Estate Planning

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | April 19, 2024 | Estate Planning

Even though Gen Z is the most tech savvy generation, it is critical for effective estate planning to get an attorney involved to ensure the plan achieves one’s goals and delivers the intended wealth and asset protections.

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | March 14, 2024 | Estate Planning

Life insurance can be an excellent tool in estate planning. For instance, life insurance can be used to ensure one’s estate has cash on hand to pay creditors, tax obligations, and other post-death expenses. One can also use life insurance proceeds to provide for specific beneficiaries either directly or in trust, with various tax benefits.

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | December 21, 2023 | Estate Planning

As you address your estate planning, you may begin to see more and more references being made to estate taxes. Most often, this is in reference to the federal estate tax, which you only pay if the taxable value of your estate exceeds the federal threshold (currently $12.92 million in 2023 and $13.61 million in 2024).

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | September19, 2023 | Estate Planning

It is never too early to create your estate plan to protect and provide for your loved ones. Wills, trusts, and other legal tools enable you to make your wishes known regarding the distribution of property to your heirs. However, it is also important to understand how your Individual Retirement Account (also known as IRA) works in connection with your estate plan.

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | July10, 2023 | Estate Planning

When creating your comprehensive Florida estate plan you should include your digital assets. Your digital assets could include a range of electronic records, including everything from social media accounts, like Instagram and Facebook, to digital photos stored in iCloud or Google Photos, to email, and even to online financial accounts, like Apple Pay, Google Pay, and cryptocurrency accounts. The following recommendations may help you know how to include digital assets in your estate plan while keeping them secure.

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | May 11, 2023 | Estate Administration & Probate

A Designation of Health Care Surrogate is a legal document that allows you to choose someone to make important healthcare decisions on your behalf if you are unable to do so yourself. Some of the benefits of having a Designation of Health Care Surrogate are:

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | March 15, 2023 | Estate Planning

Here are 7 of the most common estate planning mistakes people make:

1. Not Communicating with Your Heirs. Anyone who is assigned a role in your estate plan — agent, personal representative, trustee, etc. — should know what their responsibilities are once you pass away.

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | October 5, 2022 | Estate Planning

It goes without saying that one of the best days in your life, as you age, is the day you finally retire. Indeed, after decades spent putting in long days and making long commutes, you are finally free to enjoy the fruits of your labor, perhaps taking up a hobby full-time, relocating to a dream spot, or just enjoying the absence of an agenda.

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | June 1, 2022 | Estate Planning

Most gifts are not subject to federal income tax and do not need to be reported to the Internal Revenue Service as income. For instance, you can give a gift to your wife or make a philanthropic donation to a charity without their being subject to the gift tax. (In fact, charitable donations are often tax-deductible.)

On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | May 18, 2022 | Estate Planning

If you have a high school senior in your home, you know things are about to change. Most parents are so used to being able to make financial decisions for their child, access their child’s physician or health records that they don’t even think about how that changes once the child turns 18. You’ll want to be designated as your child’s agent