Recent Blog Posts
How Florida’s Homestead Exemption May Restrict Your Estate Planning Options
Normally, a Florida resident is free to devise their property as they wish through their will or by creating a revocable trust. But there is an exception for married persons who own their primary residence. Such residences, known as “homesteads,” enjoy a special status under the Florida Constitution. Florida Law and Your Primary Residence… Read More »
Does a Florida Trustee Have to Provide Annual Accountings?
In any Florida irrevocable trust, state law requires the trustee to “provide a trust accounting … to each qualified beneficiary at least annually and on termination of the trust or on change of the trustee.” Practically speaking, the trustee must give the beneficiary a “reasonably understandable report” so that the beneficiary can understand what… Read More »
Can You Probate a Copy of a Lost or Missing Florida Will?
A last will and testament is the cornerstone of your estate plan. Even if you plan to control and distribute most of your assets through trusts, you still need a will to name a personal representative for your probate estate, nominate guardians for any minor children who may survive you, and distribute any non-probate… Read More »
What You Need to Know About Estate, Gift & Inheritance Taxes in Florida for 2026
A New Year often means changes to various federal and state tax laws. Yet for Florida residents thinking about their estate planning needs, particularly as it relates to potential estate taxes, 2026 should not represent a radical departure from 2025. Only a small handful of Florida estates need worry about such taxes. That said,… Read More »
Annuity Trust vs. Unitrust: Understanding the Differences Between 2 Types of Florida Charitable Remainder Trusts
For high net worth Florida residents looking to incorporate charitable giving into their estate plan, a charitable remainder trust (CRT) offers many potential benefits. A CRT is a type of irrevocable trust where the grantor donates assets to a not-for-profit charity, such as a university or other 501(c)(3) organization, but retains an income stream… Read More »
Seven Major Pitfalls to Avoid During Trust Administration
Especially in Florida, trust administration is a complex process that features subtle nuances. A small mistake or oversight could have devastating consequences down the road. Whether you’re a new trustee or have experience, being aware of common pitfalls can help ensure the proper and effective management of the trust. More on that below. Trust… Read More »
Succession Planning for Family Businesses
Family-owned businesses drive the economy. These organizations account for over half of the U.S. gross domestic product, provide over half of the country’s jobs, and generate $7.7 trillion in revenue. More importantly for purposes of this blog, a family-owned business has a substantial emotional value that’s almost impossible to calculate. For many families, their… Read More »
Five Quick Ways to Avoid Guardianship in Florida
A combination of careful planning and certain legal tools usually allows people to retain their independence while, at the same time, they prepare for future incapacity. Avoiding guardianship also means retaining control over one’s own life. This process is especially important in Florida. The Sunshine State’s involuntary guardianship procedure is rather fast. Almost anyone… Read More »
What is the Purpose of a Dynasty Trust?
The first dynasty trust may have been a gold tooth. The gold was immune from creditor seizure and could be passed down through multiple generations. Today, there’s a better way to achieve the same goal. A modern dynasty trust is a long-term legal arrangement that preserves and transfers wealth across multiple generations while minimizing… Read More »
What You Should Know About the Gift Tax
Typically, the gift tax rate is much higher than the income tax rate. Furthermore, the IRS broadly defines “gifts” to include any transfer of property or assets from one person to another without receiving full value in return. It applies to cash, real estate, investments, or any other valuable item given as a gift…. Read More »