As a Florida resident working on your estate plan, the first step is to choose an executor. Your gut instinct may have you leaning toward a family member. After all, it is important for an executor to get along with you. You know your family members best, too. But is...
Estate Planning
What happens if someone refuses to accept a power of attorney?
If you hold a power of attorney for someone else and wish to handle that person's business for him or her, then it is essential that others recognize the validity of your power. If they refuse to accept the POA, it could leave you in a situation where you cannot carry...
How to choose an estate executor
Whether you are starting a family or getting ready to retire from your career, financial planners emphasize the importance of planning your estate as soon as possible. A vital component of your estate plan is the last will and testament, which dictates who you would...
What are the reasons I need an estate plan?
Estate planning is something you have likely heard about, but maybe not given much thought. Nobody wants to think about the end of their life. However, it is never too early to get a plan in place. Not having an estate plan is a huge mistake that will have lasting...
What happens to your property if you do not have an estate plan?
When you fail to plan for your death, the state will step in and handle things for you. Intestate laws are those that determine where your estate goes if you left no instructions. These laws can get quite complicated, depending on your family structure. It is always...
Can I create a trust to care for my pet?
Your pet is a treasured part of your family, but the law considers your pet property. This may leave you wondering what will happen to it after your death. Is it possible for you to leave instructions for its care? Can you provide financially for your pet after your...
What are the types of powers of attorney?
Nobody wants to think about a time in their life when they will be unable to take care of themselves, but it is something that everyone should plan for. One of the ways to plan ahead is to create a power of attorney. In fact, you may want to create multiple powers of...
How do I create a business succession plan?
What will happen to your business when you can no longer run it? Do you have a plan in place for who will take over when you pass away? If you wish to keep your business around for generations, then you need to create a business succession plan. According to SCORE, a...
Transferring real estate in your trust
Real estate plays an outsize role in estate planning. Aside from savings and investments, your home is likely your largest asset. And if you own other properties, they may form the bulk of the assets you pass on. But transferring property involves more than deeds and...
Planning to avoid estate taxes
Many of the strategies suggested by estate planning experts in Sarasota are specifically aimed at reducing the number of liabilities that might lessen the overall value of one's estate. However, people might reasonably assume that no amount of planning will overcome...