Tag Archives: The Villages Estate Planning Lawyers
Tax Time is the Right Time for Estate Planning
It is tax time again, and across the country, millions of Americans are meeting with their tax preparers to reduce their tax liability and minimize their taxes. Older adults have added concerns when filing taxes, especially high net-worth seniors. This year, before you file your return, consider meeting with an elder law attorney. Here… Read More »
Pros and Cons of Creating a Florida Life Estate: Part Two – The Drawbacks
In the last post on Florida life estates, we looked at some of the potential benefits of sidestepping probate by conveying real estate using a life estate. This simple and effective transfer allows a life tenant to have unfettered use of the property while alive, while allowing another party to have the ultimate title… Read More »
Pros and Cons of Creating a Florida Life Estate: Part One – The Benefits
Perhaps you have been doing some early estate planning. Maybe you have heard the term “life estate” but are unsure if it would help in your situation. Like any form of early property distribution designed to take an asset out of your estate, there are potential risks and benefits. Although a trust is generally… Read More »
Should I Use Joint Ownership to Avoid Probate?
Few things are as unattractive as probate court. There are attorneys, fees, court costs, appearances, and the ever-present paternalism of having a judge preside over your family’s personal affairs. Nevertheless, in Florida, many families have to use the probate court to handle final affairs. This is not necessarily a bad thing, but the concerns… Read More »
Is an Estate Plan Part of Your New Year’s Resolution?
It’s true that setting up an estate plan may not be the most tantalizing New Year’s resolution, but it does make a lot of sense. You may be surprised to learn that according to the Static Brain Research Institute, just eight percent of Americans actually keep their New Year’s resolutions, despite the fact that… Read More »
I am Going Into a Nursing Home: Can I Give the House to My Kids?
Florida elder law attorneys are frequently asked to help save the family home. For many seniors, their home is their largest investment and greatest asset, and in many cases there is no longer a mortgage on the property. Therefore, it only makes sense they would want to secure the asset, not only to provide… Read More »
Three Excuses Older Adults Give for Not Discussing Estate Planning
Sometimes the first call to an elder law attorney comes from a person who is not a senior at all. In fact, adult children often call seeking help for their parents or grandparents. Sometimes this is because the aging parent is physically or mentally unable to make decisions or take on the difficult process… Read More »
Florida College Savings: A terrific way to give
For Florida seniors looking to lower their taxable estate, annual gifts may be just the ticket. Many seniors wonder about this because not too long ago estate taxes were a real threat to upper middle class earnings. This is not as true these days, as the maximum exclusion limits risen significantly. Nevertheless, there are… Read More »
Retired and Working: What Seniors are Doing to Supplement Retirement Income
Traditionally, retirees would move to Florida with a healthy retirement already planned and in place. This included the standard three-legged stool: Social Security, employer-sponsored retirement (pensions and 401K accounts), and individual savings. These three methods of accruing wealth and stability in old age offered seniors the ability to largely replace their income. Elder law… Read More »
Will the Nursing Home Take My House?
Clients often wonder what will happen when and if they must go to a long-term skilled nursing facility. Fears may range from practical financial concerns, such as whether their retirement will be sufficient to cover the expense or whether they will become a financial burden on their children to more unspeakable fears like mistreatment… Read More »
