Titling Assets in Florida
The next time you open a new account or purchase a home, take a moment to contemplate how you want to title the asset, as the choice you make may produce significant impacts or unforeseen consequences in the future. Asset…
Heckerling Institute Summary – Part 2
As discussed in last month’s blog, the Heckerling Institute on Estate Planning is a five-day long program which takes place in Orlando, Florida. In our prior blog, we discussed the Secure 2.0 Act and the new Corporate Transparency Act of…
Heckerling Institute Summary – Part 1
Topics for this year focused on: The Secure 2.0 Act; Inflation Reduction Act; lessons in estate planning for the middle rich; trust situs issues; installment obligations; firing clients; and the United States Department of Treasury Greenbook, which focuses on tax proposals for the upcoming year(s).
What happens to your travel points when you pass away?
We all have that friend who loves to travel. Usually, that person is involved in some sort of company sponsored reward program that allows them to accumulate miles or points. This begs the question - what happens to those miles/points…
What Should Floridians Know About Community Property
Community property means that all property acquired between spouses during a marriage will be presumed to be owned as an undividable 1/2 interest by each spouse. This is an important concept for asset protection, divorce, and estate planning issues. With…
When Private Foundations Reach the End of the Road
Many families have created Private Foundations during their lifetime or at the death of a family member to carry out the family's charitable intentions for an extended period of time. Black's Law Dictionary defines Private Foundation as An organization which…
Social Media, Digital Assets and E-mail Upon Death (Part II of II)
In 2016, Florida enacted Chapter 740, a new law which became known as the law of Fiduciary Access to Digital Assets. This new law outlines the rules and procedures to allow Personal Representatives, Trustees and other fiduciaries the right to…
Social Media, Digital Assets and E-mail Upon Death (Part I of II)
In today's world, it is almost impossible to not have some sort of digital trail. A digital trail may include music, emails, frequent flyer points, family photos, videos, movies, information stored in the cloud and, of course, passwords. Some of…
How Do Creditors Affect My Estate When I Pass Away?
One of the reasons people try to avoid probate in Florida is because the probate process provides the deceased person’s creditors with an open forum to bring claims against the decedent’s estate. In a typical probate administration, a Personal Representative…
What are Nuptial Agreements?
Nuptial Agreements are contracts made between parties, either before or after they enter into a marriage, which address asset ownership and distribution in the event of divorce or death. Nuptial Agreements signed before the marriage date are commonly called Prenuptial…
Living Will vs A Do Not Resuscitate Order
Living Wills and A Do Not Resuscitate Orders are often confused because both documents address an individual's greatest fear: death. However, the two documents address vastly different scenarios. So, what is the difference? Living Will A Living Will (also known…
What is involved with starting a charity?
So, you are thinking about creating a new charity, also known as a tax exempt organization. There are several things you should keep in mind. The process to start a new charity that is recognized by the Internal Revenue Service…
Can I Bequeath My Home to a Beneficiary Who Has a Judgement Against Them?
A number of recent clients have expressed a concern about leaving their home to a child who has a judgement filed against them. The judgement could result from numerous places, such as any of the following: a civil court case…
Pros and Cons of Naming Multiple Fiduciaries
The phrase “checks and balances” might bring to mind the Founding Fathers, or memories from your middle school Social Studies class. However, a “checks and balances” system can also be considered with respect to estate planning. Naming multiple individuals to…
What are the income tax benefits of moving to Florida?
People move to Florida for an array of reasons. Whether to visit the beaches and the parks, to retire or just to escape the cold weather for a few months. The state has a lot to offer. But these are…
HELOCs and Home Equity Loans: The tax deduction may be curtailed. What does this mean for homeowners?
By Revis, Hervas & Goldberg P.A.On January 1, 2018, a new tax reform law became effective. It will affect the ability of many homeowners to deduct mortgage debt interest on their future tax returns.HELOC vs. Home Equity LoanA HELOC, or…
Happy New Year!
By Revis, Hervas & Goldberg P.A.We hope that all of our clients and friends had a joyous holiday and were able to enjoy time with friends and family.With the beginning of a new year, it is important to take some…
What are the Benefits of Using a Real Estate Attorney vs. a Title Company?
By Revis, Hervas & Goldberg P.A.Our firm practices real estate law and we hear this question frequently.A title company can prepare some of the same documents a s a lawyer would. However, only a lawyer can give you legal advice…
Are your children protected in case of a medical emergency?
By Revis, Hervas & Goldberg P.A.Florida’s medical consent laws were designed to protect patients from receiving medical treatment they do not want, and to protect doctors and hospitals who must sometimes make split-second decisions during medical emergencies. However, an untoward…
My family member died and had been leasing a safe-deposit box. How do I get whatever is in the safe-deposit box?
By Revis, Hervas & Goldberg P.A.A safe-deposit box can be a very useful tool. If you are someone who has expensive jewelry or collectibles, such as rare comic books, a safe-deposit box can help protect these assets. But, what happens…