Duties of an Executor

An executor is responsible for managing your estate after your passing. Their duties include paying outstanding debts and taxes, distributing assets according to your will, and handling probate proceedings. Executors must act in the best interest of your beneficiaries and follow all legal requirements closely to avoid unnecessary delays or disputes.

The executor also ensures that your final wishes are carried out properly, including charitable contributions, specific bequests, or guardianship arrangements for minor children. They are the main point of contact for attorneys, accountants, and financial institutions, making their role critical in executing your estate plan smoothly.

Choosing the Right Person

Selecting someone you trust is essential when naming an executor. They can be family members, friends, or a professional fiduciary. According to Florida probate law, an executor must be at least 18 years old and of sound mind. Choosing the right person often requires considering more than just trust—it is helpful to select someone who is organized, detail-oriented, and capable of handling complex responsibilities.

In some cases, naming a professional or corporate executor may be advantageous, especially for large or complicated estates. Professionals can navigate legal and financial processes with expertise, which can be particularly valuable if your estate includes business interests, multiple properties, or unique assets.

Responsibilities and Challenges

The role of an executor can be time-consuming and involves meticulous record-keeping, effective financial management, and regular communication with beneficiaries. Executors may encounter challenges such as resolving disputes among heirs, coordinating asset valuations, or navigating complex investments and real estate holdings.

Understanding the full scope of executor duties can help your chosen representative feel confident and capable. Executors may also need to manage taxes, insurance, and debt payments, all while ensuring that legal deadlines and court requirements are met. For families without a clear plan, these tasks can become overwhelming, potentially leading to delays or conflicts.

Getting Professional Support

Even experienced executors can benefit from professional guidance. France Law Firm assists both estate planners and executors throughout the probate and estate administration process. Our team ensures that all legal and financial responsibilities are handled correctly and efficiently.

By working with an experienced estate planning attorney, executors receive guidance on navigating Florida probate law, managing complex assets, and maintaining clear records. This support not only reduces stress for the executor but also provides peace of mind for the family, ensuring that your estate is managed according to your wishes.

Preparing Your Executor

It is also essential to prepare your executor in advance. Providing clear instructions, access to necessary documents, and an overview of your assets can help them perform their duties with confidence and efficiency. France Law Firm can help create estate plans that are easy to follow and legally robust, minimizing potential confusion or disputes.

Next Steps

Choosing the right executor is a key part of a well-structured estate plan. France Law Firm specializes in guiding clients through this process, from selecting a trustworthy person to providing ongoing support during estate administration. By planning carefully and seeking professional guidance, you can ensure your estate is handled smoothly and your loved ones are protected.

To learn more about selecting an executor and creating an effective estate plan, schedule a consultation with France Law Firm today.

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Legal Consequences of No Estate Plan

When someone passes away without a will or estate plan, Florida law determines how their assets are distributed. These intestacy laws follow a strict formula that may not reflect your personal wishes. Assets could be divided among relatives you did not intend to benefit, while individuals you care deeply about may receive less or nothing at all.

This situation can be especially concerning for parents of minor children. Without an estate plan, the court may appoint a guardian based on legal standards rather than your preferences. This decision could overlook trusted family members or close friends you would have chosen yourself. Court involvement can also lead to increased delays, costs, and emotional strain for your family.

Financial Impacts on Your Estate

The financial consequences of not having an estate plan can be significant. Assets that are not properly planned for often must go through probate, a court-supervised process for settling an estate. Probate can be time-consuming and expensive, with court fees, attorney fees, and administrative costs reducing the value of the estate.

Taxes are another important consideration. Without proper planning, your estate may be subject to higher estate and gift taxes, leaving less for your heirs. According to the Internal Revenue Service, strategic estate planning can help reduce tax exposure and preserve more of your wealth for beneficiaries. Thoughtful planning may also help avoid unnecessary tax complications for surviving family members.

Family Conflict and Emotional Stress

Beyond legal and financial concerns, a lack of planning can create tension among family members. When instructions are unclear or missing, disagreements over asset distribution, responsibilities, and decision-making authority are more likely to arise. These disputes can damage relationships and lead to prolonged legal battles.

An estate plan helps reduce uncertainty by clearly outlining your intentions and wishes. By naming decision-makers and beneficiaries in advance, you provide clarity that helps your family focus on healing rather than resolving conflicts.

Protecting Loved Ones and Your Wishes

An estate plan allows you to decide who receives your assets, who manages them, and who will care for your children or dependents if you are no longer able to do so. You can also include instructions for charitable giving, healthcare decisions, and long-term care planning.

Documents such as wills, trusts, powers of attorney, and healthcare directives work together to ensure your wishes are respected during your lifetime and after your passing. This level of preparation helps protect vulnerable loved ones and ensures that important decisions are made by people you trust.

