Archive

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, 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 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

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

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

It is important to have and regularly update a Durable Power of Attorney so that a trusted friend or relative will be able to handle your financial affairs in case of your disability or incapacity. #TuesdayTip

An individual can gift up to $15,000 per recipient this year without triggering a taxable event. For a couple that is married, the exclusion goes up to $30,000 per recipient for this year. Dont forget to check with your tax professional for the Gift Tax Return. #TuesdayTip

Many things are still unknown about the new Tax Law. Attached is a review of the various Code provisions. The most important aspect is the “Expiration Dates” of the various sections. There has been a lot of discussion about the estate tax. It should also be noted that the income tax and several other sections […]