Blog Posts in 2012

What we Know..What We Don't Know

What We Know....What We Don't Know As an estate planner, this is a very confusing time. Why? With the upcoming election and continued Congressional gridlock, no one seems to know exactly what our federal tax code will look like in 2013. In addition, the further implementation of the Patient Protection & Affordable Act (“ObamaCare”) will have tax implications that will effect estate planning now ...

Huge tax savings from "New Perfect Storm"

“New Perfect Storm” conditions lead to huge estate tax savings.... In the world of advanced estate planning there existed a “Perfect Storm” from 2008-2010. A perfect storm in the sense that conditions were ideal for transferring ones estate to the next generation at an incredibly low gift and estate tax cost due to historically low federal interest rates and extraordinary low asset values. Today, ...

Northern Death Taxes - Another Reason to be a Floridian

Do you live in FL and own northern real estate? You may want to consider becoming a Floridian. State death taxes imposed by northern states may be the best reason to make the move now. Florida does not impose a state death tax, however, sixteen states do impose an estate tax and eight states impose an inheritance tax. Many of these states are the same states that Neapolitans flee in the winter and ...

Florida Changes Power of Attorney Statute

Sweeping changes have taken place with the new Durable Power of Attorney statute in Florida, which went into effect on October 1, 2011. It applies to all power of attorneys regardless of when they were executed. So, the question that everyone is asking is, “do I really need to sign a new POA?” If your existing POA is valid prior to October 1, 2011, then it will remain valid. However, the new POA ...