Tag Archives: estate planning
Three Estate Planning Mistakes You Should Avoid
Planning your estate takes courage and commitment. Many people who labor over setting up an estate plan fear the cost, the hassle and the prospect of death itself. Yet estate planning doesn’t have to be that anxiety-inducing task you’ve been meaning to get around to but keep putting off. At the same time, you shouldn’t […]
Pet Trusts: Taking Care of Your Pet After You Die
If you have a will, when was the last time you updated it? While your last will may contain provisions about your children, spouse, siblings and other relatives, have you thought about what will happen to your beloved pet if something should happen to you? Many individuals who enter the estate planning process have thought […]
Estate Planning Lessons Learned from Casey Kasem
If you’ve been following the latest celebrity news, you may be curious about what’s going on with Casey Kasem. Kasem was a well-known music and radio personality and actor who, among other things, hosted America’s Top 40 music countdown. At 82 years old, the icon was suffering from Lewy body dementia — a condition that […]
The Last Will of L’Wren Scott
In March of 2014, New York fashion designer L’Wren Scott was found dead. After a successful modeling career, Ms. Scott turned to the world of style and design. Then in 2001, she began a long-term relationship with Rolling Stones front man Mick Jagger. Her suicide came shortly after tabloid reports surfaced about her relationship with […]
What Dying Intestate Means and Why You Want to Avoid It
Dying intestate refers to dying without a will. Because no legal documents exist to administer the estate, the court abides by state intestacy laws and must appoint a representative to administer the estate, whom you have not chosen. When an individual dies intestate, Florida Intestate Succession statutes dictate which family members inherit assets and the […]
Does Where You Live Make Much Difference with Estate Planning?
Where you live can make a considerable difference in whether you pay estate or inheritance taxes after a loved one dies. The following example clarifies how this is true. Let’s say your elderly mother is failing physically and in an effort to make things easier for everyone, she decides to move from her Florida residence […]
Do You and Your Elderly Parents Want to Avoid a Guardianship?
Yes — avoid a guardianship if at all possible. A number of people today suffer from dementia in their elder years. Sometimes families don’t realize the extent of their parents’ memory loss and its legal implications. Family members often live in other states or visit infrequently. By the time they discover their parents’ dementia, the […]
A Look at Phillip Seymour Hoffman’s Estate Planning
Celebrities are generally in the limelight, and consequently, we can often learn valuable lessons from their errors. As far as learning from mistakes, estate planning is no different than many other areas of life. According to the Forbes, Phillip Seymour Hoffman’s estate is worth $35 million. Even so, the most current version of Hoffman’s will, […]
The Perfect Trust (For You)
Revocable living trusts, irrevocable trusts, charitable remainder trusts, charitable lead trusts, special needs trusts, education trusts, testamentary trusts, trusts with tax provisions and trusts without. Trusts come in all shapes and sizes and can do most anything you want them to. The key is to determine exactly what you need a trust for and to […]
Leaving an Inheritance for Your Children
Setting up a will when you have young children can pose a number of complications. Because they are unable to manage assets on their own, you will need to figure out how to best care for them until they are old enough to assume financial control. For many people, they avoid this issue by simply […]