Category Archives: asset planning
Taxes And Estate Planning
News that a person has inherited a large sum of money or a valuable asset may bring some initial joy and gratitude, however, it may also cause the heir to be concerned about taxes and how much will have to be paid before they can receive the inheritance. While some people may decide to… Read More »
Things to Consider Before Writing Your Will
It may be difficult to think about death, but it is important for your sake and the sake of your loved ones to prepare for that eventuality by making a comprehensive estate plan that may include a will. However, there are some things that you should think about before sitting down to write your… Read More »
Starting A Family Foundation
You do not have to be a billionaire to start a family foundation. In fact, it may make sense as part of your estate planning and wealth management. However, it is important to reach out to a skilled legal professional before making any decisions regarding your future estate plan. What is a Family Foundation?… Read More »
Estate and Tax Planning Basics Part 1
Planning your estate involves thinking about taxes. Skillful tax planning can help you to avoid and minimize some of these taxes. This article gives an overview of two of the common kinds of taxes you may need to be aware of when planning your estate. Estate and Gift Tax When people think about tax… Read More »
Protecting your Assets when a Spouse Needs Long-term Care
When a loved one is ill, there are a lot of concerns. Is she getting good care? How will we pay for the care? What happens if he cannot come home? Among the concerns that trouble people the most is the fear that the cost of long-term care will exceed one’s financial resources. In… Read More »
Tax Time is the Right Time for Estate Planning
It is tax time again, and across the country, millions of Americans are meeting with their tax preparers to reduce their tax liability and minimize their taxes. Older adults have added concerns when filing taxes, especially high net-worth seniors. This year, before you file your return, consider meeting with an elder law attorney. Here… Read More »
Pros and Cons of Creating a Florida Life Estate: Part Two – The Drawbacks
In the last post on Florida life estates, we looked at some of the potential benefits of sidestepping probate by conveying real estate using a life estate. This simple and effective transfer allows a life tenant to have unfettered use of the property while alive, while allowing another party to have the ultimate title… Read More »
I am Going Into a Nursing Home: Can I Give the House to My Kids?
Florida elder law attorneys are frequently asked to help save the family home. For many seniors, their home is their largest investment and greatest asset, and in many cases there is no longer a mortgage on the property. Therefore, it only makes sense they would want to secure the asset, not only to provide… Read More »
Will the Nursing Home Take My House?
Clients often wonder what will happen when and if they must go to a long-term skilled nursing facility. Fears may range from practical financial concerns, such as whether their retirement will be sufficient to cover the expense or whether they will become a financial burden on their children to more unspeakable fears like mistreatment… Read More »
Advanced Planning May Reduce the Risk of Elder Exploitation
It is a scenario Florida elder law attorneys have seen too many times. A potential client comes to the office to discuss her mother’s situation. Mom has been suffering from dementia for almost a year, but it is rapidly getting worse. When the client went to pay some of her mother’s bills, she noticed… Read More »
