Why a Will is Important for Business Owners

Author Archives: Phillip A. Baumann

Why a Will is Important for Business Owners

While just about anyone can benefit from creating a last will and testament, this process is especially important if you are a business owner. Your will allows you to state your desires in a legally binding way regarding who you want to inherit your assets. If you do not leave behind a will, state law […]

How You Can Modify an Irrevocable Trust

You can likely change an irrevocable trust that no longer makes sense for your situation, whether economically or practically. Common reasons people choose to modify an irrevocable trust include changing beneficiaries, changing trust protectors, changing governing laws, moving the trust to a new state, changing the trustee and minimizing income or estate taxes. There are […]

Why Do People Put Off Estate Planning?

Despite the importance of estate planning for everything from passing down assets to arranging end-of-life care, there’s a significant number of Americans who put off their estate planning as long as possible. Why do so many people avoid estate planning, even if they know how important it is? The following are a few of the […]

Frequently Asked Questions About Do Not Resuscitate Orders in Florida

A Do Not Resuscitate Order (DNRO) is a form the Florida Department of Health uses when identifying people who do not wish to be resuscitated if they suffer an event of respiratory or cardiac arrest. Below are some answers to frequently asked questions we receive regarding the form: Q: Who should use a DNRO? DNROs […]

Simplified Probate Procedures in Florida

In Florida, it’s possible for small estates to take a shortcut through the probate process, making it easier for people to transfer property left by a deceased person to his or her beneficiary. This shortcut could even allow you to transfer large amounts of property, saving you a great deal of time and money. To […]

Arranging Financial Power of Attorney in Florida

If you suddenly find yourself ill or injured and unable to manage your own finances, you will need another person who can come in and assist you. A person to whom you grant financial power of attorney can pay your bills, collect benefits, manage your investments and handle a variety of other financial matters on […]

What are the Regulations for Creating a Will in Florida?

A last will and testament allows you to designate the beneficiaries who will inherit your property upon your passing. If you die without a will, your property will be distributed according to the laws of intestate succession, in which the state handles the distribution of your assets and property. The same could be true if […]

Estate Planning Tips for Same-Sex Couples in Florida

Same-sex couples often have circumstances that require special consideration when it comes to estate planning. Below are a few tips to help same-sex couples make sure they have an estate plan that covers all their needs: Don’t stop at a will: A last will and testament is a necessity, but it is not an end […]

Are Assets in a Living Trust Taxable?

One of the many reasons people create living trusts is to maximize their assets’ value by avoiding taxation. However, not all living trusts will protect your assets in these situations, so it is important to understand the differences between a revocable and irrevocable trust. Below is quick overview of the main categories of living trusts […]

Florida Governor Rick Scott Vetoes Electronic Wills Act

The Electronic Wills Act for Florida was slated to go into effect on July 1. However, Governor Rick Scott vetoed the bill July 26, days before it would have been made law. The act would have allowed for the use of remote technology to help in notarizing and witnessing a last will and testament. It […]