Posted in Asset Protection,Probate & Trust Administration,Wills, Trusts & Estate Planning

What is a Will?

A Last Will and Testament (often just called a “will”) is a written direction controlling the disposition of property at death. The laws of each state set the formal requirements for a legal will. In Florida:

• The maker of the will (called the testator) must be at least 18 years old.
• The testator must be of sound mind at the time the will is signed.
• The will must be written.
• The will must be witnessed and notarized in the special manner provided by law.
• It is necessary to follow exactly the formalities required for the execution of a will.
• To be effective, the will must be proved in and allowed by the probate court.

Posted in Asset Protection,Probate & Trust Administration,Tax Law & IRS Defense,Wills, Trusts & Estate Planning

The SECURE Act, or the “Setting Every Community Up for Retirement Enhancement Act”, was recently signed into law on December 20, 2019 without much notice.  It took effect on January 1, 2020 and significantly changed the landscape of retirement planning.  Here are some of the major changes created by the new law:

Posted in Asset Protection,Probate & Trust Administration,Wills, Trusts & Estate Planning

Florida is leading the way in estate planning as a new bill is revolutionizing the way Floridians execute their last will and testaments. The Florida Legislature passed House Bill 409, which allows for electronic wills and electronic signatures starting January 1, 2020. Like a traditional will, an electronic will must be signed by the testator in the presence of two witnesses.  An electronic signature is defined as “an electronic mark visibly manifested in a record as a signature and executed or adopted by a person with the intent to sign the record.”

Posted in Asset Protection,Probate & Trust Administration,Wills, Trusts & Estate Planning

Baby Boomers who have worked hard to manage their finances have children who are of the age to either carry on their financial success and hard work or lose it all. The best gift a parent can give to themselves and their child is to help their children organize and manage their affairs.

Posted in Asset Protection,Probate & Trust Administration,Wills, Trusts & Estate Planning

Let’s start off with what happens if you do not have a Will. If you die without a will (this is called dying “intestate”), your property will be distributed to your heirs according to a formula fixed by law.

Posted in Asset Protection,Probate & Trust Administration,Tax Law & IRS Defense,Wills, Trusts & Estate Planning

It is recommended to periodically review your estate plan to determine if there are new planning opportunities of which you can take advantage.  Below are three tips as you move through 2019:

Posted in Asset Protection,Probate & Trust Administration,Wills, Trusts & Estate Planning

With the new year around the corner, it’s time to start thinking about what you have been avoiding and go ahead and tackle it. Estate planning is typically one of those things we avoid because it is uncomfortable. Experience practicing in estate planning tells me that there are very few things in life that are certain, but we all know that one day our passing is one of those things.  So, what better time to begin your estate planning, than at a point where the possibility seems distant.

Here are just 5 reasons to stop putting it off:

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Posted in Asset Protection,Probate & Trust Administration,Wills, Trusts & Estate Planning

Many people have either a fear of probate or confusion about it.  However, probate generally does not deserve the bad feelings its name evokes.  On one hand, sometimes the probate process is beneficial, whereas on the other hand, sometimes it may be more efficient and cost-effective to create a plan to avoid probate.
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