Estate Planning
TOP TEN TIMES IN YOUR LIFE WHEN YOU NEED TO BE SURE TO UPDATE YOUR WILL, TRUST and ESTATE PLANNING DOCUMENTS
Benjamin Franklin so eloquently stated “By failing to prepare, you are preparing to fail.” Everyone needs to think about planning and preparing their Estate Plan. Top ten critical times in your life when you should be sure to prepare a proper Estate Plan include:
- Marriage
- Birth of a Child or Grandchild
- Divorce
- Purchase of Life Insurance
- Receipt of substantial gift or inheritance
- Illness
- Purchase of Real Property
- Change in Domicile – recent move to the State of Florida or recent change of residency to the State of Florida
- Retirement, Increase or Decrease in Wealth
- 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.
Risks Of Planning With Only Joint Bank Accounts
Many times people believe that putting someone elses 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 Fla. Stat. §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. Fla. Stat. §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 Our Simple Will Package, which includes a Will and Living Will, is only $60.00 when you mention our website. Download our newest brochure on Estate Planning.
- Wills
- Living Wills
- Health Care Surrogate
- Preneed Guardian
- Power of Attorney
- Trusts
- Planning for snowbirds/out of state residents wanting domicile in the State of Florida
Read a Wall Street Journal article about 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 |
$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 $1,000,000 * |
50% 49% 48% 47% 46% 45% 45% 45% N/A 55% |
Estate Planning Resorces
Durable Power of Attorney Pamphlet from the Florida Bar
A Affordable Attorney - Gerling Law Group - Estate Planning Brochure
Famous Wills on the Web
National Academy of Elder Law Attorneys
Free Online Estate Planning Education
Florida Dept. of Elder Affairs
Bradenton Florida6148 State Road 70East Bradenton, Florida 34203Telephone: 941-756-6600Fax: 941-782-5575 |
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