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Monthly Archives: February 2019

PetTrust

No, it’s not unusual to include your pet in your estate plan

By Legacy Protection, LLP |

An unexpected outcome of the recent death of designer Karl Lagerfeld is that the topic of estate planning for pets has been highlighted. Lagerfeld’s beloved cat, Choupette, played a major role in his brand. The feline was the subject of a coffee table book and has a large Instagram following. Before his death, Lagerfeld… Read More »

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EPlan1

How Premarital Agreements Affect Estate Planning

By Legacy Protection, LLP |

While marriage stands for the promise of spending the rest of your life with your partner, there is the unfortunate reality that half of all marriages end in divorce. Living in Florida increases those odds, as the Centers for Disease Control and Prevention reports it has the seventh-highest divorce rate in the nation. On… Read More »

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Charity

Have you properly substantiated your 2018 charitable gifts?

By Legacy Protection, LLP |

Donating to charity is a key estate planning strategy for many people. It reduces the size of your taxable estate and it can help you leave a lasting legacy with organizations you care about. The benefit of making such gifts during life rather than at death is that you may be eligible for an… Read More »

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TPlanning

What you need to know about filing gift and estate tax returns

By Legacy Protection, LLP |

Have you made substantial gifts of wealth to family members? Or are you the executor of the estate of a loved one who died recently? If so, you need to know whether you must file a gift or estate tax return. Filing a gift tax return Generally, a federal gift tax return (Form 709)… Read More »

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EstPlan6

Disinheriting Your Family: Is It Possible in Florida?

By Legacy Protection, LLP |

The answer to this question depends on a variety of factors. Regardless of your reasoning, Florida allows you to have control over what you want to do with your money…some of the time. If you are thinking about disinheriting a member of your family in your will, it’s best to get the help from… Read More »

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EstatePlanning5

Building an on-off switch into your estate plan

By Legacy Protection, LLP |

The right estate planning strategy for you likely is the one that will produce the greatest tax savings for your family. Unfortunately, there can be tension between strategies that save estate tax and ones that save income tax. This is especially true now that the Tax Cuts and Jobs Act nearly doubled the gift… Read More »

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EstPlan4

Wills Do a Lot, But They Won’t Do This

By Legacy Protection, LLP |

With estate planning, one of the biggest things you’ve probably been told is to have a will. They are extremely useful documents that everyone should have drawn up, regardless of age, marital status, or financial status. Wills are simply a way to provide direction to distribute assets after your death. If you have young… Read More »

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