Purchasing a large asset: Perhaps you are a newlywed couple just returned from your honeymoon? Upon return, your one-bedroom apartment suddenly feels constricting. Or maybe you are a family of four and counting? You realize with another child on the way that you need more space to accommodate everyone’s needs. …
Read MoreReviewing Your Estate Plan: Marriage
Recently converted your engagement to a marriage? Make sure you consider revisiting your estate plan before or after the wedding. If you already had an estate plan prior to getting married, it most likely does not account for your spouse. After the celebrations end, it is wise to sit down …
Read MoreReviewing Your Estate Plan: Birth of a Child
Last week we discussed occasions when you should review your estate trust or estate plan. In the next few weeks, we are highlighting some of the major milestones in one’s life that are great moments to review. One of the first occasions to review your estate plan is after the …
Read MoreWhen Should You Review Your Estate Plan?
When should you review your estate plan? The best answer is frequently. After you complete your estate planning, it is important to remember not to neglect it. Life changes, and therefore so may your situation. We previously spoke about the importance of estate planning citing an example of building a …
Read MoreUnclaimed Property: How Can You Claim?
In previous social media posts, we discussed Florida unclaimed property and directed those interested to a segment airing on local news. We also promised to highlight key points on claiming property, which is our focus on this week’s Workshop. Often times, we do not know about unclaimed property we may …
Read MorePlan for the Care of Your Pets
Recent studies have uncovered new health issues pets experience as a result of living longer. A specific example, dogs and cats 15 years and older can often experience animal dementia. As we noted in last week’s post, it is important to plan ahead for your estate planning. This includes considering …
Read MoreWhy You Should Plan Ahead
In our previous post we discussed the importance of a will and some of its benefits. This week we discuss why you should plan ahead for estate planning. Prior to preparing your planning, you should consider the reasons why you want to plan ahead. As we have previously noted, proper …
Read MoreThe Importance of Wills and Trusts
Learning about Wills and Trusts A will is a legal document, which if executed properly, states how your estate will be distributed, who the heirs are, and who is in charge of administering the estate. It does not begin to function until after the person has passed away. It also …
Read MoreBenefits of the Annual Gift Tax Exclusion & How to Use it Correctly
One of the biggest planning mistakes and oversights we see is not using the annual gift tax exclusion by clients to reduce their taxable estates upon death. The annual gift tax exclusion is a $14,000 gift of cash or property that can be made to someone without either party paying …
Read MoreDo I Have to Pay Taxes on my Inheritance?
One of the most frequently asked questions by clients is if they have to pay estate taxes on their inheritance. A lot of clients who need to go through the probate process to receive their inheritance ask this question because a friend or family member told them they will have …
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