Archive

You should check and update your estate planning documents at least once a year and whenever there has been a change in marital status, family members have left or entered the picture, or the tax laws have changed.      #TuesdayTip  

Did you know that there are two main categories of trusts: revocable and irrevocable. One of the primary differences is that a revocable trust can be changed at any point throughout the Grantor’s life. The type of trust you need will depend on your estate planning goals.   #TuesdayTip  

A “pour over” Will works together with a Revocable Trust so that any assets that are not in your Trust at the time of your passing end up in your Trust after the probate process is over.      #TuesdayTip  

Did you know that the state in which your Trustee resides may impact the taxation of your Trust? To learn more about this, check out Attorney Robin Lloyd’s new article in the upcoming edition of Portfolio magazine.  #TuesdayTip  

It is important to review and update your estate planning documents every couple years, and when there is an important milestone in your family’s life, such as a marriage, divorce, or graduation.      #TuesdayTip      

Did you know that certain contracts, such as a sale of an interest in land, must be in writing and signed by the parties in order to be a valid contract, otherwise they are not enforceable. #TuesdayTip  

Did you know that transferring your primary residence into your revocable trust will not affect your homestead exemption? #TuesdayTip  

Did you know that the domicile of your Trust will determine if you pay state income tax? You might want to review your Trust to make sure it is correct.  #TuesdayTip Robin A. Lloyd, Sr., J.D.

Did you know that to serve as your Personal Representative in Florida, the individual must either be a resident of Florida, or regardless of residence, a spouse, sibling, parent, child or other close relative. #TuesdayTip

Did you know that, in most cases, due to the unlimited marital deduction, you can give or bequest to your spouse an unlimited amount free of any federal estate or gift tax issue. #TuesdayTip