Florida Trust & Probate Attorneys Blog
Understanding Spousal Rights Under Florida Probate Law:
What You Need to Know
By Jacqueline R. Bowden Gold, Weston Probate Attorney
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Articles Posted in Asset Protection
Why Florida Residents Should Use Wyoming LLC with Caution
Why Florida Residents Should Use Wyoming LLC with Caution
By: Jacqueline R. Bowden Gold, Miami Business Law Attorney
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The Importance of Your Adult Child Naming a Healthcare Surrogate and Power of Attorney
The Importance of Your Adult Child Naming a Healthcare Surrogate and Power of Attorney
By: Jacqueline R. Bowden Gold, Miami Estate Planning Attorney
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Is a Handwritten Will Valid Under Florida Law?
Is a Handwritten Will Valid Under Florida Law?
By: Jacqueline R. Bowden Gold, Miami Lakes Estate Planning Attorney
When planning for the future, a crucial step is ensuring that your wishes are respected after your death. This often involves creating a will. However, not all wills are created equal, and understanding the types of wills and required formalities is essential in Florida. One type is a “holographic will,” which is not recognized as valid under Florida law. Let’s explore what a holographic will is, why it’s not valid in Florida, and why a holographic will created in another state may still be problematic if you move to or have assets in Florida.
2024 Property Tax Appeal Deadline: Read the Small Print!
2024 Property Tax Appeal Deadline: Read the Small Print!
By: Phil Rarick, Miami Trust Attorney
You will miss this deadline if you do not read carefully – and you may need a magnifying glass to find it. Around the last weeks of August, you should have received in the mail a “Notice of Proposed Property Taxes” or “TRIM Notice” from your county property tax appraiser. This is NOT a bill but a notice. Buried at the bottom of your Notice in small print is an important deadline for appealing your tax assessment.
Incorporating Cryptocurrency into Your Estate Plan
Incorporating Cryptocurrency into Your Estate Plan
As cryptocurrency continues to grow in popularity, it has become an increasingly important asset class for investors. However, many people overlook the complexities involved in incorporating digital assets into their estate plans. Unlike traditional assets, cryptocurrency presents unique challenges and considerations. Here’s a guide to help you seamlessly include your crypto holdings in your estate planning process.
Big Mistake: Naming A Minor A Beneficiary
By Phil Rarick, Miami Trust Attorney
Naming a minor child as a beneficiary of a will, life insurance policy, IRA, 401K, bank account or any other source of fund is almost always a substantial mistake for four reasons:
- If the funds are over $15,000 a guardian ad litem may need to be appointed by the court for the minor to access the funds upon death or disability of the parent. See F.S. 744.301. Court costs to petition the court and secure such funds on behalf of the minor could run from $3,000 to $5,000.
Understanding Step-Up in Basis
A Crucial Tool for Estate Planning
By: Jacqueline R. Bowden Gold, Miami Estate Planning Attorney
Step-up in basis is a tax provision in the United States that can significantly benefit those who inherit assets. By resetting the value of an inherited asset to its fair market value at the time of the decedent’s death, this provision can potentially minimize capital gains taxes when the asset is sold. Understanding how step-up in basis works and how to effectively receive it can be crucial for effective estate planning and maximizing the value of inherited assets.
12 Point Wealth Protection Checklist For 2024
12 Point Wealth Protection Checklist For 2024
By: Phil Rarick & Jacqueline Bowden Gold, Estate & Business Law Attorneys
Note: Rarick & Bowden Gold’s mission is helping all families protect their hard-earned wealth regardless of size – we provide basic estate planning for families with modest savings and advanced planning for those with substantial wealth.
File Your 2024 Annual Report – But Watch For These 3 Scams
By Phillip B. Rarick, Esq., Miami Lakes and Weston Estate Planning Attorney
Its a New Year and time to file your 2024 Annual Report if you own a Florida LLC (limited liability company), corporation, or partnership. The deadline is May 1, 2024. The state will charge you a $400 late fee if you miss this deadline.
The official Florida web site is www.sunbiz.org. This site has “Consumer Notices” to alert you to bogus web sites that try to scam persons who file these reports.