Many of our regular Brevard County legal blog readers know that Florida does not have an estate tax. For some residents (especially those who have significant assets), that tax’s absence is one of the reasons they moved to the Sunshine State, or why they never moved away.
Which would your family rather do: spend the day at Cocoa Riverfront Park or discuss estate planning? Tour the Brevard Museum of History and Natural Science or discuss the inevitability of mortality? The answers are probably pretty obvious – we would all prefer entertaining distractions to discussions of what will happen when you are gone.
Starting next year, you will be able to create and sign a Florida will online and then store it in the cloud. While it is certainly going to be more convenient to create a will online while you’re at home, the real question is whether or not an electronic will is right for you and your family.
Because we regularly share information here in our Brevard County legal blog about estate planning, probate, wills, trusts, asset protection and related topics, we know full well the challenges of not only making those subjects interesting, but in making people comfortable with the idea of planning for what will happen after they die.
If you and your significant other have just had your first child, your hands are full. There a long list of important things for new moms and dads to take care of. But one of those things that should be on that long list for new Brevard County parents is estate planning.
When Florida became a state back in 1845, it was well before electricity and air conditioning were in homes. In an effort to try to get folks to pull up stakes and move to Florida, leaders devised a way to provide settlers protections they would not be likely to get elsewhere.
Regular readers of our Brevard County legal blog know that we recently wrote about steps couples can take to protect themselves and their assets. It is simply inevitable that one spouse will pass on before the other, so it is important to plan ahead so that the survivor does not have to deal with complex legal matters or needless expenses in an already difficult time.
At the very top of lists of the most stressful life events is the death of a spouse. Though planning for it can be emotionally difficult, it is a step to be taken with an experienced Brevard County attorney that will help to spare the surviving spouse needless legal complications and expenses in a time of grief and loss.
As people get close to retirement age, it is a good idea to sit down with a professional to ensure that both financial plans and estate plans are in order. In that way can minimize the possibility of surprises on either front.
One of the most powerful estate planning tools a Florida resident has at their disposal is a revocable trust. Also known as a “living trust” and “revocable living trust,” the revocable trust has at least two critical people involved: the trustee (the person who holds title to property in the trust) and the beneficiary (the person designated to benefit from the trust).