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What Is A Spendthrift Trust?

By Nici Law Firm, P.L. |

When making your estate plan, perhaps the most pressing question you have to answer is determining who you want to receive your assets. This is not always an easy choice, for a variety of reasons – not least of all that you may fear your chosen heir spending their inheritance in an irresponsible manner…. Read More »

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Florida Advance Directives In The Time Of COVID-19

By Nici Law Firm, P.L. |

For the majority of people in the United States, it has been roughly one year since the beginning of COVID-19 quarantine and containment measures. While there is a strong push among some circles to return to normalcy, it cannot be denied that the pandemic has fundamentally altered our society, especially in the way we… Read More »

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Why Are People Moving To Florida?

By Nici Law Firm, P.L. |

Statistics from the Florida Office of Economic and Demographic Research (OEDR) report that approximately 387,000 people moved to the state between April 2019 and April 2020. This is fairly comparable with projections for the next five years, which estimate that Florida will add roughly 303,000 people each year – approximately 831 residents every day…. Read More »

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How Can I Make Florida My Domicile?

By Nici Law Firm, P.L. |

Previously, we discussed reasons that moving to Florida may be the best option for you and your loved ones. If you decide to take the leap of faith and start your moving process, you should be aware that you do not just automatically become a Florida resident, at least not legally. In order to… Read More »

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High Net Worth Estate Planning

By Nici Law Firm, P.L. |

Certain characteristics of Florida estate planning are the same regardless of the net worth of the person. However, there are certain issues that tend to appear more often for those with higher net worth, and it is crucial that those who are in such a position be aware of the details that can show… Read More »

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Florida Residency and Domicile in Estate Planning

By Nici Law Firm, P.L. |

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 »

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Do I Need A “Living” Trust?

By Nici Law Firm, P.L. |

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 »

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Can My Prenup Affect My Estate Planning?

By Nici Law Firm, P.L. |

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 »

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Planning For Estate and Gift Taxes

By Nici Law Firm, P.L. |

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 »

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What Is Florida’s Elective Share Statute?

By Nici Law Firm, P.L. |

In most states, there are very few restrictions on what someone can put in their will or who they can leave their assets to. Florida is one of the 29 states that requires a testator to either provide for their spouse in their will, or if they do not, the spouse can take approximately… Read More »

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