Category: Estate Planning

Trusts are perhaps the most dynamic tool in the estate planner’s toolbox. Trusts have a variety of benefits that include establishing rules with respect to the management and disposition of your assets and the potential provision of significant tax savings.  There are many types of trusts, and this blog post…

It is snowbird season in Florida, the time of year when residents of northern states migrate to the Sunshine State to escape the harsh winters.  Florida has long been a popular destination for snowbirds wanting to spend the winters in a warmer climate, and eventually to relocate permanently.  Those who…

There are three separate aspects of homestead protections under Florida law. These include: asset protection, reduction(s) in property taxes, and safeguards for the surviving spouse and/or minor children of the deceased owner of a Florida homestead. Homestead: Asset Protection Homestead property—defined as one-half acre if located within a municipality, or…

The IRS has just released inflation-adjusted tax numbers for 2023.  Among the most notable adjustments are: An increase in the gift, estate and GST tax exemptions amounts from $12,060,000 to $12,920,000. An increase in the gift tax annual exclusion amount from $16,000 to $17,000. An increase in the starting point…

Estate planning can be boiled down to two main topics: (1) asset disposition, and (2) naming (or nominating) fiduciaries.  For most of our clients, the asset disposition part—how you want your assets to pass on death—is simple.  Selecting who will be the fiduciaries—those with responsibilities and decision making upon your…