Call Us For A Complimentary Consultation

Hablamos Español

Facebook

Twitter

Linkedin

Youtube

How To Prepare For The Inevitable Estate Planning Conversations During The Holidays

How To Prepare For The Inevitable Estate Planning Conversations During The Holidays

Whether you want to or not, inevitably conversations about Estate Planning, wills and inheritance come up during the holidays. Here are some tips to prepare for the sensitive estate planning conversations with your loved ones - parents or children - during the holidays. Discussing Estate Planning with your family is never easy. It is even more difficult during what should be a happy gathering during the holiday season.  Rip The Bandage Off And Start The Convo Yourself You might be reluctant to discuss the inevitable with your parents, siblings or your own children. However, you can start the conversation yourself by ripping...

Continue reading

2 Legal Documents An Adult Child Needs When They Turn 18

2 Legal Documents An Adult Child Needs When They Turn 18

Once your child turns 18, you and your partner are no longer legal representatives. There are two legal documents an adult child needs to make their own financial and healthcare decisions, an Advanced Directive and Power of Attorney. A South Florida Estate Planning Attorney can assist your child with these documents–learn what makes them so important.  1. Advance Directive An Advance Directive, or Advance Healthcare Directive, is a legal document detailing a college student’s preferences and wishes if, for any reason, they cannot make healthcare decisions for themselves. This legal document ensures the person's instructions are followed in the event of an acute...

Continue reading

National Estate Planning Awareness Week October 17 – 23, 2022

National Estate Planning Awareness Week October 17 - 23, 2022

National Estate Planning Awareness Week is the week of October 17-23, 2022. It is the perfect time to review your current Estate Plan, or create one if you have yet to do so. If you do not have an Estate Plan, you are one of the 66% of people who do not have a will, according to the Caring.com 2022 survey. Check out these Estate Planning tips and debunked myths from our South Florida Estate Planning attorney so you know you are headed in the right direction. Caring.com’s 2022 Wills Survey 6 Myths and Facts About Estate Planning Be Prepared For Estate Planning...

Continue reading

What Is The Inflation Reduction Act and How Does It Impact Florida Estate Planning?

Inflation Reduction Act

The recently passed Inflation Reduction Act replaced the proposed Build Back Better Act.  It covers many topics, and it is challenging to determine what will affect you. It is now a bill of law, and while the name suggests it is meant to focus on inflation, there are other areas of concern. You will also want to know how it will affect your Estate Planning but more on that later. First, let's review some of the bill's highlights.  Key Provisions of the Inflation Reduction Act The Corporate Minimum Tax Rate Tax rates on individuals and households will see no change, but corporations making...

Continue reading

Legacy Planning: Does Your Family Pay Capital Gains on Inherited Property?

Inheritances are great for the next generation, but they can complicate taxes. How can you avoid that? How can you leave a legacy to your family without also leaving a large tax burden for your children and grandchildren? The Estate Planning lawyers at The Siegel Law Group can assist. We’ve helped hundreds of people get their affairs in order, bringing them peace of mind in the years ahead. What Taxes Might Beneficiaries Have to Pay on Their Inheritance? Depending on the amount of the estate and other aspects of your particular situation, an inheritance might be subject to estate tax, inheritance tax, and/or...

Continue reading

Did Naomi Judd Leave Her Daughters Out Of Her Will? Understanding the Role of an Executor and Their Importance in Estate Planning

Did Naomi Judd Leave Her Daughters Out Of Her Will?

Understanding the Role of an Executor and Their Importance in Estate Planning American country singer and actress Naomi Judd passed away earlier this year, and when it was recently released that her husband was named executor of her Will, tabloid newspapers were quick to announce that her daughters, Wynonna and Ashley Judd, had been excluded from her Will.  However, not being named executor of their mother’s Will doesn’t prevent them from receiving an inheritance. Naomi Judd may have already taken care of her daughters via other Estate Planning tools such as Trusts, or perhaps with prior gifts before her passing; they may even...

Continue reading

Guardianship Versus a Durable Power of Attorney

If you're considering whether you want to set up a guardianship or a durable power of attorney, it's vitally important that you understand the difference between the two options. In short, a durable power of attorney allows someone else to handle affairs for you through a delegation of rights. A guardianship prevents people from making decisions that are going to be against their best interests, by giving someone else control over their options and what they're allowed to do. An estate plan with a durable power of attorney would be more favorable when a person becomes incapacitated, as opposed to a...

Continue reading

April 16th is National Health Care Decision Day 2022

April 16th is National Health Care Decision Day 2022

April is National Healthcare Decisions Month, and April 16 is National Health Care Decision Day 2022. NHDD was founded in 2008 by a healthcare lawyer as an initiative to encourage friends, families and loved ones to talk about what their medical preferences are if they become incapacitated or seriously ill.  It highlights the importance of writing a Living Will and choosing someone as your Durable Power of Attorney for medical decisions. This year, on April 16, recognize National Health Care Decision Day 2022 by making sure your healthcare wishes are legally documented and that your family is aware of your choices.  Why National...

Continue reading

What Does Payable On Death (POD) Mean?

beneficiary: What Does Payable On Death (POD) Mean?

You may have heard the terms Payable on Death (POD) and Transfer on Death (TOD), but do you understand their importance? When should each be used? Do you need a POD? An experienced Estate Planning Attorney can answer these and many other questions. What is a Payable On Death? A Payable On Death (POD) is a legal document that is utilized to transfer money in your bank accounts, money market accounts, and certificate of deposits to a beneficiary upon your death. Having a POD in place bypasses the probate courts by moving the money into the desired person’s account instead of waiting...

Continue reading

What is a Transfer On Death (TOD)?

What is a Transfer On Death (TOD) Deed?

When working through your Estate Plan, there are many options. Should you use a Will or Trust? Who are your beneficiaries? Should your assets be established as Transfer on Death or POD? Working with an experienced Florida Estate Planning Attorney will help ease the confusion and establish a customized Estate Plan. What Is A Transfer On Death? A Transfer on Death is an instrument or deed that is used mainly with stocks, bonds, a brokerage company and retirement accounts such as a 401(k) and an IRA. Transfer On Death (TOD) deeds are named beneficiaries that receive assets after the death of the...

Continue reading