Currently 19 states and the District of Columbia have no state estate taxes. As a result, many states such as Florida that have no state income or estate taxes attract people with large estates who live in other jurisdictions as they plan for the future. Although you...
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 of all ages should be sure that they have a will in place. While many people assume that creating a will or dealing with estate planning is something that will need to be dealt with when they are older, both are actually essential to ensuring that...
Estate planners in Florida and elsewhere have long used bypass trusts as an effective estate planning tool for married couples with children. This vehicle contemplates the transfer of a couple's assets to such a trust upon the death of the first spouse, leaving the...
Florida residents may be interested in learning that several changes to federal estate and gift tax laws go into effect starting in 2014. Some of these changes will allow more money to be passed on to family members and others before federal taxes are imposed. For...
Of all the words associated with estate planning, probate carries one of the most negative connotations. Many Florida residents' views of probate are so gloomy that they set up their wills and estates in order to make every effort to avoid probate. Probate can be an...
Florida residents who think about estate planning often focus on drawing up a will or deciding who will get their assets when they pass on. While these are all important parts of estate planning, people should also think about their digital legacy. Due to the fact...
A recent study indicates that while many senior citizens with terminal illnesses would prefer to enjoy their last days in hospices or in the comfort of their own homes with those they love, an alarming number of them spend their last days in the hospital. Florida...
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...
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