Heirs & Beneficiaries

Florida residents may be interested in an upcoming Supreme Court decision expected in June. IRA accounts may be treated differently when it comes to inheritance. In some jurisdictions, such as the 8th Circuit, inherited IRAs are exempt from creditors' claims in...

Many people in Florida who want to leave money to their children or grandchildren may be concerned that the heirs lack the ability to manage it. The benefactor may visualize his or her beneficiaries becoming wasteful or family money ending up in the hands of an...

Residents have probably heard about the family of Martin Luther King Jr. engaging in legal battles over his estate. The latest battle concerns King's Bible and the Nobel Peace Prize he was awarded in 1964. King's daughter, Bernice King, says she thought about placing...

Federal tax law changes that went into effect in Florida and across the nation in 2013 have caused upheaval in the way people navigate through the maze of estate planning. While people traditionally used a bypass trust in order pass their wealth to beneficiaries, they...

One mistake that many Florida residents make in relation to their estate planning is not keeping these documents up-to-date. In particular, it is not uncommon for individuals to forget to update beneficiary designations. When someone opens an investment account or...

Florida residents often are careful with their estate plans in order to ensure that their loved ones are provided for upon death. However, one mistake that many individuals make is to forget to update beneficiaries in an appropriate manner, leaving their assets to go...

A Florida resident who is the non-spouse beneficiary of an IRA should be aware of special federal income tax rules and regulations concerning distributions that apply to these types of accounts. Non-spouse beneficiaries may not treat the IRA as their own, nor can it...

Florida residents who have questions regarding estate planning may be interested in learning about how important beneficiaries are to the entire process. Beneficiaries are important in the process of drawing up wills; however, they are also key as far as other...

In a prior post, we highlighted how younger generations (specifically millennials) in Florida look at estate planning differently than baby boomers. They are not as enamored with passing down and receiving family heirlooms compared to older generations, and they are...

When children or other heirs think about their possible inheritance, it most often elicits a discussion about a positive sum of money, grandmother's diamond ring or some other positive asset. The truth is that this isn't the only type of inheritance an heir might be...