As Halloween approaches, ghosts and skeletons may be on our minds, but some of the most unsettling surprises are not found in haunted houses. Instead, they may be lurking in estate planning documents that have gone untouched for years. While establishing an estate plan is an important step toward protecting…
Amendment 3 is one of three proposed constitutional amendments Florida voters will consider this November and concerns Florida’s long-standing homestead property-tax exemption. The property-tax exemption is enshrined in the Florida Constitution, and the proposed changes raise important questions for current Florida homeowners, prospective residents, and those considering their property ownership…
Investors who currently hold interests in Qualified Opportunity Funds (“QOFs”) should consider a potential year-end planning opportunity: selling their QOF investment before December 31, 2026, and reinvesting in 2027. Done correctly, this may postpone tax for up to another five years after the new investment. However, this tax strategy comes…
Florida probate cases are different from most civil proceedings. In a civil lawsuit, there is usually one final judgment that ends the case. In Florida probate proceedings, however, there can be many separate rulings over months or years that impact the course of the probate and the rights of beneficiaries.…
The Issue New York City has a new tax aimed squarely at high-value second homes. New York’s new Pied-à-Terre Tax (“PAT Tax”) is imposed on residential real property owners in New York City who use such property as a secondary residence or an investment.[1] It reaches one-to-three-family homes, residential condominium…
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