Recent Blog Posts
Do I Need a Real Estate Closing Lawyer?
Many people don’t think they need a lawyer at a residential real estate closing because they’re just signing papers. This assessment is partially true. In Florida, an escrow or title agent handles most basic closing procedures. So, in many cases, people who are making small, uncomplicated purchases, like starter homes in ready-to-occupy condition, frequently… Read More »
Top Five Ways to Protect Wealth
Preserving wealth and ensuring a legacy is one of the main reasons people make estate plans. Usually, middle-income families need wealth preservation plans more than higher-income families. For a family of modest means, any wealth, such as a house, has an emotional value that far exceeds its financial value. Time, not money, is usually… Read More »
Speeding Up the Probate Process in Florida
Every estate must go through the probate process. This process transforms non-court documents into enforceable court orders. For various reasons, the probate court filing rate is much higher than the disposition rate. In other words, Florida’s probate courts are seriously backlogged. Some tips and tricks could help move a particular probate case closer to… Read More »
Top Five Asset Protection Strategies
Everyone is rich. Most college graduates earn almost $3 million over the course of their working lives. Obtaining money isn’t that difficult in most cases. But holding onto that money is a different matter. Most people spend almost as much as they earn on housing and other basic living expenses. They usually splurge a… Read More »
How Does a Real Estate Closing Work?
The real estate closing may be the most critical part of the changing real estate transaction process. At a closing, real estate title officially changes hands from the seller to the buyer. Contrary to popular myth, a real estate closing is a process, not a single meeting. More on that below. If every step… Read More »
What is the Estate Planning Process?
The percentage of Americans who go through the estate planning process has plummeted in recent years, all the way down to 26 percent. The reasons for the sharp decline are unclear. Most likely, however, people don’t believe they have sufficient assets to protect and believe the estate planning process is too complicated to undertake…. Read More »
How Much Money As a Gift is Taxable?
As of January 1, 2025, the annual IRS gift tax exemption is $19,000. Donors (givers) can give this amount every year to one person without filing Form 709, the United States Gift (and Generation-Skipping Transfer) Tax Return. Annual gifts over $19k may not be subject to tax, because of the $13.99 million per individual… Read More »
What is a Generational Estate?
For most people, a generational estate plan is an opportunity to create a lasting legacy. The financial legacy, which usually skips a generation, also creates an emotional legacy. Many people have little or no memory of their grandparents by the time they mature into adults. Generational estates, which normally contain real property, have been… Read More »
Top Ten Irrevocable Trusts in Florida
In Florida, an irrevocable trust is a type of trust that cannot be modified, amended, or revoked once it has been created, except under very specific circumstances. These trusts are often used for estate planning, asset protection, and tax benefits. Some common types of irrevocable trusts in Florida are discussed below. Irrevocable trusts are… Read More »
How Much Can You Gift to Your Children Tax Free?
In the United States, gifting to your children is a common way to transfer wealth while minimizing taxes. However, there are specific rules governing how much you can gift tax-free, primarily related to the annual gift tax exclusion and the lifetime gift tax exemption. Understanding these rules can help you navigate gifting strategies without… Read More »