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Guardianship

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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Pets

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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TPlanning

Five Florida Tax Based Estate Planning Tips

By Legacy Protection, LLP |

You’ve worked hard to build wealth. When it comes to your estate planning, certain tax moves could really benefit your estate. The Tax Cuts and Jobs Act, signed into law on December 22, 2017 changed the game when it comes to tax planning. Some of these changes are temporary and some are permanent. The… Read More »

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Estate planning for single parents requires special considerations

By Legacy Protection, LLP |

Here’s a fast fact: The percentage of U.S. children who live with an unmarried parent has jumped from 13% in 1968 to 32% in 2017, according to Pew Research Center’s most recent poll. While estate planning for single parents is similar to estate planning for families with two parents, when only one parent is… Read More »

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College

College financing may be an integral part of your estate plan

By Legacy Protection, LLP |

The staggering cost of college makes it critical for families to plan carefully for this major expense, and in many cases grandparents want to play a role. As you examine the many financing options for your grandchildren, be sure to consider their impact on your estate plan. Make direct payments A simple, but effective,… Read More »

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Using a Medicaid Trust As Asset Protection From Nursing Homes

By Legacy Protection, LLP |

If you want to protect your assets from being used to pay for potential nursing home cost in the future, the key is to start planning today. While you could address your long-term care costs with a tax-qualified LTC insurance policy, those can be pricey and don’t match everyone’s needs. However, there is a… Read More »

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