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Monthly Archives: May 2019

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Do I Need To Update My Estate Plans When I Move to Florida?

By Legacy Protection, LLP |

If you’re moving to Florida or considering a move to Florida, you may be wondering if you will need to update your estate planning documents after you move. Maybe you haven’t put together an estate plan, but the thought of your upcoming move is spurring you on to consider putting one together. Whatever your… Read More »

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How to Create an Advance Directives in Florida

By Legacy Protection, LLP |

Do you have an advance directive in place? According to a Reuters report of nearly 800,000 Americans, over 37% of Americans have no advance directives for their end-of-life care if they become incapacitated or seriously ill. There are many reasons why having an advance directive in place should you become incapacitated. Advance directives are… Read More »

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Leave your mark with a dynasty trust

By Legacy Protection, LLP |

If a prime objective of your estate plan is to leave a lasting legacy, a dynasty trust may be the right estate planning vehicle for you. And, thanks to the substantially increased generation-skipping transfer (GST) tax exemption amount established by the Tax Cuts and Jobs Act, a dynasty trust is more appealing than ever…. Read More »

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Three Things You Need to Know About Florida Incapacity Proceedings

By Legacy Protection, LLP |

In situations where someone becomes unable to care for themselves due to mental, physical or other issues, the state of Florida may need to appoint a legal guardian. If you’re involved in a possible guardianship situation, it is helpful to know the types of guardianship available in Florida and the correlating legal procedures. There… Read More »

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Beware if your estate plan leaves specific assets to specific heirs

By Legacy Protection, LLP |

Planning your estate around specific assets is risky and, in most cases, should be avoided. If you leave specific assets — such as homes, cars or stock — to specific people, you may inadvertently disinherit them. Illustrating the problem Let’s say Debbie has three children — Abbie, Mary Kate and Lizzie — and wishes… Read More »

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Three Ways to Protect Yourself from an Inheritance Dispute in Florida

By Legacy Protection, LLP |

You’ve worked hard your entire life. You deserve to have your estate distributed the way you see fit after your death. By spending some time and energy clarifying your intentions for your estate after your death, you will be on your way to avoiding common Florida inheritance disputes.  Create Your Estate Plan  Did you… Read More »

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Make health care decisions while you’re healthy

By Legacy Protection, LLP |

Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. This includes having a plan for making critical medical decisions in the event you’re unable to make them yourself. And, as with other aspects of your estate plan, the time to act… Read More »

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Should Your Pet Have a Trust?

By Legacy Protection, LLP |

In recent years, an increasing number of people are leaving some (or even all) of their estates to their pets upon their deaths. When asked if pet owners value their pets as much as their children in a recent survey, 81% of pet owners said yes. In 2010, a millionaire named Gail Posner set… Read More »

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Does your estate plan include a formula funding clause?

By Legacy Protection, LLP |

The gift and estate tax exemption is higher than it’s ever been, thanks to the Tax Cuts and Jobs Act (TCJA), which temporarily doubled the exemption to an inflation-adjusted $10 million ($20 million for married couples who design their estate plans properly). This year, the exemption amount is $11.4 million ($22.8 million for married couples). If you’re married… Read More »

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