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February 2017 Archives

Understanding who can be a guardian

You likely care deeply for your friends and family both inside and outside of Miami, and thus have a great interest in their well-being. Eventually, age, accidents or medical conditions may rob them of the ability to care for themselves. Many come to us here at The Law Offices of Frye and Vazquez, P.L. wondering who they can entrust with the care of their loved ones. If you have a child, parent, sibling or friend who may be incapable of caring for themselves, you may have the same question.

Avoiding estate taxes after a life insurance payout

Many in Miami may be counseled on the wisdom of taking out a life insurance policy to help ease the financial burden their loved ones may feel when they die. One of the more attractive aspects of a life insurance policy are the perceived tax advantages it offers, specifically that beneficiaries do not have pay income tax in its proceeds. Yet while that is true, many do not consider that a life insurance payout may suddenly force their loved ones to become subject to estate taxes.

What is a charitable trust?

If you have a large amount of assets that you want to be managed in the event that you are unable to do so, then placing them in a trust ensures that they will be conserved for whatever purpose you may have for them both in Miami and beyond. Florida’s Trust Code requires that, when creating a trust, you must designate a beneficiary. There are, however, certain exceptions to this rule, one of which is if you wish to create a charitable trust.

Insurer sues to avoid paying benefit to man who killed his mother

Many in Miami may joke about people wanting to do away with their wealthy parents or relatives so that they can inherent their money. Yet as difficult as it may be for some to believe, circumstances may actually arise where one who caused another’s death may attempt to claim inherited benefits. Most states (Florida included) have what are termed to be “slayer statutes” which prohibit a person who has killed someone else from benefiting from the decedent’s estate. However, simply because such laws are in place does not mean that some may believe their cases to qualify as exceptions.

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