Beneficiary designations may be an easily-overlooked part of estate planning for some people in Florida. People fill out these documents when they purchase a life insurance policy or set up a 401(k) or similar retirement plan and may forget about them even when...
Month: June 2020
South Dakota is a haven for hidden assets
Florida divorces sometimes feature the unfortunate reality that one spouse is trying to hide assets to keep them from being subject to division. Now, the laws of one state in the United States are making it harder for spouses to achieve their share of marital assets....
Why a trust may be necessary for a relative with special needs
A special needs trust can be an important component of an estate plan for people in Florida who want to help support a loved one with special needs. People who are getting Medicaid or Supplementary Security Income benefits can only own a small amount in assets or they...
Why an empty home may result in a divorce
Florida residents who are 50 or older may be more likely to get a divorce compared to those in other age groups. In many cases, older couples get divorced after their adult sons or daughters decide to live on their own. Often, raising a child was the common task that...
Estates and trusts might be able to claim certain deductions
For taxpayers in Florida and around the country, the passage of the Tax Cuts and Jobs Act ended their ability to claim certain deductions. However, the Internal Revenue Service recently published proposed regulations that clarify that estates and trusts are allowed to...
