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Author Archives: Chris M

EstPl

Positives & Negatives Of Payable-On-Death & Transfer-On-Death Accounts

By Nici Law Firm, P.L. |

Estate planning is seen by the average person as a difficult, drawn-out process, especially if they have more than a few assets. Because of this, people who try to handle their estates on their own tend to gravitate toward what are known as payable on death (POD) or transfer-on-death (TOD) accounts. However, there are… Read More »

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EstatePlanning2

Common Myths About Estate Planning

By Nici Law Firm, P.L. |

Statistics reported by the American Association of Retired People (AARP) in 2017 estimate that as many as 6 in 10 adults in the United States do not have any kind of estate planning in place. In 2021, after dealing with the reality of the COVID-19 pandemic, that number has almost certainly risen – but… Read More »

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EstatePlanning6

Florida Estate Planning & Charitable Contributions

By Nici Law Firm, P.L. |

A trust is a very common estate planning instrument for people from all walks of life, but what many are unaware of is that there are many different types of trusts. The most common kind is the revocable or living trust, which is usually established by those who have assets they wish to go… Read More »

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Making Sure Your Florida Will Is Valid

By Nici Law Firm, P.L. |

When a person decides to write their will, they will often have many, many questions. For many, the first will be about the format in which a will must be written if it is going to be declared valid by Florida courts. This has been a particularly relevant question in the midst of the… Read More »

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Thinking

Altering Your Estate Plan After Divorce

By Nici Law Firm, P.L. |

Data from the Centers for Disease Control (CDC) show that there were approximately 750,000 divorces concluded in 2019 (the most recent available data). Given how complex and distasteful many divorces wind up being, it is easy to forget that certain aspects of your estate plan must be altered after your divorce is final. Florida… Read More »

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FinanPlan

Florida Asset Protection Plans

By Nici Law Firm, P.L. |

When one is planning their estate, it is common to worry about whether creditors will be able to “reach” your assets and prevent them from going to your heirs as you wish. While obviously, attempting to outright conceal assets is patently illegal, it is perfectly acceptable to try and protect your assets in ways… Read More »

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EstPlan11

Decoding Florida’s Homestead Exemption

By Nici Law Firm, P.L. |

Florida has a reputation as a very debtor and taxpayer-friendly state, and one of the main reasons why is its homestead exemption. A homestead exemption can shield the homeowner from heavy property taxes, as well as protecting it from creditors and probate in the event of a bankruptcy or a death in the family…. Read More »

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CoupleEstate

“Florida-fying” Your Estate Plan

By Nici Law Firm, P.L. |

Once you have officially made the choice to move to Florida, and have put down roots in the community, your next step should be to evaluate any estate planning choices you have made, and make sure they comply with Florida law. For some documents, you may not need to make any major changes, but… Read More »

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EstPlanning

Potential Trust Pitfalls For New Floridians

By Nici Law Firm, P.L. |

It is generally a good idea for new Floridians to have any previous estate planning reviewed by a Florida attorney, so as to ensure that it complies with state law. In particular, wills and trusts will need extensive vetting in order to be certain that every detail has been addressed. Errors or issues with… Read More »

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EstPlan20

Will A New Wealth Tax Affect Floridians?

By Nici Law Firm, P.L. |

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 »

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