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
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
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