A Step-Up In Basis to Reduce Capital Gains
The step-up in basis reduces the capital gains tax on inherited assets. It is an effective way to preserve an inheritance and save money.
Homestead
Lady Bird Deed – Is It Something I Need To Consider?
A Lady Bird deed is a legal tool that allows an owner of “real property” to transfer it to a
beneficiary without the need to submit the matter to the probate court, which Florida law
would otherwise require.
Florida Probate in a Nutshell
Probate is a fancy legal term for the court-supervised process of determining what happens to a person’s property after they pass away.
Pandemic Planning-Wills, Trusts and More
People under the age of 65 account for more than 20% of COVID-related deaths in the US. However, young people are less likely to have estate planning documents, like a will or advanced directive, in place than those of older adults. This means that many people who are dying from coronavirus likely do not have documents in place to dictate who cares for their children or what happens to their home or money.
Florida Homestead—A Privilege and a Burden
The Florida Constitutional Homestead exemption can be viewed as both a privilege and a burden. A privilege as it offers protection, but a burden as it places limits as to what you can do with your property after death.