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Step Up In Basis

The recent passage of the 2017 Tax Cuts and Jobs Act which raised the federal estate tax exemption to approximately $11 million dollars for an individual ($22,000 for married couples). Despite some speculation to the contrary, the “step up in basis” on inherited assets, was preserved and this opened up an opportunity for certain individuals […] Read More

LLC for Medicaid Planning

In a recent round table discussion, a number of couples and individuals were interested in planning for long term medical care.  One of the issues that arose involved a woman who owns a number of rental properties. She asked about the options for titling the properties in her son’s name or, alternatively, using a Trust or […] Read More

Florida Estate Planning for Adult Children

This week’s topic considers the question of Florida estate planning for adult children and some important precautions concerning how to plan your estate effectively when you are primarily concerned with the your adult childrens’ welfare. Sometimes there is doubt about an adult child’s ability to handle an inheritance responsibly. Other times, parents may be too confident in their […] Read More

Estate Planning Courageously

The topic of estate planning in Florida, or wherever your home state may be, is not usually thought of as exciting, and it might even be considered a bit boring depending upon the audience.  However, regardless of the topic, many people are perpetually bored with themselves or their life, and you might say this is a […] Read More

Irrevocable Medicaid Trusts

Today’s topic concerns Irrevocable Medicaid Trust pros and cons and also focuses on some costly common misconceptions about how these trusts are used and their benefits under new vs. old rules. Brief Review of Florida Medicaid Planning  Irrevocable Medicaid Trusts (also referred to as Medicaid Asset Protection Trusts) are used as a tool for Florida Medicaid […] Read More

Dynasty Trust Small Estate Florida

There is a big difference between the type of estate planning that is intended only to avoid probate in Florida and what we call “dynasty trust” estate planning.  While both of these approaches utilize a Florida revocable living trust; however, they direct the outcome of your estate plan in very different ways. Understanding the advantages of […] Read More

Estate Planning After Divorce in Florida

Today’s topic will impact around 50% of today’s married couples according to commonly accepted statistics.  However, it is encouraging to note that the divorce rate may be decreasing, at least according to the Institute of Family Studies.  For our purposes, it is important to know that few things can demolish an estate plan in Florida more […] Read More

estate planning before a crisis

I personally draw many analogies and life lessons from surfing and being in the ocean. I believe that nature tells us so much about life if we only care to listen. Does it make sense to plan ahead for the big storm swells of life while seas are relatively calm?  Unfortunately many people wait until the […] Read More

Elder Law Asset Protection

Self-help Guru Stephen Covey writes a lot in his book “The Seven Habits of Highly Effective People” about how “interdependence” is vital and involves working in a “synergistic way” with the world around us. Nowhere is this concept more important than creating synergy in your Florida estate plan by integrating elder law asset protection, and […] Read More

3 Easy Florida Estate Planning Steps

When it comes to trust and estate planning in Florida, there are some basic areas of planning that can help avoid unnecessary confusion and expense for loved ones.  Some of these concerns can be addressed in 3 easy Florida estate planning steps that you can take with little to no expense. These simple steps can address a […] Read More