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This Valentine’s Day Give Your Loved Ones Peace Of Mind

This Valentine's Day Give Your Loved Ones Peace Of Mind | Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

It's important to show the people we love how much they mean to us. For Valentine's Day this year, flowers and chocolates show that you care, but gifting Peace Of Mind will last long after the chocolates are eaten and the flowers have died. No one likes to talk about their future illness or death, but the best gift you can give your loved ones this Valentine's Day is to protect their futures. Telling your loved ones what's important if you become seriously ill or are at the end of your life will protect them from unnecessary stress and provide...

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New Year’s Resolution: Update Your Estate Plan

New Year's Resolution: Update Your Estate Plan | Florida Estate Planning Attorney Barry Siegel

Many people optimistically make a list of New Year's Resolutions on December 31 with promises to get healthy, learn a new language or stick to a budget. In the flurry of ending one year and starting a new year, most of those resolutions are quickly forgotten and broken during the 1st week of January. It's not too late to make an important New Year's Resolution: one that you can actually keep! In 2021, resolve to update your Estate Plan. And if you don't have a Will or an Estate Plan - resolve to make one! Make an appointment with an experienced Estate Planning...

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What Life Events Should Trigger an Estate Plan Review?

What Life Events Should Trigger an Estate Plan Review?| Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

You have an Estate Plan in place, so your property and family are protected, right? Not exactly. Sudden, and even planned, life events commonly result in a situation where your Estate Plan may not meet your intentions when you pass away. It is important to review your Estate Plan periodically, and, especially, after certain “trigger” events happen in your life. Why is an Estate Plan Important? A comprehensive Estate Plan is an essential part of protecting your assets and providing for future generations. It’s important to understand, however, that it’s not enough to simply create an Estate Plan and forget about it....

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Real Estate Ownership: Options for Owning a Primary Residence, Vacation Home or a Rental Property in Florida

Real Estate Ownership: Options for Owning a Primary Residence, Vacation Home or a Rental Property in Florida | Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real estate ownership and offer advice about the best form of ownership for each. Primary Residence  Because your primary residence receives special tax treatment, you should carefully consider how your home is owned. In some states, tenancy by the entirety offers married couples creditor protection from the creditors of one of the spouses (with a...

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National Estate Planning Awareness Week: 13 Estate Planning Terms You Need to Know

National Estate Planning Awareness Week: 13 Estate Planning Terms You Need to Know| Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

National Estate Planning Awareness Week is October 19 -25, 2020. Estate Planning is often overlooked, and it is estimated that  56% of Americans do not have an up-to-date estate plan, and do not understand many commonly used Estate Planning terms. Estate Planning—it is an incredibly important tool, not just for the uber-wealthy or those thinking about retirement. On the contrary, Estate Planning is something every adult should do. Estate Planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you become ill, minimizing taxes so you can...

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Do I Have to Pay a Florida Inheritance Tax?

Florida Estate Planning: Do I Have to Pay a Florida Inheritance Tax?

Florida has a reputation for being a tax-friendly state. There is no state income tax and Floridian's Social Security, retirement accounts and pension plan income are all free from taxes. Florida does not have a State estate or inheritance tax. These are two different types of taxes often called death taxes because they are paid after someone dies. Heirs and beneficiaries in Florida do not pay income tax on the money they inherit from an estate, called an estate tax, because inherited property does not count as income for income tax purposes. Someone who does not live in Florida but...

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Alex Trebek Is Defining His Legacy: How An Estate Plan Defines Your Legacy

Alex Trebek Is Defining His Legacy: How An Estate Plan Defines Your Legacy | Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

Alex Trebek, the famous host of TV game show Jeopardy!, recently announced that he will suspend further pancreatic cancer treatment if this round is unsuccessful. Trebek's new memoir, The Answer Is … Reflections on My Life was released on Tuesday. By writing the book, Trebek says he is able to define his own legacy. Part of his legacy is that all money he receives for the book will be donated to charity. How An Estate Plan Defines Your Legacy It isn't necessary to write a book to define your legacy. Creating an Estate Plan defines your legacy by making important end-of-life decisions...

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Free Estate Planning for Local 1st Responders & Healthcare Workers

Free to 1st Responders & Healthcare Workers Health Care Surrogate Designation and Living Will document preparation

As the global COVID issues continue to impact us here in South Florida, the Siegel Law Group in Boca Raton Florida is proud to provide essential Estate Planning documents free of charge to our community's healthcare workers and first responders. We are offering Health Care Surrogate Designation and Living Will preparation for free to local healthcare workers and 1st responders on the frontlines responding to the coronavirus crisis. Our community's essential workers safeguard us throughout this unprecedented crisis and our Estate Planning legal team wants to protect your family's future. The best time to secure your family’s future is now. We can...

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FAQs: Is It Better to Have A Trust Or A Will?

FAQs: Is It Better to Have A Trust Or A Will? | Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

Estate Planning options and jargon can be confusing. So how do you know the best way to transfer your property to your loved ones after you pass away? Many people will argue that a Will is the best method; while others recommend a Trust. In many cases, someone will have both a Will and a Trust. There are benefits and drawbacks to each. Your decision on whether it's better to have a Trust or a Will should take into consideration your personal concerns and priorities, as well as the nature of your estate and beneficiaries. First, let’s look at how Wills and...

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This Father’s Day, Gift Your Children Peace of Mind

Father and 2 Children: This Father's Day, Gift Your Children Peace of Mind | Florida Estate and Elder Law Attorney Barry D. Siegel at The Siegel Law Group, P.A

Father's Day falls on Sunday, June 21. Traditionally, children give their dad a gift on Father's Day to show they love them. This year, for Father's Day give your children the gift of peace of mind and protection. Planning for your end-of-life can be uncomfortable and even frightening, which may explain why nearly 60% of Americans don’t have a Will or Trust. There are many reasons adults don't have a will, including: • They're too young to have a Will or Trust • They don't have enough money and assets to need a Will or Trust • It's too expensive to create a Will...

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