Category Archives: Estate Planning
How to Preserve Florida’s Homestead Exemption With an Out-of-State Trust
Florida’s homestead exemption is one of the strongest in the nation, and it can form the foundation of many effective estate planning strategies. However, the presence of an out-of-state trust could negate these benefits, and this might be an issue if you have recently relocated to Florida. To learn more about this issue, consider… Read More »
Purchasing a House for Your Child Without Losing Control of the Investment
Housing unaffordability has made it extremely difficult for younger people (specifically zoomers and millennials) to purchase real estate. If you’re an older family member watching from the sidelines, it can be incredibly difficult to witness your child or grandchild struggle to save enough for a down payment. If you want to lend a helping… Read More »
How Do You Know if a Trustee Will Follow Your Instructions After You’re Gone?
Trusts are popular in Florida for various reasons, including probate avoidance and asset protection. But as the name implies, this estate planning strategy relies on a foundation of trust. How do you know whether your trustee will actually follow your instructions after you’re gone? Will they act in the best interests of your beneficiaries?… Read More »
Generation-Skipping Trusts vs. Dynasty Trusts in St. Petersburg
Generation-skipping trusts and dynasty trusts are two examples of estate planning strategies designed to provide financial support for your family well into the future. Although similar in many ways, these two types of trusts represent different philosophies toward generational planning. To determine which option makes sense for your family, consider speaking with an experienced… Read More »
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 »
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 »
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 »
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 »
Advanced Estate Planning in Florida: A Primer
A basic estate plan, which fewer than a third of Floridians have, is the foundation for an advanced estate plan. Most families include complex dynamics (marriage and remarriage, estrangement and reconciliation, etc.). Other families have substantial assets or unique goals. All these families need to add onto the foundation and obtain an advanced estate… Read More »