Category Archives: Estate Planning
Combining a Testamentary Trust With a Pour-Over Will in Tampa
While researching your estate planning options in Tampa, you might have come across two concepts: Testamentary trusts and pour-over Wills. Both of these estate planning strategies offer their own unique benefits, but you can also combine both into a single strategy. How would this work in practice, and why would you want to create… Read More »
Is Life Insurance a Legitimate Estate Planning Strategy in Tampa?
When approaching estate planning in Tampa, it makes sense to consider all potential possibilities. You may have heard about other Florida residents using life insurance as a retirement or estate planning tool – but how does this strategy actually work? Is it a viable choice? Should you consider using a life insurance policy for… Read More »
What Happens if My Executor Gets Dementia in Tampa?
An executor plays an important role in the estate planning process. When most people select executors for their Wills in Tampa, they choose individuals who are likely to act in a calculated, efficient manner. These are often individuals with solid financial skills. They may also have a reputation for being reliable. But what happens… Read More »
Healthcare Power of Attorney vs. Advanced Directive In Tampa
Healthcare decisions represent an important aspect of an effective estate plan in Tampa. Although there are numerous options when it comes to healthcare planning, two of the most popular options include powers of attorney and advance directives. It is important to understand the difference between these two estate planning tools. An experienced estate planning… Read More »
IRS Ruling 2023-2: Why Your Children Could Pay Capital Gains Taxes in Tampa
An experienced estate planning lawyer in Tampa will keep you informed of any tax changes that could affect your family. One recent change is IRS Ruling 2023-2, which went into effect in 2023. This new rule changes the way assets are inherited, and it means your children could be more likely to pay capital… Read More »
Should You Try a “DIY Estate Plan” in Tampa?
New developments in technology have caused many to consider alternative options for estate planning in Tampa. There is a tendency among some residents to overestimate the potential of artificial intelligence, and you might assume that you can create an estate plan with a few clicks of your mouse. But is a “DIY estate plan”… Read More »
Florida Estate Planning for Canadian Snowbirds
According to various reports, Canadians own 500,000 homes across Florida. They are the largest foreign buyers of Florida real estate by a considerable margin, and this should not come as a huge surprise when you consider the freezing temperatures of the True North. Many of these Canadians are self-professed “snowbirds” who move down south… Read More »
What Is a Trustee in Tampa?
When you begin to learn about estate planning in Tampa, you may encounter many new words and phrases. While some families might never have to worry about trusts, others could benefit immensely from their various benefits. After researching trusts, you may have come across the word “trustee.” What exactly is a trustee? How do… Read More »
Tips for Creating an Estate Plan Early in Life
While many assume estate planning is reserved for seniors, others understand that it is never too early to get started with this process. Even immediately after becoming a legal adult, there are certain benefits to creating a simple Will or power of attorney. That being said, younger individuals will approach estate planning with unique… Read More »
Will Trump Extend the Federal Estate Tax Exemption?
Prior to the 2024 Presidential Election, there was much talk about the “sunsetting” of the federal estate and gift tax exemption. Initially enacted in 2017 as part of the Tax Cuts and Jobs Act, this law considerably reduced estate tax obligations for high-net-worth families across the country. Now that President Trump has won, the… Read More »