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May 2014 Archives

Death planning an important component in Florida Estate plans

Many Floridians realize, especially as they get older, that they will not live forever. Most probably understand that they need to plan for how their worldly goods will be distributed after they are gone. It is also important, however, that one's estate plan contain some plan for disposal of one's own mortal remains.

Florida court clerks praise new regulation of guardianships

The legislative chair for the Florida Court Clerks & Comptrollers Association has recently penned a piece that shows the organization's support for a recently passed piece of state legislation. Designated House Bill 635, the legislation would allow for clerks of court to more closely scrutinize adult guardianship reports, as well as let them form more robust audits of guardianships. According to the clerks' legislative chair, the move is a "great first step."

Trust can help individuals be charitable

When many people think of estate planning, they assume it has to do with avoiding taxes and ensuring that their family heirs get as much of the estate as possible. While that is often the goal of the planning process, there are other things that may be important to Floridians when they plan their estates. For quite a few people, giving to charitable causes is a way to minimize tax consequences and to feel as if they have made a difference in areas they feel are important.

Estate plan changes often overlooked after divorce

As is being widely reported, the divorce rate amongst the baby boomer generation has remained steady, even as the rate amongst other age groups has declined. Older people whose children are now out on their own are getting divorced, and states with large populations of older people, such as Florida, are affected by the trend. Because divorces are difficult and there are so many considerations, one important aspect that often gets short shrift is a divorced person's retirement and estate plan.

Revocable trusts not just for tax purposes in Florida

When people think of trusts, if they think of them at all, it is often in the context of large sums of money. While it is true that trusts are useful for those with high valued assets, in the estate planning area, they can be a boon to just about any size estate.