Protecting Your Interests

(941) 756-6600

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East Manatee County by
Living Out East Magazine

Estate Planning

Benjamin Franklin once said, “By failing to prepare, you are preparing to fail.”  Everyone needs to think about planning and preparing their estate plan.  These are the ten critical times in your life when you should be sure to prepare a proper estate plan:

Estate Planning in Bradenton, FL
  1. Marriage
  2. Birth of a child or grandchild
  3. Divorce
  4. Purchase of life insurance
  5. Receipt of substantial gift or inheritance
  6. Serious illness
  7. Purchase of real estate
  8. Change in domicile – recent move to the state of Florida or recent change of residency to the state of Florida
  9. Retirement, increase or decrease in wealth
  10. Death of a spouse, child or grandchild

This list is not all inclusive; however, it highlights the importance in both creating and updating your will, trust, durable power of attorney, health care surrogate, and additional estate planning documents.

Visit our new page for a Simple Glossary of Estate Planning Terms. The Ultimate Plan By Dana Laganella Gerling, Esq. Affordable Attorney, Gerling Law Group Chartered

Risks Of Planning With Only Joint Bank Accounts

Estate Planning in Bradenton, FL

Many times people believe that putting someone else's name on their bank accounts will allow them to avoid Probate.  That is not always the case and you should always consult with an Attorney to come up with a better plan.  According to Florida Statute §655.79(1), unless otherwise expressly provided in a contract, agreement, or signature card executed in connection with the opening or maintenance of an account (including a certificate of deposit), a deposit account in the names of two or more persons is presumed to have been intended to provide for survivorship rights upon the death of one of them.  Florida Statute §655.79 provides that this presumption may be overcome only by proof of fraud or undue influence or clear and convincing proof of a contrary intent.  Come into the office for a free consultation and we will explain this concept and others fully.

We are a member of the National Academy of Elder Law Attorneys. Call for your free half-hour in-office or telephone consultation. Download our newest brochure on Estate Planning.

Federal Estate Tax Exemption Chart

Calendar
Year
Federal Gift
Tax Exemption
Federal Estate &
GST Tax Exemption
Highest Federal Estate
& GST Tax Rates

2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017

$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$1,000,000 *
$1,000,000*
$1,500,000
$1,500,000
$2,000,000
$2,000,000
$2,000,000
$3,500,000
Unlimited
$5,000,000
$5,000,000
$5,250,000
$5,340,000
$5,430,000
$5,450,000
$5,490,000
50%
49%
48%
47%
46%
45%
45%
45%
N/A
55%