Category Archives: Estate Planning
How to Notify Trust Beneficiaries as an Estate Administrator
If you are serving as the successor trustee of a living trust, one of your primary responsibilities is to notify the trust beneficiaries of the passing of the settlor, the person who created the trust. In a simple letter to the beneficiaries, you must communicate the following basic facts: The living trust has become irrevocable […]
How Do Florida Courts Appoint Guardians for Incapacitated People?
A guardian is a legal decision maker appointed by the court to make financial or other personal decisions on behalf of a ward. There are several circumstances in which a guardian may be needed: A minor’s parents are unable or unavailable to care for the child An adult has been incapacitated due to injury or […]
Key Estate Planning Tips for the Elderly
People of all ages can benefit from some thorough estate planning, but it becomes especially important to create and adjust your estate plan as you reach old age. You need to take care of your estate plan before a situation arises in which you are unable to handle your own affairs. Below are a few […]
How a Trust Can Provide Savings on Capital Gains Taxes
In recent years, the tax rates on long-term capital gains have ranged from 25 to 33 percent when combining federal, state and local rates. While the relatively new Tax Cuts and Jobs Act will offer some changes to capital gains taxes, it’s still important to know how you can limit the effect those taxes have […]
Handling the Debts of a Deceased Loved One
The passing of a parent or other loved one is a difficult time. Not only is it an emotionally trying period of your life, but it will also pose some logistical challenges that you must overcome. One of the more complicated aspects of managing the estate of a deceased loved one is paying off all […]
Codicils Allow for Small Changes to a Will Without a Complete Overhaul
Do you need to make minor changes to a will? You can add an amendment called a “codicil” without having to revamp the entire document. This can be an ideal way to revise a will when you have simple changes, such as changing the name of an executor or swapping out any other provisions. In […]
What’s the Difference Between a Healthcare Surrogate Designation and a Living Will?
A healthcare surrogate designation and a living will are two different kinds of advance directives you can include in your estate plan. But while the functions they serve are similar in a sense, the ways they operate are quite different. The following is an overview of each to give you an idea of what they […]
Challenging a Will Comes with Certain Risks
Can you challenge the will of a recently deceased person? The answer might be yes, but even when it is a viable path forward, you should be aware that there are certain risks that come with doing so. To challenge a will, you must show that there is something wrong with the will itself or […]
Important Tips for Including Stepchildren in Your Will
Unless you have legally adopted them, your stepchildren do not have any legal right to an inheritance from you. Therefore, to make sure your stepchildren inherit part of your estate, you should name them in your will or trust documents. Below you will find some information about how you can manage your stepchildren and their […]
Can Unmarried Couples Engage in Estate Planning?
Estate planning for couples is not limited to those who are legally married. If you have a partner with whom you are very close, you should still prioritize estate planning to ensure he or she inherits your possessions after your death. Otherwise, if you pass away without a valid will, the state’s laws will dictate […]