Many clients are very confused about estate planning. One reason for this has been uncertainty about estate tax and the so-called estate tax “cliff.” Clients, especially those with a high net worth, have expressed concern about the tax consequences. Fortunately, with the correct planning and recent clarity on the federal […]
Category: Estate Planning
In Florida estate and trust administration, it is not uncommon for the trustee to also be a beneficiary of the same trust. At first blush, this can seem like no big deal or even logical. After all, trustees are typically family members, and in many cases, those family members are […]
In Florida, when a loved one dies, the person they name as their personal representative to administer their estate assumes a position of trust, authority, and responsibility. And for most of those individuals, it is a role they take very seriously and do their best to honor the decedent’s wishes […]
Florida is marketed to out-of-state residents as a tax-friendly paradise. The Sunshine State has no state income tax and no state estate or inheritance tax. In fact, Florida’s exclusion from federal estate tax is part of the Uniform Relief from Death Tax Act. But even if a state did not have […]