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.
12 Point Wealth Protection Checklist For 2024
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.
Its a New Year and time to file your 2024 Annual Report if you own a Florida LLC (limited liability company), corporation, or partnership. The deadline is May 1, 2024. The state will charge you a $400 late fee if you miss this deadline.
The official Florida web site is www.sunbiz.org. This site has “Consumer Notices” to alert you to bogus web sites that try to scam persons who file these reports.
If you have a LLC, corporation or partnership this article summarizes critical information about the new Corporate Transparency Act (CTA), that took effect on January 1, 2024. The new law requires persons with such interests to file a report with the federal government and imposes significant penalties for failure to comply.
The CTA is designed to enhance transparency in the business world to combat money laundering, corruption, and other illicit financial activities. Unfortunately, by casting such a large net, it imposes burdensome reporting requirements on the small business owner and real estate investor. Here are the 5 key parts you need to know.
Asset Protection Checklist For Married Professionals
By Phil Rarick, Esq., and Jacqueline Bowden Gold, Esq., Miami Asset Protection Attorneys
If you have creditor threat, do you know what assets are easily exposed to creditors? Do you know what assets are already protected by Florida law? Take this three minute survey for a quick assessment.
Florida Trust & Probate Attorneys Blog
