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Monthly Archives: January 2019

EstPlan11

An ESOP can benefit a business owner’s retirement and estate plans

By Legacy Protection, LLP |

Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity with employees. But did you know that an ESOP can be a powerful estate planning tool? It can help you address several planning challenges, including lack of liquidity and the need to provide for… Read More »

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Estate Planning Tips for Beneficiaries With Special Needs

By Legacy Protection, LLP |

When you or a loved one becomes disabled, financial concerns are amplified. It can be difficult to find time to plan finances, manage businesses, and pay bills. Matters are made even more complicated when people want to leave large sums of money to beneficiaries with special needs, because it could affect their government benefits,… Read More »

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EstatePlan5

Hastily choosing an executor can lead to problems after your death

By Legacy Protection, LLP |

Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought. Given an executor’s many responsibilities and complex tasks, it pays to put some thought into the selection. Job description An executor’s duties may include:… Read More »

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Your Most Common Estate Tax Questions, Explained

By Legacy Protection, LLP |

2019 is officially underway, and with a new year comes new financial change. 2019 brings several changes to estate and trust income brackets, as well as exemption amounts for estate, gift and generation-skipping transfer (GST) taxes. You may already know that tax brackets have changed, and are wondering how this might affect your estate… Read More »

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Sudden impact: When a spouse unexpectedly dies

By Legacy Protection, LLP |

What if the unthinkable happens and your spouse dies unexpectedly? Would you be prepared to cope emotionally and financially? As the surviving spouse, you’ll face several tasks and challenges. First steps first By no means complete, the following are areas that will need to be addressed: Death certificates. One of the first things to… Read More »

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Estate Planning For Millennials

By Legacy Protection, LLP |

Whether you’re 23 or 36, it’s never too early or too late to start planning your estate. Many millennials are most likely now out of college and entering the workforce, dealing with many unfamiliar financial planning vehicles like 401k plans, pensions, and stocks. But, your estate is much more than that. It’s planning out… Read More »

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EstatePlanning3

Have you had your annual estate plan checkup?

By Legacy Protection, LLP |

An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan. 2019 vs. 2018 amounts Here are a few key figures for 2018 and 2019: Lifetime gift and estate tax… Read More »

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The Top 3 Things You Need to Know When Planning an Inheritance

By Legacy Protection, LLP |

Planning your estate can seem like an overwhelming task.  The thought of planning for your children after your death is daunting in its own right. However, there are some big steps you can take right now to make sure your family receives the maximum benefits from your estate in the future. Avoiding or Reducing… Read More »

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Attorney Nicole Bell is Accepted into Leadership St. Pete’s Class of 2019!

By Legacy Protection, LLP |

Please help us congratulate our very own Attorney Nicole Bell with her recent acceptance into Leadership St. Pete’s Class of 2019! About the Leadership St. Pete® Program As one of the oldest leadership programs in America and a division of the St. Petersburg Area Chamber of Commerce, Leadership St. Pete® seeks to identify, recruit and… Read More »

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EstPlan8

If you’re driven to transfer a vehicle’s ownership to a trust, know the risks

By Legacy Protection, LLP |

A revocable trust — often referred to as a “living trust” — can help ensure smooth management of your assets during life and avoid probate at death. And you may know that the trust isn’t effective unless you “fund” it — that is, transfer ownership of your assets to the trust. But what about… Read More »

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