Why Working With an Attorney Matters

Estate planning involves more than filling out forms. Laws change, family dynamics evolve, and financial situations become more complex over time. Working with an experienced attorney helps ensure your plan is legally sound and tailored to your specific goals.

France Law Firm provides comprehensive estate planning services designed to protect clients and their families. Whether you need a simple will or a more complex trust-based plan, proper legal guidance can make a meaningful difference.

Next Steps Toward Peace of Mind

Creating an estate plan is not only about preparing for the unexpected; it is also about ensuring that your wishes are fulfilled. It is about providing clarity, security, and protection for the people who matter most to you. France Law Firm focuses on wills, trusts, and estate planning strategies that align with your goals and comply with Florida law.

If you are ready to take the next step, schedule a consultation to begin building an estate plan tailored to your unique needs. Planning today can help spare your loved ones unnecessary stress tomorrow.

The post What Happens Without an Estate Plan appeared first on France Law Firm.

While planning for the future, you must consider certain factors, such as safeguarding your loved one’s government benefits and providing financial stability. An estate planning attorney at France Law Firm can help you create an estate plan that benefits your unique situation.

The Impact of Inheritance on Benefits

One of the primary reasons for creating an estate plan when you have a loved one with special needs is to provide for him or her. However, a direct inheritance can jeopardize your loved one’s eligibility for Supplemental Security Income (SSI) or Medicaid.

It takes special planning to provide for a loved one after your death without jeopardizing his or her much-needed government benefits. Florida law allows for special trusts that protect your loved one’s government benefits.

Key Estate Planning Tools for Special Needs

Some of the key estate planning tools to protect your loved one’s benefits include:

Special Needs Trusts

A special needs trust (SNT) creates a fiduciary relationship that allows a special needs person to receive income without reducing or removing his or her ability to receive government disability benefits from Supplemental Security Income and Medicaid programs.

It does not replace benefits but supplements them instead. Proceeds from the SNT can pay for medical expenses, transportation costs, caretakers, and other needs.

The trustee, a person you trust implicitly, controls the trust and oversees its management, including the disbursement of funds.

Third-Party Special Needs Trust

A third-party special needs trust can pass to other heirs after the beneficiary dies. Someone other than the beneficiary funds a third-party trust.

First-Party Special Needs Trust

The beneficiary funds a first-person SNT with assets, such as a settlement or an inheritance. After the beneficiary dies, the trustee may have to use any remaining funds in the trust to pay benefits back to the state.

Pooled Trusts

Some nonprofits manage pooled trusts for multiple beneficiaries. These trusts are generally helpful for smaller amounts if a private trustee is unavailable.

ABLE Accounts

Another estate planning option for a special needs person is an ABLE account, a savings or investment option created by Section 529A of the Internal Revenue Service tax code. These accounts allow someone whose disability began before 26 the age of to save money without affecting federally funded benefits.

The growth in these accounts is not subject to taxation. Beneficiaries can pay for qualified disability expenses.

Steps to Creating an Estate Plan for a Special Needs Person

Always consult with experienced asset protection attorneys when creating an estate plan, especially when the plan must include an SNT.

• Do not name a special needs person as a direct beneficiary on retirement plans, financial accounts, or life insurance.
• Update your will and beneficiary designations.
• Fund an SNT with life insurance.
• Appoint a guardian where applicable.
• Create a letter of intent that details the special needs person’s routines, medical information, preferences, and care instructions.

Review and Update Your Estate Plan Regularly

You must update your estate plan each time you have a significant life change, such as marriage, divorce, the birth of a child, a death in the family, or a substantial investment. If you do not have a significant life change within three years of your last life change, contact France Law Firm to update your estate plan, as probate and federal taxation laws change frequently.

Don’t Leave Your Loved Ones in a Bind

Contact a wills and estate lawyer at France Law Firm at 850-224-1040 or by completing our online contact form for a consultation to create or update an estate plan or to create a special needs trust.

The post How to Plan for Special Needs Family Members in Your Estate appeared first on France Law Firm.

What Are Blended Families?

Sometimes referred to as stepfamilies, blended families are those where the original spouses remarried or created a new partnership after ending a previous relationship. In most cases, one or both spouses bring children from previous relationships into the new family. It can happen due to divorce or the death of a spouse.

Blended families can include children of one or both spouses being brought into the new family and / or new children born of the new marriage or partnership. Everyone must adjust to the new family roles and manage the complexities of co-parenting with ex-spouses.

Challenges of Estate Planning for Blended Families

One of the biggest challenges of estate planning for blended families is conflicting interests. Your biological children may believe they should receive more, while stepchildren may fear being left out. They are competing interests that require careful consideration.

