All month long we will be discussing estate planning for certain individuals. This week we will focus on estate planning for newlyweds. Estate Planning for Newlyweds Marriage is the formation of a new family unit. This is a great time to begin estate planning as most of the time, it …
Read MoreEstate Planning vs. Probate | Why You Should Engage in Estate Planning
A recent article on wealthmanagement.com discussed how most Americans’ inheritances go through probate due to lack of preparation through an estate plan. From the article: “Surveys confirm that avoiding probate is the primary reason that clients engage in estate planning today. Yet, the estates of the majority of Americans will …
Read MoreDealing With Social Media Accounts After Death
Social Media Accounts After Death In our last post we discussed digital assets and how to plan for them. This week let’s focus on a specific digital asset that has become a part of almost every client’s estate: social media accounts. Below is a brief description of Facebook and Twitter’s …
Read MoreDigital Assets Discussed and How to Plan for Them
A common oversight in estate planning has become planning for the administration of digital assets. Digital Assets are any files stored on digital devices, desktops, laptops, tablets, smartphones, cloud technology, etc. It also includes email accounts, online banking accounts, social media accounts, owned web domain names, and other programs and …
Read MoreElder Abuse and Exploitation
What is Elder Abuse and Exploitation? Florida’s climate and benefits make it the perfect state to retire. While Florida law has a safeguard in place to prevent fraud and elder abuse, it is still prevalent and widespread. The elderly are rarely exploited by a stranger—unfortunately, it is usually a loved …
Read MoreLet’s Talk Reverse Mortgages
Reverse mortgages are an issue that is becoming more talked about as people are retiring while still owing money on their homes. Reverse mortgages are available to people over 62 years old that are in need of some liquidity to pay off their expenses, make improvements to their homes, pay …
Read More3 Tips to Talk About Inheritances with Your Family
Most clients typically do not talk to their children about their inheritance. Some don’t want to think or talk about dying. Others are uncomfortable talking with their kids about financial matters, or letting them know how much they will inherit out of fear it will curb their motivation. So when …
Read MoreWills vs. Trusts
Wills vs. Trusts. What’s the difference and which one should I have? Estate planning clients come in and usually start the conversation with, “I need to do my will” with the basic understanding that once the will is done their estate plans are set. While a will is a good …
Read MorePower of Attorney and How it Relates to Attorneys of Fact
An attorney-in-fact is the person you designate in your durable power of attorney to make financial and legal decisions on your behalf. In case you become incapacitated or are unable to make decisions for yourself. People tend to procrastinate on preparing these documents because “someday” they will get around to …
Read MoreEstate Planning for Non-Resident Aliens and Non-Citizen Spouses
Estate Planning for Non-Resident Aliens and Non-Citizen Spouses Non-Resident Aliens are not treated as advantageously as US citizens under the estate and gift tax rules by the IRS. For a nonresident non-citizen (“nonresident alien” or “NRA”) the applicable estate tax exemption is limited to $60,000, in comparison to $5,340,000 for …
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