South Florida Estate Planning News
Recent Posts and Articles
How to Parent a Recent Graduate or Young Adult
In honor of May’s flowers, Graduations and Mother’s Day, I’d love to share one of my favorite checklists for parents who have a new graduate in the family! The rules of parenting change completely once your child turns 18. They may still be financially dependent on you, but suddenly they…
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Creative Uses for Life Insurance
A recent study by two non-profits found that a record 102 million American adults either lack life insurance or don’t have enough coverage. Misunderstandings about costs and types of policies are major barriers. Even those with life insurance often don’t realize how it can support their financial and estate planning goals.…
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Vacation Time, What Could Go Wrong?
July is here and it is the perfect time to travel away from the heat and humidity of South Florida. It is also the perfect time to make sure you have planning in place for those unfortunate and life-changing events that can happen while you are away. Last summer, Jane…
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How Do You Want to Leave Your Money Behind?
Is Outright Distribution the Perfect Fit for Your Loved Ones? Although Americans are living longer and spending more time—and money—in retirement, many parents intend to leave an inheritance to their children. The exact amount can vary greatly depending on individual circumstances and wealth levels, but even a small inheritance can…
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FAMILY CONFLICT?
Myths and Frequently Asked Questions: Planning for Conflict-Prone Families Myth 1: My spouse and I had our estate plan prepared 20 years ago. We don’t have to worry about anything until one of us passes away. Fact: Estate planning is not a one-and-done event. By not updating your estate plan…
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Have a Harmonious Family that Does Not Fight? You Still Need an Estate Plan
In many families, everyone gets along, happily gathering for the holidays, sharing laughs, telling stories, and enjoying each other’s company. Then, the matriarch or patriarch dies. Suddenly, years of pent-up resentment and hurt feelings surface, and the once-happy family is now embroiled in litigation over the head of the family’s…
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What Type of Trust Do I Need?
Not Only for the Rich and Famous The term estate may bring to mind mansions, vast fortunes, and a level of wealth that many people do not possess. This misconception may lead to the false impression that estate planning is only for the rich and famous, discouraging those with more…
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A Guide for Trust Beneficiaries
Often, trust beneficiaries are confused about how and when they receive their funds. They may not know what they are entitled to or how to ask the trustee for money. The terms “discretion” and “HEMS” are used frequently, but misunderstood by many. Discretion means the trustee has the power to…
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Beneficiary and Transfer-on-Death Designations
Do you know which of your accounts have beneficiary designations, sometimes called transfer-on-death (TOD) or payable-on-death (POD) designations? Have you updated them recently? Are you aware of what can go wrong if there are issues with your beneficiary designation forms? If you answered “no” to any of these questions, read…
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Spring Clean your Estate Plan: Use a Human, Not AI
As spring blossoms, it’s a perfect time to refresh and renew various aspects of your life, including your estate plan. You might be curious about using artificial intelligence (AI) or platforms such as Legal Zoom, Rocket Lawyer, Estate Plan templates or similar online services to write your plan. While “DIY…
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