Another challenge is providing for your current spouse while ensuring children from a previous relationship receive their fair share of the inheritance. This can be tricky, especially if you have substantial assets or if your current spouse and stepchildren do not get along. It can take some creative estate planning to protect your assets and ensure equitable distribution.

Addressing these challenges head-on can help protect assets and ensure they go to the person you wish.

Clarify Goals and Priorities

When planning your estate for a blended family, it is imperative to clarify your goals and priorities. Different family dynamics and financial situations require a clear understanding of what you want to achieve – and what matters the most to you and your family.

Your objectives might include financial security for your spouse, biological children, stepchildren, or other dependents and minimizing potential conflicts between family members from your previous family and current family.

Once you set your objectives, you can prioritize your beneficiaries and assets. Consider how you want your assets distributed while keeping potential challenges such as fair distribution between your original family and your new family.

Communication and Transparency

You can significantly minimize fighting and lawsuits against your estate when you communicate with your loved ones and are transparent with them. Make sure you discuss your wishes openly with your children, your spouse – and other relevant parties. When you are transparent with your family members, it goes a long way in preventing misunderstandings and can mitigate future disputes. Additionally, when you involve your family members in the decision-making process, they can better understand why you make the choices you make.

Choosing the Right Estate Planning Tools

When you have a blended family, it is important that you choose the correct estate planning tools. Because of the unique dynamics involved in estate planning, you should choose select strategies and documents that accommodate your diverse familial relationships and financial considerations.

• Wills: The foundation document in estate planning, a will outlines how you want your assets distributed. A carefully drafted will can address the complexities of a blended family and the degrees of financial dependence. It can also clarify beneficiaries and specify asset distribution to help minimize potential conflicts.
• Trusts: Add more flexibility and control over the distribution of your assets. Florida has several types of trusts that allow you to transfer assets to beneficiaries, including a revocable living trust, which allows the transfer and modification of assets during your lifetime. A revocable living trust allows you to provide for children from previous marriages and stepchildren – and can evolve as priorities and circumstances change.
• Beneficiary Designations: Life insurance policies, retirement plans and investment accounts all allow you to name a beneficiary. Be sure to update beneficiary designations to reflect your current family structure.
• Powers of Attorney: Florida has two types of powers of attorney: Financial and health. These documents allow for decision-making should you become incapacitated. You can name one or more powers of attorney on each type of document, though we recommend naming one person on each document. It can be the same person.
• Advanced Directives: Your advanced directives instruct your medical professionals on certain actions to take in certain circumstances, such as long-term comas and health issues that could cause your death.

Seek Professional Advice

Contact a Florida estate planning attorney at France Law who has experience in handling the estates of blended families to ensure your wishes are documented and legally enforceable.

The post Estate Planning for Blended Families: Protecting Your Assets and Loved Ones appeared first on France Law Firm.

The saying “The only things certain in life are death and taxes” holds true, but individuals can exercise control over their financial destinies by adopting smart financial decisions for optimal tax outcomes. Year-round tax planning offers a proactive approach, allowing individuals to make informed choices that can lead to significant savings during tax season. Seeking guidance from a business attorney with expertise in estate planning is invaluable in navigating factors such as retirement accounts and staying abreast of tax law changes.

Components of Year-Round Tax Planning

To effectively engage in year-round tax planning, continuous analysis of one’s financial situation is imperative. Regular scrutiny enables informed decision-making to minimize tax liability, presenting numerous opportunities throughout the year to achieve this goal. Key components include:

Review Your Financial Situation

Regularly assess investments, income, and expenses. Major life events, such as marriage, childbirth, career changes, and the loss of a loved one, should be carefully considered as they impact tax situations.

Check Withholding and Deductions

Ensure that withholding allowances are appropriately set to prevent overpayment or underpayment. This practice ensures that the IRS doesn’t hold onto your money without interest.

Investing

Understand the tax consequences of investments, particularly distinguishing between short-term and long-term capital gains, with the former usually subject to higher tax rates.

Tax-Advantaged Accounts

Contribute to tax-advantaged accounts like 401(k)s, Health Savings Accounts, and IRAs. Such contributions not only reduce taxable income for the year but also provide long-term financial benefits.

Stay Informed of Tax Law Changes

Tax laws are subject to constant change, impacting tax liability. Collaborating with Florida tax attorneys can help stay informed and make well-informed financial decisions.

Charitable Giving

Seek opportunities for tax-deductible donations to qualified charities and maintain detailed records of charitable contributions.

Retirement Planning

Leverage strategic financial planning for retirement, taking advantage of tax breaks and employing tax-efficient withdrawal strategies from retirement accounts.

Estate Planning

Utilize estate planning to minimize tax burdens, protect assets during incapacitation, and secure financial interests for future generations.

