Category Archives: Estate Planning
Estate Planning Steps You Can Take Without a Lawyer
Although you may need legal assistance with certain aspects of your estate plan, you can also take various estate planning steps without help from a lawyer. Clear examples include beneficiary designations and a designation of health care surrogate. That said, you may want to avoid too many “DIY” steps if you’re serious about creating… Read More »
The Downsides of Lifetime Gifting in Florida
The downsides of lifetime gifting in Florida include missed investment opportunities, exemption loopholes, and Medicaid eligibility issues. Although lifetime gifting can be an excellent estate planning strategy in Florida, it can also prove to be more costly than you realize. Discuss the implications with an experienced St. Petersburg estate planning lawyer before moving ahead…. Read More »
What Happens to My Stock Options if I Pass Away Before Retirement in Florida?
If you pass away before retirement, your vested stock options should pass seamlessly to your named beneficiaries or your personal estate. However, this may not apply to unvested stock options. In addition, the exact mechanisms depend entirely on your company’s unique stock option plan. Learn more by speaking with an experienced estate planning attorney… Read More »
When Do You Lose the Step-Up in Basis With a Florida Trust?
The step-up in basis is one of the most powerful estate planning mechanisms you should be aware of, and it can help your beneficiaries avoid crushing capital gains taxes. While this benefit is “automatic” in many cases, your family members may lose access to it if you create a trust. When exactly does a… Read More »
What Does It Mean to “Decant” a Trust in Florida?
In common parlance, “decanting” is the process of pouring liquid from one container to another. In the legal and financial domains, this phrase has a distinct meaning. One might “decant” a trust in Florida in order to achieve certain estate planning goals. What does this process entail? Why exactly would someone want to decant… Read More »
What Are Lawyer Trust Account Violations in Florida?
When you ask a lawyer to help you with estate planning in St. Petersburg, they take on a serious responsibility. Unfortunately, some lawyers commit certain violations when tasked with this responsibility, and a 2024 report published by the Florida Bar states that “trust accounting issues” are a common source of complaints against lawyers in… Read More »
My Family Members Are Interfering With My Investments at Old Age: What Can I Do?
Older people are often some of the most skilled investors. These individuals remember countless boom and bust cycles, and they know how to pick winning companies. Your younger loved ones might not fully understand your investment strategies, and they might even try to interfere. What can you do if your family members are trying… Read More »
Overrated Estate Planning Strategies in St. Petersburg
Many estate planning strategies in St. Petersburg are overrated, such as ILITs, IAPTs, and POD accounts. As an individual approaching Wills, trusts, and other options for the first time, it might be difficult to discern whether certain strategies are effective or even necessary. How do you determine whether an estate planning lawyer is trying… Read More »
Types of Revocable Trusts in St. Petersburg
Revocable trusts are among the most flexible estate planning strategies in St. Petersburg. Their flexibility stems not only from their revocable nature, but also from the various options they offer. There are many different types of revocable trusts to choose from, and you might want to discuss these options with an experienced estate planning… Read More »
Trust Administration vs. Trust Execution in St. Petersburg
If you’re researching trusts in St. Petersburg, you might have come across the terms “trust administration” and “trust execution.” What exactly is the difference between these two concepts? How does one “execute” a trust? These are questions you might want to ask during an initial consultation with an experienced estate planning attorney. Trust Execution… Read More »