Per Stirpes vs. Per Capita Meaning Two terms which are very commonly used in estate planning are per stirpes and per capita. Both of which are Latin terms that describe how property associated with an estate should be distributed among the beneficiaries of the estate. The difference between the two is quite significant, however, they [...]
Florida Power of Attorney Sometimes circumstances arise that require you to get help from others in managing your affairs after a loved one passes away. This process can become additionally stressful and heart-wrenching as many of the legal processes must be initiated within 30 days of the person's death. Whether you're planning your own estate [...]
Investing Your Inheritance What should you do when a sizeable amount of money comes your way in the form of inheritance? Your first step should be meeting with an attorney who is also familiar with business and family law. Preferably, this attorney should already be working with your family. Whether your attorney helped your relative [...]
What is a Trust? There are many kinds of trusts. Some trusts have very specific purposes for estate tax or income tax planning. Most of the trusts are included in this type. Other types of trusts are more exotic in nature and typically directed at preserving extreme wealth. For most of us, these exotic types [...]
Florida Homestead Exemption A Florida Homestead Exemption can save you a great deal of money in terms of property taxes. Successful applications attract a typical $25,000 cushion to add to further relief of a similar amount. This brings the total amount of relief to a tax exemption of up to $50,000. As you can imagine, [...]
Estate Taxes 101 It is the tax that kicks into effect upon the death of a person while handing down their estate (which could be money or property). However, it’s not always the case that the beneficiary of the property transfer has to pay an estate tax. If the value of the assets in question [...]
Transferring Property Upon Death in Florida Naturally, the laws on inheritance vary from one state to another. However, there are a few laws that remain commonplace across the board. Summary and Formal administration are the "standard" forms of probate administration. These govern deaths for residents of the entire state of Florida, although there are other [...]
What is Exploitation of the Elderly? I'm sure you've heard of countless examples of poor treatment in retirement homes, but it doesn't stop there. In probate law, we see the exploit of elderly individuals by caretakers or distant relatives when the elderly person is no longer competent. This incompetence leads to the incapacity to make [...]
Technology and the Changing Inheritance Laws The procedures for dealing with a person's property after death differ based on your location, culture, and whether a legal Will is in place or not. For example, there is no inheritance law or ancestral property distribution or birth-rights in Islamic law. When it comes to inheritance law in [...]
International Tax Changes Effect on Florida Inheritance Laws Presently, there are no estate taxes in the state of Florida, but that has not always been the case. Until 2004, state-level collection of the estate tax was part of the probate process. However, that changed as Florida made way for new policies and modern standards. Before [...]
