In my previous post, I discussed why a Will is essential for almost everybody, so that a person can decide how his property is disposed of upon his death, instead of having the State decide for him, per a preset list of rules. And while planning for what happens after death is a large part of… Read More
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Two Updates in the Anna Nicole Smith Case
As I Iook out the window of my office, I can see the Broward County Courthouse. As an estate planning attorney who also practices probate administration, having an office across the street from the courthouse makes attending hearings very convenient. But today, as I look out at the Courthouse I am reminded of what triggered… Read More
Time Magazine: Another Victim of the Ponzi Schemers: The IRS
Time magazine published an article today discussing what many tax attorneys and CPAs had already been discussing amongst themselves on internet listservs and at wild and crazy tax attorney/CPA parties for the past few months — the massive amount of tax refunds that are going to be filed for by victims of Bernard Madoff and… Read More
Jon Stewart vs. Jim Cramer
One of the greatest issues facing estate planners today is the vast decline in so many of our clients’ wealth. This is especially true in South Florida where the real estate market has collapsed, and Bernie Madoff’s clients abound. The list of people whose “fault” this is is too long to post here. But certainly… Read More
Charitable IRA Contributions Still Available in 2009 (Even Though RMDs Aren’t Required)
The year 2009 is shaping up to be interesting when it comes to making decisions regarding your IRA. First, despite the mini-rally of the past four days, the market is still at a longtime low. But second, there are two unique and temporary laws that have never coincided before. First, Congress enacted a law late last year… Read More
Update: Court Stays out of Anna Nicole Smith Case
Just a quick update to my earlier post on Anna Nicole Smith’s attorneys petitioning the Supreme Court to intervene in their case. According to Howard Bashman’s How Appealing Blog, the AP is reporting that “”Supreme Court Justice Anthony Kennedy has turned down a plea for help from the estate of Anna Nicole Smith in a… Read More
The three “types” of Homestead in Florida, Part II (A) — Protection from Creditors
This is the second of three (actually four) posts regarding the different “types” of Homestead in Florida. In my previous post on the subject, I discussed “descent and “distribution,” in which the state sets forth the rules governing the situations in which your Homestead may, and may not be disposed of upon your death. Today,… Read More
Recent Private Letter Ruling Shows Need for Precision and Specificity in Drafting Documents
One of the issues in drafting estate planning documents is that if there is a mistake in the will or the trust, it is often not discovered until many years later after the testator or grantor has passed away. Sometimes these errors are glaring, such as naming the wrong person in the will. But ofttimes,… Read More
New York Times: Review Your Estate Plan Now, Before Laws Shift
On February 25th, the New York Times published an article entitled Study Estate Plans Before Laws Shift. The author Deborah L. Jacobs, points out what most estate planners have been saying for a while — that there is going to be a new law (hopefully) by the end of 2009. With the lifetime exemption most likely… Read More
The Three Types Of Homestead in Florida: Type 1 — “Descent and Distribution” of your Property upon Death
If you live in Florida and own your own home, you have probably heard of the term “Homestead.” Most people in Florida think of Homestead in terms of their real property taxes — both in the exemption from taxes that they receive, and the amount by which their taxes can be raised each year. In… Read More
