Monthly Archives: May 2021
Will A New Wealth Tax Affect Floridians?
On March 1, three members of Congress unveiled what they called the Ultra-Millionaire Tax (UMT), intended to “create a fairer economy.” Sen. Elizabeth Warren (D-Mass), Rep. Pramila Jayapal (D-WA-07), and Rep. Brendan Boyle (D-PA-02) unveiled their plan, intending a 2 percent annual tax on the net worth of households and trusts valued between $50… Read More »
Using A Personal Property Memorandum In Estate Planning
When someone passes away, it is likely that they have estate planning documents that specify how they want their valuable property to be disbursed among their heirs. However, it is far too common for people to neglect their personal items, any of which may have great sentimental value to the members of their family,… Read More »
Supplemental Needs Trusts Under Florida Law
Being disabled in the United States can be difficult, particularly financially. Families with disabled children often wind up between the proverbial rock and a hard place in terms of providing for them in the long-term, especially if the disabled person receives Supplemental Security Income (SSI) – SSI imposes a $2,000 asset limit on every… Read More »
Common Mistakes In Florida Asset Protection
For many people, it is difficult to understand why they would need to include specific asset protection in their estate planning – after all, one figures, one plans their estate so that their assets are protected. However, it is generally a good idea to specifically set up your estate plan so that your assets… Read More »