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
Did you know there are three different types of Power of Attorney in Florida: limited, general, and durable, all of which must be signed in the presence of two witnesses and acknowledged by a notary to be valid in the State of Florida. #TuesdayTip
Did you know that Congress may soon pass a bill that will change the age at which you must start taking required minimum distributions from your retirement account? #TuesdayTip
Did you know that a spouse may elect to receive 30% of the deceased spouses estate regardless of what the Will says?
The average cost of home healthcare for a retiree to spend on healthcare is approximately $285,000.00. This of course can change depending on your healthcare needs. Something to thing about when planning your estate! #TuesdayTip
Did you know in Florida, even if a homestead property is titled in only one spouse’s name, that spouse cannot sell the property without the other spouse signing the deed? #TuesdayTip
For a Last Will and Testament to be properly executed in Florida, it must be signed in the presence of two witnesses, and the witnesses must sign in the presence of each other and a notary. Please check to make sure your documents have been executed correctly. #TuesdayTip
Did you know that even though there is no estate tax in the state of Florida, you still may be subject to the federal estate tax if your estate is worth more than $11.4 million for an individual and $22.8 million for married couples? #TuesdayTip
By filing Probate it shortens the creditors period and makes it a lot easier on the Personal Representative.