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Estate Planning Archives

Estate plans for same-sex couples require special attention

If you are a part of a same-sex relationship, there are a number of ways your estate plan may be a bit more complex than those of heterosexual couples. Unfortunately, there are a number of laws that still lag behind the changing tide of public opinion, and setting aside the unfairness of the situation, if you want to ensure that your estate plan serves your interests and provides for your partner, there are several key considerations to attend to. One of the most prevalent issues is marriages to previous partners that you might assume were invalid outside of the state where you registered.

Have you updated your will since moving to Florida?

Florida is famously a place where many individuals and couples relocate in their golden years to enjoy warm, inviting weather and plenty of sunshine. However, many aging individuals neglect to keep their loved ones safe by failing to take simple preventative measures when they relocate. If you have recently moved to Florida, or intend to do so soon, make sure that you have properly updated your will.

How can I increase my non-taxable gifts each year?

One of the most frustrating things about trying to spread around your good fortune to the ones you love is the relatively low ceiling on non-taxable giving. If you've been a little too generous before, you know just how infuriating this can be. You just want to give something good to someone you love, and end up giving them a bit of a double edged sword — a generous gift with a tax burden waiting on the other end. Fortunately, with little bit of planning, you significantly expand your ability to give without creating a ta dilemma.

Do young people need an estate plan?

Many young people believe that they simply do not need to make an estate plan, or that estate planning is for older people. The truth of the matter is that estate planning can be helpful for anyone who wishes to dictate how their assets are distributed after their death, or simply create a plan for you can make end-of-life decisions if the unthinkable happens. While many young do not often think that they may die before reaching old age, nearly everyone knows one or two individuals who passed away before their time.

Do I need a will if I don't own much?

Often, those who are young or do not have many material possessions fall prey to the incorrect assumption that they do no t need a will. However, this is a faulty approach to will-creation. Not only does a will govern how your estate will be distributed (however modest it may be), it also can declare your wishes for a number of very personal decisions.

Protect your family with a proper will

These days, it is common for a person to have children from more than one marriage. While there is certainly nothing wrong with this, it can present some practical estate planning difficulties that should be addressed proactively to avoid leaving your loved ones an inheritance of conflict when you pass away.

How might a condominium affect my estate plan?

Florida is a unique state in many ways, often leading to peculiar legal issues that residents in other states do not often encounter. Among other things, Florida has a much higher percentage of residents who choose to live in condominiums than many other states. Condominiums present interesting legal challenges because they often do not operate in the same way that more traditional homes might. Also, many condominiums operate with a super-localized form of informal government in their board. A condominium's board makes many decisions about day-to-day operations in the community, and how various fees will be assessed and used.