Recent Blog Posts
Your Most Common Estate Tax Questions, Explained
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 »
Sudden impact: When a spouse unexpectedly dies
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 »
Estate Planning For Millennials
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 »
Have you had your annual estate plan checkup?
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 »
The Top 3 Things You Need to Know When Planning an Inheritance
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 »
Attorney Nicole Bell is Accepted into Leadership St. Pete’s Class of 2019!
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 »
If you’re driven to transfer a vehicle’s ownership to a trust, know the risks
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 »
How Being Transgender Affects Your Estate Planning
Transitioning is a personal, oftentimes private, process that may seem inconsequential to your financial future. However, there are important legal implications that could be detrimental to you if not all of your legal documents match correctly. While planning your estate, it is critical that you are open and honest with your attorney so they… Read More »
How incomplete nongrantor trusts can help avoid state income taxes
With the federal gift and estate tax exemption at $11.40 million for 2019, people whose estates are below the exemption amount are shifting their focus to income tax reduction. High-income taxpayers — particularly those who live in high-income-tax states — may want to consider incomplete nongrantor trusts, which make it possible to eliminate state taxes… Read More »
Consider an intrafamily loan to cover estate taxes
Sometimes estates that are large enough for estate taxes to be a concern are asset rich but cash poor, without the liquidity needed to pay those taxes. An intrafamily loan is one option. While a life insurance policy can be used to cover taxes and other estate expenses, a benefit of using an intrafamily… Read More »