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March 2015 Archives

50 percent of parents don't have a will

Planning for your child’s future begins the moment that you learn you are going to be a parent. You prepare the infant’s room with bright colors, cute clothes and soft comforts. You research the best daycares and preschools. You might establish a 529 plan so you can get started on saving for their college education.

When should an estate plan address the issue of guardianship?

Although the tragedy of a minor child losing both parents is not that common, a comprehensive estate plan should provide for this contingency by naming a guardian. If a will doesn’t name a guardian, a court will most likely appoint a relative to the task.

Dean Smith raises awareness of revocable living trust benefits

Some Miami residents may have read about former University of North Carolina basketball coach Dean Smith and his unique estate planning choices. Coach Smith passed away last month. But just this week, he made headlines when his former players started receiving checks in the mail from their former coach.

When to seek a guardianship for your elderly loved one

Designating a guardian for an elderly loved one is an important option for families in Miami. The decision to seek guardianship, however, should only be made after careful consideration of the needs and abilities of the individual in question. At the Law Offices of Frye & Vasquez, P.L., we can help you understand whether your loved one may benefit from the protection that guardianship offers.

Business owners too often slow in updating estate plans

Time ticks on for all of us. For those with significant Miami business assets, the ticking can take on an ominous tone if they have been lax in creating an estate plan. Without such a plan, the business they have worked so hard in life to build and nurture might wither and collapse after the owner's death.

Should an estate plan contemplate the possibility of incapacity?

Life can be unpredictable. To plan for the unexpected, every individual should consider creating an estate plan. A recent article profiling a prominent businessman’s dispute with his heirs serves as an important reminder against being caught unaware.

Does your estate plan account for your life insurance proceeds?

The named beneficiary of a life insurance policy is usually an individual.  Yet there may be special situations where an attorney that focuses on wills and trusts may be needed to structure things differently.

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