things to Know
Increasing numbers of Americans are divorcing later in life. Indeed, Forbes notes that although the divorce rate is declining across the nation, it is increasing for those over age 50. Divorce as a senior is very different from divorce when you are 30. Chances are, you have more assets, more retirement income in play,… Read More »
Should You Set up a College Savings Plan for Grandchildren?
Many grandparents want to leave assets to their grandchildren but don’t know how to go about doing that. Today, the most important asset that a person can have is education. With a college education, a person can earn much more over their lifetime and enjoy other benefits, such as greater life expectancy. Many clients… Read More »
