There are some myths that simply will not die. Even today there are people who believe that the Earth is flat, George Washington chopped down a cherry tree and that Columbus discovered America. Estate planning is, unfortunately, not immune from its own myths and legends.
Let’s say you have recently relocated to Brevard County. You’ve left behind the snow and the sleet of your former home up north and you’re looking forward to enjoying your days of sunshine and sand in your new home here in Florida.
Many of our regular Brevard County readers are also readers of the Orlando Sentinel. The newspaper recently ran a short advice column on how Florida residents can pass real estate on to their heirs.
Spring break has come and gone for most Florida college students. But another annual rite is upon those who wish to become Florida college students: opening the letters of acceptance (or rejection) for high school seniors.
As a parent, you likely love all your children equally and want that to be reflected in their inheritances. After all, one of the biggest fears that most people have when estate planning is unintentionally creating family conflict. Passing along assets in unequal measure can seem like favoritism, which can stir resentment.
Most Americans believe in an afterlife – a life after death. But “thinking beyond death” doesn’t refer to heaven or hell, it refers to estate plans that include more than distribution of your assets to your loved ones when you pass on. It refers to a plan that takes into account the very real possibilities that something will happen to cause you hardship while alive.
In the aftermath of a divorce, it can be difficult to remember all the things that need to be changed in your life. For many divorced parents, there are significant changes to the time they get to spend with their kids, as well as alterations in living arrangements, household income, insurance and much more.
Someone wise once said that “other things may change us, but we start and end with the family.” Unfortunately, though we might well “end with the family,” conflicts within that basic social unit can make everyone unhappy.
Does a person who has “a small amount of assets” need to have a trust in order to help heirs avoid probate? That was one of the questions posed recently to a Florida newspaper located west of Brevard County.
Some adults choose to have children; others choose not to. If you are an adult without children, you have the benefit of controlling more of your free time and having more disposable income in your pocket. However, you have additional concerns that do not trouble parents. For example, you might sometimes wonder to whom you will leave your assets after you die.