Keeping Peace in The Family: 5 Common Pitfalls
By Attorney Phil Rarick, Weston Estate Planning Attorney
As an estate planning attorney, I sometimes witness stressful family fights that break out upon the death of a father or mother or husband and wife. On some occasions, it’s outright family warfare! What is painful is that the family was functioning quite well before the passing of their family member. Here are five common pitfalls to avoid:
The Importance of Estate Planning
By: Jacqueline R. Bowden Gold, Miami Estate Planning Attorney
2024 Property Tax Appeal Deadline: Read the Small Print!
By: Phil Rarick, Miami Trust Attorney
You will miss this deadline if you do not read carefully – and you may need a magnifying glass to find it. Around the last weeks of August, you should have received in the mail a “Notice of Proposed Property Taxes” or “TRIM Notice” from your county property tax appraiser. This is NOT a bill but a notice. Buried at the bottom of your Notice in small print is an important deadline for appealing your tax assessment.
Incorporating Cryptocurrency into Your Estate Plan
As cryptocurrency continues to grow in popularity, it has become an increasingly important asset class for investors. However, many people overlook the complexities involved in incorporating digital assets into their estate plans. Unlike traditional assets, cryptocurrency presents unique challenges and considerations. Here’s a guide to help you seamlessly include your crypto holdings in your estate planning process.
By Phil Rarick, Miami Trust Attorney
Naming a minor child as a beneficiary of a will, life insurance policy, IRA, 401K, bank account or any other source of fund is almost always a substantial mistake for four reasons:
A Crucial Tool for Estate Planning
By: Jacqueline R. Bowden Gold, Miami Estate Planning Attorney
Step-up in basis is a tax provision in the United States that can significantly benefit those who inherit assets. By resetting the value of an inherited asset to its fair market value at the time of the decedent’s death, this provision can potentially minimize capital gains taxes when the asset is sold. Understanding how step-up in basis works and how to effectively receive it can be crucial for effective estate planning and maximizing the value of inherited assets.
By Jacqueline R. Bowden Gold, Miami Estate Planning Attorney
Many people are concerned about their family avoiding probate upon their passing, but how can you avoid guardianship proceedings? As people age, the risk of cognitive decline and physical disabilities can sometimes necessitate guardianship, where a court appoints someone to make decisions on behalf of the elder. However, guardianship can be restrictive and often perceived as a loss of autonomy. Fortunately, there are several ways to avoid guardianship and ensure that you or your elder family members retain control over their lives and decisions for as long as possible. These measures are not only essential for maintaining independence but also crucial for avoiding guardianship proceedings and reducing associated costs. Here are some effective strategies:
Disabled Child Turning 18:
Legal Support for My Disabled Child
By Jacqueline R. Bowden Gold, Miami Estate Planning Attorney
Florida Successor Trustee Checklist
By Phillip B. Rarick, Miami Trust Attorney
You are named the successor trustee and the trustmaker has just died. No doubt these are difficult times, but thankfully there are many resources to help. The following is a checklist of initial important tasks to help guide you after the funeral or memorial service.
By: Phil Rarick & Jacqueline Bowden Gold, Estate & Business Law Attorneys
Note: Rarick & Bowden Gold’s mission is helping all families protect their hard-earned wealth regardless of size – we provide basic estate planning for families with modest savings and advanced planning for those with substantial wealth.
_____1. Wealth Protection. Do you have any rental real estate that is in your individual name or an S corporation? Do you have a single member LLC? This is low hanging fruit for any potential creditor, and likely needs to be protected by placing the property in a multi-member LLC with a high quality Operating Agreement. Do you know which assets you own that are protected and which are exposed? If not, we can help analyze this important issue. Schedule a Wealth Protection consultation by calling our office at (305) 556-5209.
Florida Trust & Probate Attorneys Blog
