Check out some of our recent articles.
Life Insurance: Why You Should Keep Your Policies In-Force
Learn 10 consideration before canceling your life insurance policy.
Realtor and Real Estate Attorney Guide to Estate Planning
Learn the importance of why your real estate attorney should practice estate planning.
Art Law: It's Not Always a Pretty Picture
The following article is a summary of how your art is your legacy and the importance of planing wisely for its care and dispostion.
Risk Management Self Audit: Are You Exposed?
Learn about the tools and methods at your disposal to protect yourself and ease the many life uncertainties.
Donating Real Property to Charity
The following article is a summary of how the donating of real estate can be very rewarding and provide many benefits.
Tax Changes Under the Tax Cuts and Jobs Act of 2017
The following article is a summary of some of the changes that were made to the individual income tax rules.
It's Time to Think About Taxes- Year End Federal and State Tax Strategies
The following article examines year-end tax strategies and action plans.
A Guide to Smooth Probate Administration Involving Real Estate
The following article examines estate purchasing and the Probate process.
Back to Basics: A Self-Evaluation of Your Estate Plan
The following article examines estate planning and its dynamic process requires careful consideration and annual reevaluation.
Navigating Life Insurance (Part 1): Find the Best Policy for your Unique Situation
This series explores the many beneficial categories of permanent life insurance and how to incorporate them into successful wealth management strategies and estate plans. One of the most famous adages is the following: Buy term life and invest the rest. Is it true?
Top 5 Assisted Living Research Tips
Researching an Assisted Living Facility is a difficult and complicated process. The decision to move involves many factors including financial, lifestyle preferences, and health care needs. In addition, the emotional factor can never be understated.
A proper estate and long-term care plan can help ensure that our elders receive the care and respect they desire and deserve as they age. Attorney Adam Gross recaps elder law essentials.
There are several different types of trusts in Florida for disabled individuals that protect public benefits eligibility while offering additional financial stability. Selecting the best trust for each unique situation can make a huge difference in the future quality of life.
You have spent years, if not a lifetime, investing time, energy, and passion into your company. As part of your estate plan, establishing a method of transferring control of your business is imperative.
Naples was recently ranked the least-polluted city in America by realtor.com. It can be difficult to fully enjoy these benefits if mental pollutants such as stress or lack of planning for the future are invading your psyche.
If you’ve already invested or are considering purchasing real estate in Florida, please join us in a review of the important legal issues to consider.
This is the Year to Get Organized
What should your advisors focus on in 2017? The New Year offers an opportunity to reevaluate your current situation.
With the recent election of Donald Trump as the next President of the United States, the possibility of a “complete” repeal of the estate tax appears likely.
The IRS recently proposed expanded IRC Section 2704 regulations designed to prevent taxpayers from discounting the value of gifts, estates, and business interests on gifts between family members.
Title Insurance: Do Not Buy Your Home Without It
What exactly is title insurance? Title insurance provides protection against financial loss incurred in connection with the legal title to your property. A contested property title could result in the loss of your time, money or even worse, your home.
Art Law: It's Not Always a Pretty Picture
Not gold, securities or cash, it is art; precious, difficult to value and highly subjective as to taste. Art is an asset class that is often ignored in the estate planning process. Your art is your legacy! Plan wisely for its care and disposition.
Wollman, Gehrke & Associates, P.A. provides legal counsel in all estate planning issues. We are well qualified to draft your individual estate planning documents, including trusts, wills, and advance directives, all critical parts of any quality estate plan.
Philanthropy vs Charity: Two Sides of the Same Coin?
Both philanthropy and charity are motivated by compassion, a desire to make a difference, and aspiration to give of oneself to create a positive impact on society. But are they synonymous? The short answer is no.
The Do's and Don'ts of Giving Away Your Homestead
Careful estate planning now can result in the minimization or elimination of gift, estate, and income taxes on the transfer of your home to heirs. Failure to have a Will or Revocable Trust could result in your home passing under the Florida Intestacy & Homestead laws.
Ten Homestead Traps for the Unwary
Florida provides its residents very generous homestead protections and exemptions, but also restricts the ability to transfer the homestead. As a result, it is very important to understand these protections, how to apply for exemptions, common mistakes that can result in loss of benefits, and limitations on your transfer ability.
Total Return Unitrust Promotes Smooth Sailing
When drafting trusts, it's important to ensure that your Trustee is equipped with clear instructions. In this article, we explore some of the benefits of the Total Return Unitrust, including reduced tension between income beneficiaries, and the remainder beneficiaries.
To Fund Or Not To Fund Your Revocable Trust
Revocable trusts have been a powerful tool for estate planning attorneys for many years, but recent changes to federal law have made many trust-related decisions far more difficult. Now more than ever, nothing in estate planning has a cookie-cutter solution.
