Florida values elders and considers them vital members of society who deserve respect. However, the older people get, the more vulnerable they can be. They may experience maltreatment in various forms. Fortunately, state law has provisions legally protecting elders...
Jacksonville Estate Planning And Elder Law Blog
Essential steps to estate planning
Estate planning is when you create a formal and legal plan for managing and controlling your estate after you pass or if you suffer severe incapacity. Here are the basic steps you must take to indisputably go through the estate planning process. Identify all your...
Understanding Florida inheritance taxes
When you receive an inheritance in Florida, it is essential to know whether or not you need to pay taxes on that inheritance. In general, Florida is a tax-friendly state when it comes to inheritances, but understanding the specifics can help you plan for any potential...
3 essential documents to include in your estate plan
There is more to creating an estate plan than writing a will or creating a trust. While those documents are essential for determining what happens to your estate after your death, there are additional documents to include in an estate plan that can be beneficial...
Should you create a trust for your possessions?
A will is a document that stipulates how your possessions and assets should distribute among beneficiaries after your death. A trust is a fiduciary arrangement that allows a trustee to manage and hold assets on behalf of beneficiaries. While a will does not become...
What are the responsibilities of an executor?
When you create an estate plan and write a will, you name an executor to oversee your estate when you pass away. When deciding who to choose as the executor of your estate, you should consider what the responsibilities of an executor are before making any decisions....
When should you review and update your estate plan?
You should review your estate plan every three to five years to ensure that your assets will distribute as you desire. However, there are certain life events and changes in circumstances that should trigger you to update your estate plan, regardless of when these...
Planning for your stepchildren’s inheritance
Blended families are becoming increasingly common. With these changing family dynamics comes the need for estate planning that considers the inheritance of stepchildren. However, this can be a complex process that requires careful consideration of the unique...
Order of asset distribution: whom does the estate pay first?
The distribution of estate assets could be tricky because even before the administrator can distribute the assets to the beneficiaries according to the estate owner’s wishes, the estate has to cover certain debts and costs first. Understandably, this process might...
Estate planning strategies for business owners
Building a startup remains a dream for many. After all, who can deny the appeal of working for oneself while shaking up the marketplace? If all goes well, it is reasonable to expect that the business will far outlast the life of its creator. Thus, it is vital to have...