Monthly Archives: February 2021
Florida Residency and Domicile in Estate Planning
In colloquial speech, the words ‘residency’ and ‘domicile’ are often used synonymously. However, in the legal field, the two mean very different things. One can be a resident of a state without having that state as one’s official domicile, and it can be confusing to determine your status if you need to do so… Read More »
Do I Need A “Living” Trust?
In estate planning, a trust is a contract of sorts, in which assets are held ‘in trust’ for a beneficiary by a trustee. The trustee holds legal title to all the assets (real or personal property) in the trust’s name, but the beneficiary can access the trust’s proceeds at the appropriate time. There are… Read More »
Can My Prenup Affect My Estate Planning?
Most of the time, a prenuptial agreement is thought of as a tool for affianced couples to establish the way property should be disposed of in the event of a divorce. However, in Florida, the laws are written in such a way that several different estate planning issues can also be dealt with in… Read More »
Planning For Estate and Gift Taxes
When one is planning out their estate, it is crucial to remember that both the federal and state governments have the right to collect taxes on an estate or inheritance, though state obligations in particular will vary depending on where you live. Florida has a reputation as a low-tax state, but it is still… Read More »