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Estate Planning › Florida

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Proskauer Rose LLP

Wealth Management Update - September 2024

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The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more

Fleurinord Law PLLC

How Irrevocable Trusts Can Protect Assets from Bankruptcy & Divorce in Florida

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In the complex world of estate planning, irrevocable trusts offer a robust mechanism for protecting assets from various threats, including bankruptcy and divorce. This article delves into the specific protections offered by...more

Fleurinord Law PLLC

The Importance of Estate Planning for LGBTQ+ Couples in Texas and Florida

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The landscape of marriage in the United States has transformed significantly, particularly for same-sex couples, following pivotal legal battles that sought to recognize their right to marry. Understanding the nuances of...more

Fleurinord Law PLLC

Navigating the Twists and Turns of Aretha Franklin’s Estate 5 Years Later: Lessons Under Texas and Florida State Laws

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Aretha Franklin, the legendary Queen of Soul, passed away on August 16, 2018 from pancreatic cancer at the age of 76 in Detroit, Michigan.  She left a legacy marked by her incomparable music and talent, and a $6 million...more

Bilzin Sumberg

Take Care When Utilizing Tax Reimbursement Clauses in Trusts…Even If You Are a Cross-Border Practitioner

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Until recently, there was a fair amount of comfort amongst practitioners that, when structured correctly, utilizing a tax reimbursement clause for a grantor trust did not produce any negative U.S. gift or estate tax results....more

DarrowEverett LLP

Time to Step Up? Florida’s Community Property Trust Act Worth A Look

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Unknown to many Floridians, Florida enacted the Community Property Trust Act which went into effect on July 1, 2021, and established the ability to convert non-community property into community property. The community...more

Burns & Levinson LLP

Escaping the Snow: Estate Planning Considerations for Moving to the Sunshine State

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Despite the unusual rain this year, New England is typically a great place to be in the summer. However, once the cold air moves in, countless people escape the harsh winters of New England by living half of the year in warm,...more

Bilzin Sumberg

Summertime Trust Changes: Florida’s Newest Trust Laws Effective as of July 1, 2022 Includes SLAT-Friendly Legislation

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Florida’s newest trust laws taking effect this summer are turning up the heat in what is already a hot estate planning scene. With the federal estate and gift tax exemption for U.S. citizens and U.S. domiciliaries at a...more

Bilzin Sumberg

Enactment of FUDTA and CPTA Change the Rules on Florida Trusts

Bilzin Sumberg on

On June 29, 2021, Florida enacted the Florida Uniform Directed Trust Act ("FUDTA") and the Community Property Trust Act ("CPTA"). Florida will now have a more robust law whereby “trust directors” can be granted powers in a...more

Lowndes

Mental Capacity: An Easy Challenge Or A Tough Road?

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As the population in Florida continues to age, litigation stemming from allegations related to lack of capacity is on the rise. Family members or other beneficiaries looking to challenge legal documents often gravitate...more

Fox Rothschild LLP

Marriage And Asset Protection – Is TBE For You?

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My November, December, and February posts, discussed details of homestead protection in Florida including requirements, benefits and pitfalls. If you are married, another asset protection and estate planning tool available...more

Carlton Fields

Update Beneficiary Designations After Divorce or Annulment

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On July 1, 2015, the Florida Fourth District Court of Appeal held, with a few exceptions, upon entry of a final judgment of dissolution or annulment, any provision of a will that “affects” a former spouse is void under...more

Lowndes

4 Must-Have Documents When Planning Your Estate

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President Abraham Lincoln. Civil rights activist Martin Luther King, Jr. Rock guitarist Jimi Hendrix. Eccentric billionaire Howard Hughes. Singer/songwriter Bob Marley. NFL quarterback Steve McNair. Singer/songwriter Prince. ...more

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