Estate Planning & Tax Blog

“RLT-Easy As 1,2,3…” Revocable Living Trust: Top 3 Benefits to Having One in Your Estate Plan

A revocable living trust (RLT), is a document that is created by an individual, called a grantor (or settlor), during the grantor’s lifetime, that instructs a trustee on how to manage the grantor’s assets during the grantor’s lifetime and how to manage or distribute the assets upon the grantor’s incapacity and death. Diverse assets such…

Niche Trusts: As Unique As You Are

You’re not a carbon copy of your neighbor. Likewise, your estate plan shouldn’t be a carbon copy of theirs. Your estate planning team’s approach to counseling should be tailored to your specific needs. As your team works together to produce, tailor, or edit your estate plan, one key tool to consider is a niche trust.…

Unleashing the Power of the ‘Lady Bird’ Deed: Enhanced Life Estate Deeds, One of Florida’s Best Tools for Estate Planning

The state of Florida is well known for its beautiful sunny skies, impressive real estate, and favorable estate planning laws; however, there is one estate planning tool that Florida offers that is extremely powerful, saves thousands of dollars by avoiding probate, and is surprisingly underutilized by many property owners, and that is the enhanced life…

Getting Rooted in the Sun(shine State): Establishing Florida Residency

The purchase of a home in the beautiful sunshine state of Florida comes with more benefits than just the sun! Florida property owners may be eligible for homestead exemption and additional benefits that will reduce their property tax liability on their permanent residence. As defined in Florida Statute 196.012(17), for purposes of the homestead exemption,…

Six Key Considerations for Your Estate Planning

Maintaining your estate plan can feel overwhelming when faced with all the changes life can bring. Calling your attorney may not be your first instinct when you’re faced with a significant shift in income, investments, or employment, but consulting with us is a wise way to ensure your legal health is always maintained. Read on…

Avoid the Stress: 4 Tax Tips to Remember When Preparing to File

Tax season is well underway and many Taxpayers are preparing to file their taxes. With the passage of the Tax Cuts and Jobs Act in December 2017, which was effective as of January 1, 2018, the 2018 tax filing season is going to look a little different for many taxpayers. In order to ensure you…

The Appointment of a Personal Representative: Making Sure You Get “Who” You Want

It is a new year, and resolutions have been made, carried out – and even broken! It is a popular time for planning, which makes it a great time to be sure that your estate plan and affairs are in order. If you have not done so, it is a great time to either create…

Giving Thanks and Leaving a Legacy Through Your Estate Plan

Many people use their estate plan to pass along wealth to their loved ones, to pass along their values, and to give thanks. There are several ways to give thanks by using your estate plan. One way to do this is by designating charitable giving or specific gifts that will help ensure your legacy. It…

New Capital Gain Deferral Strategy for Real Estate

Kicking the “Gain” Down the Road

Last week our blog discussed a new capital gain deferral strategy referred to as “Opportunity Zones.” In addition, there are several capital gain strategies that have existed for many years that might be useful to explore again, now that gains actually exist (especially on real estate sales). First, a brief primer. Capital gains result from…

Get in the Zone: New Tax Incentive for Investors

In an effort to prompt investments, increase jobs, and reduce poverty in some of America’s most economically distressed communities, Congress provided a tax incentive for investors to receive preferential tax treatment, while investing in areas designated as Opportunity Zones. Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act (“TCJA”)…

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