South Florida Estate Planning News
Recent Posts and Articles
What exactly is a Personal Representative or an Executor?
Many clients ask me what will be required of their “Personal Representative” or “Executor” when they pass away; and are concerned about their family members being required to undertake such a responsibility. Here is some information to pass along to their family and to hopefully shed light on the duties…
Read More Execute a Power of Attorney Before It’s Too Late
A durable power of attorney is an extremely important estate planning tool, even more important than a will in many cases. This crucial document allows a person you appoint — your “attorney-in-fact” or “agent” — to act in place of you — the “principal” — for financial purposes when and…
Read More Guns and Dementia: Dealing With A Loved One’s Firearms
Having a loved one with dementia can be scary, but if you add in a firearm, it can also get dangerous. To prevent harm to both the individual with dementia and others, it is important to plan ahead for how to deal with any weapons. Research shows that 45 percent…
Read More Last Year for Couples to Use ‘Claim Now, Claim More’ Later Social Security Strategy
This is the last year that spouses who are turning full retirement age can choose whether to take spousal benefits or to take benefits on their own record. The strategy, used by some couples to maximize their benefits, will not be available to people turning full retirement age after 2019.…
Read More Does Your Estate Plan Include Your Pets?
Have you considered your pet or pets when planning your estate? If not, you should, according to The Humane Society of the United States, the nation’s largest animal protection organization. Pets usually have shorter life spans than humans, but people don’t always include their pets in their estate plans. If…
Read More Charitable Giving Options Under the New Tax Law
The new tax law makes it harder to claim a tax deduction for charitable contributions. While charitable giving should not be only about getting a tax break, if you want to reap a tax benefit from your contributions, there are a couple of options. The Tax Cut and Jobs Act,…
Read More 2019 Will Bring Social Security Beneficiaries the Biggest Increase in Eight Years
The Social Security Administration has announced a 2.8 percent increase in benefits in 2019, the largest increase since 2012. The change will put an additional $468 annually in the pocket of the average retired beneficiary. Cost of living increases are tied to the consumer price index, and an upturn in…
Read More 5 Things to Know to Reduce Your Tax on Capital Gains
Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here’s what you need to know to do such planning: What is capital gain? Capital gain is…
Read More Keeping Track of Your Will
Once you’ve taken the step to create a will and get your estate plan in order, you need to figure out what to do with the will itself. It is important to keep track of the location of your current will as well as any old wills, and to ensure…
Read More The New Tax Law Means It’s Time Review Your Estate Plan
While the new tax law doubles the federal estate tax exemption, meaning the vast majority of estates will not have to pay any federal estate tax, it doesn’t mean you should ignore its impact on your estate plan. In December 2017, Republicans in Congress and President Trump doubled the federal…
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