free consultation Call 561-328-0733
Attentive, Responsive Client Services Throughout Florida

February 2013 Archives

Late Lakers' owner kept team in the family with a trust

Basketball fans in West Palm Beach have no doubt read or heard some of the recent tributes to Jerry Buss. The colorful owner of the Los Angeles Lakers died recently at the age of 80. Buss rose from very humble beginnings to pursue careers in aerospace and real estate before buying the Lakers and helping to transform the team into one of the most successful and valuable in the NBA. The many athletes and admirers who have eulogized Buss in recent days have praised his skills as an owner.

Dynasty trusts can sustain Florida legacies

With all the uncertainty surrounding the lead up to the "fiscal cliff" at the turn of the year followed by the welcome extension of gift tax portability, financial advisors and estate planning professionals have spent a lot of time reexamining existing trust arrangements and looking forward to new opportunities. West Palm Beach readers who have followed recent discussions about some of the concerns and potential benefits arising from the fiscal cliff package may also be wondering whether they should be considering new approaches toward managing wealth for future generations.

Time to revisit Florida trusts

Readers who followed a recent discussion about the impact of fiscal cliff legislation on the federal gift tax exemption may already be taking a second look at the continuing validity of certain types of their estate plans. West Palm Beach residents who employed credit shelter trusts or generation skipping trusts may want to consider consulting with a professional to assess whether those instruments will continue to serve their estate planning goals now that the portability of the federal gift tax exemption has been made permanent.

Lottery winner's suspicious death leads to probate dispute

Wrangling over the probate estate of an apparently murdered lottery winner may give West Palm Beach residents a good illustration of why advance estate planning can be so critically important. Even as police continue to investigate the suspicious circumstances of the man's death, his widowed wife has had to battle through probate litigation on top of accusations of guilt from her deceased husband's siblings just to gain appointment as executor of her husband's estate.