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February 2013 Archives

Missing and confusing documents can derail your estate planning

Most people realize the importance of planning their estate to provide for their loved ones when they pass on. In an ideal situation, all assets would be distributed fairly without any unforeseen snags, mistakes or anyone being left out. However, there are quite a few ways in which estate administration planning can go wrong, leaving an estate to be dealt with in probate -- or worse, the subject of lawsuits and bitter family resentment.

Make sure your furry family members are taken care of via a trust

When people in Florida sit down to work out their estate planning, they often think of the standard sorts of beneficiaries: children and grandchildren, spouses or charitable organizations. One way people can ensure that their loved ones are taken care of is via a trust, which can specify a trustee who can administer funds for another person or for an organization.

Navigating around costly estate tax issues

Most working adults are familiar with standard tax procedures, but fewer individuals have experience in dealing with matters like the estate of a loved one who has recently passed. On the same note, many families do not fully plan for the care and distribution of their assets in the case of death. Fortunately, there are several estate planning options for Floridians and people around the country to protect their wealth from excessive taxation so that last wishes are fulfilled and loved ones are accounted for.

Is an equal inheritance a fair inheritance?

When it comes to estate planning, many people in Florida -- perhaps especially those whose parents are recently deceased -- might believe that the law requires their parents to divide any inheritance equally between siblings. However, that is not the case. In many cases it is perfectly legal to leave an estate unequally divided among beneficiaries, although it can sometimes lead to disgruntled family members and contested wills.

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