Choosing A Fiduciary - It's a Job, Not a Reward
The decision of who will serve as personal representative of your estate or trustee of your trust (fiduciaries) is one of the most important estate planning decisions yet is often made without much consideration.
Don't Judge a Book by Its Cover (Part I): Tips & Cautions Regarding
Reverse Mortgages, Annuities & Life Insurance
When you hear financial advisors recommending a reverse mortgage,annuity,
or life Insurance, your first impulse may be to run for the hills. Are
these always overpriced bad products can there be positive aspects?
Don't Judge a Book by Its Cover (Part II): Tips & Cautions Regarding Annuities
Are annuities a fantastic retirement vehicle or a bad investment promoted
by overzealous salesmen? This is Part II of a three part series covering
financial products given a black eye by a few bad financial advisors who
oversell unsuitable or improperly products.
Don't Judge a Book by Its Cover (Part III): Tips & Cautions Regarding Life Insurance
Life Insurance is an extremely valuable and essential financial tool that is too often used inappropriately. When purchased from a competent insurance professional, life insurance can be the ultimate in financial planning.
Hurricane Preparedness Checklist (Part I): What is Truly Important to You?
If your family was informed that they had only one hour to prepare for a hurricane and evacuate the area, what would you do? Are you totally ready?
Hurricane Preparedness Checklist (Part II): Planning for a "Healthy" Evacuation
Is your family ready to leave home on short notice in the event of a hurricane or other emergency? If you are mature in years, a caretaker, pet owner, diabetic, or someone with advanced medical issues, it's time to review or create your personal emergency health care plan.
Hurricane Preparedness Checklist (Part III): Obtain Homeowners Insurance BEFORE Hurricane Season
Don’t get stuck in the “Hurricane Box” from June 1st through November 30th as it will be difficult, if not impossible, to buy certain insurance coverage for peril of windstorm or hurricane damage. Learn more about scenarios that prompt insurance companies to stop binding coverage and new policies.
One of the fasted ways to derail an otherwise smooth real estate transaction is discovering close to closing that a deceased person is actually the property owner of record or there are chain-of-title issues. These are common occurrences in South Florida and can be colloquially referred to as “Deadly Deeds.”
Power of Attorney (POA): New Florida Statute
A durable Power of Attorney document allows you to designate someone to serve as your agent and have the general authority to make financial decisions on your behalf. This document is effective immediately upon execution. Learn more here about a new Florida statute.
Northern Death Taxes: Reason to Become FL Resident
Do you live in the Sunshine State, but also own real estate up north? If you're considering becoming an official Florida resident, state death taxes imposed by northern states are excellent incentives to make the move now.
New 'Perfect Storm' Conditions Lead to Huge Tax Savings
In the world of advanced estate planning there existed a "Perfect Storm" from 2008-2010 in the sense that financial and economic conditions were ideal for transferring one's estate to the next generation.
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, what the federal tax code will look like in 2013 seems a great mystery. Furthermore, "Obama Care" will have tax implications that impact estate planning.
Your Home(stead) is Your Castle - So Why Does Your Spouse Control its Disposition?
Florida Statute and the State Constitution protect your spouse from being disinherited. This is an excellent idea in theory. However, if the residence is solely in your name and you wish for someone else to inherit the property, it cannot be done without your better half’s consent.
Pet Trusts: Can You Place A Value on Man's Best Friend?
How do you place a numerical value on your most faithful companion? Although many treat pets as part of the family, technically pets are a property right or possession. Therefore, when you pass away this valuable “property” must be given to someone else for care.
Creating an Emergency Plan for Four-Legged Friends
While most pets should be seen by a veterinarian on a regular basis, it is equally important to have an emergency plan in case of the unexpected. From weather-related evacuations to sickness, an accident, or death, it is smart to be prepared.
"I Re-Titled My Homestead as Joint Tenants with Rights of Survivorship with My Children"
Too often estate planning lawyers hear that homeowners added their children onto the homestead title in order to avoid probate and/or paying estate taxes. This is rarely, if ever, a good idea.
Real Estate Law 101: How Should a Married Couple Take Title to Florida Real Property?
Question of the day: Are Tenants by the Entireties (T-by-E) the same as Joint Tenants with Rights of Survivorship (JTROS)? Although they appear very similar and are therefore often mistaken for one another, buyer beware. They are not similar.
Plan Your Estate - Don't Forget To Cover Your Assets
Florida is one of the best states for estate planning and asset preservation. Surely you’ve heard the expression, “A little knowledge goes a long way.” This is very true when it comes to protecting your assets from unforeseen creditors in the Sunshine State.
Downsizing 101: Getting Ready for the Transition
When it is time to downsize your home, you are the sole decision maker on what is truly valuable to you and what you may wish to give to family or charity.
Part I: Find the Best Policy for your Unique Situation
There are many great reasons to purchase life insurance. One of the most famous adages is the following: Buy term life and invest the rest. Is it true?