How Estate Planning Eases Current Tax Burden

Contrary to common misconceptions, estate planning is not exclusive to the wealthy. Anyone with assets, including a car and a bank account, benefits from an estate plan. Estate planning serves various purposes, such as:

• Protecting assets during unexpected incapacitation.
• Addressing capital gains, estate taxes, and probate costs.
• Tackling current taxes through gifting, charitable giving, and trusts.
• Reducing the taxable value of the estate.
• Safeguarding assets for future generations.
• Preventing excessive IRS deductions.

Implementing year-round tax planning and crafting an estate plan empowers individuals to minimize tax burdens through strategic donations and wise investment decisions. It facilitates informed decision-making during significant life changes like marriage, parenthood, relocation, or home building.

Consult the Tax Attorneys at France Law Firm

For personalized tax planning and guidance on creating a year-round tax plan, individuals can turn to the tax attorneys at France Law Firm. Schedule a tax planning consultation to embark on the journey of comprehensive year-round tax planning that aligns with your financial goals and minimizes tax liabilities.

The post Year-Round Tax Planning: Making Smart Financial Decisions for Optimal Tax Outcomes appeared first on France Law Firm.

Wills

A will distributes your assets after your death. It can also “pour” assets into a trust, include instructions for your heirs to take after your death, appoint executors and guardians, and even instruct your loved ones how to handle your funeral and burial.

Florida wills must be signed and witnessed by two witnesses. It does not need to be notarized. However, most people notarize their wills. A notarized will is self-proving, which speeds up the probate process. If a will is not self-proving, witnesses may have to provide testimony in probate court.

After your death, your estate planning attorney files the will with the probate court to start the probate process. The will is publicly available.

Trusts

A trust is a legal arrangement that allows you – the grantor – to transfer assets to a trustee. The grantor creates terms that tell the trustee how to manage the assets in the trust.

A trust is different from a will in that once the grantor transfers assets into the trust, it becomes effective. The two main types of trusts are a living trust and testamentary trust. The grantor creates a living trust during his or her lifetime. Directives in a will create a testamentary trust after the death of the grantor.

When you create an estate plan, you choose a trust that best benefits you during life and after death. A revocable trust is one that you can change or terminate when you want. An irrevocable trust is one that you cannot change.

The grantor of a revocable trust can also serve as a trustee. The trust usually names a successor trustee who takes over as trustee should the grantor / trustee become incapacitated or die. The assets in a revocable trust do not need to go through probate, though the assets are included in your taxable estate since you retain control over them.

When you create an irrevocable trust, you give up the ownership rights to the assets you place in the trust. The trustee cannot be the grantor. When you give up all control and interest in the trust assets, the income the trust creates is not included in your taxable income or your estate. If you structure the trust properly, it protects your assets from your creditors.

Special-Purpose Trusts

You might wish to do something different with your assets. Thus, the law has created special-purpose trusts. A charitable trust benefits charities but provides economic return to the grantor or the grantor’s beneficiaries. The assets in the trust support regular payments to your chosen charities. These trusts usually have a term. When the term ends, the beneficiaries receive the assets. A charitable trust could decrease gift taxes, estate taxes, and realize taxable income for you.

A special needs trust is one that provides for someone with disabilities that prevent the person from working. The disabled person receives financial support from the trust without putting their eligibility for public assistance programs in jeopardy.

Whether you choose a will, trust, or both depends on your personal situation. An estate planning attorney will review your financial picture and suggest the best way to structure your estate so that it best benefits you during your lifetime and your heirs after your death. As you age, you can change the structure of your estate to best reflect higher earnings and more assets.

Contact Us

If you do not have an estate or need to make changes to your estate, contact the probate attorneys at France Law today for a consultation.

The post The Basics Of Wills And Trusts appeared first on France Law Firm.

Setting Up an S Corporation

Some people prefer to choose another entity type because of the extra work needed to set up an S Corporation. However, the benefits you get by incorporating as an S corporation outweigh the minor hassle of setting this business structure up. You do not pay corporate taxes since the taxes pass through to the company’s owners. You have to set your company up as a limited liability company or a C corporation, then file IRS Form 2553 to elect S corporation taxation. However, not all LLCs and C corporations are eligible for the S corporation status. A business tax attorney at France Law can help you determine if your company is eligible.

Tax Benefits of Electing S Corporation Status

You can take advantage of three benefits of setting up as an S corporation, including:

No Double Taxation

If you incorporate as a C corporation, you pay taxes twice: Once as your business and then again as a shareholder. When you incorporate as an S corporation, you do not pay taxes as a business. Instead, the tax burden passes through to the shareholders so that you do not pay taxes twice on the same income.

You pay income on the profits your company makes. Once you deduct the taxes, the rest of the profit is distributed to your shareholders. The shareholders then pay taxes on that income – the very same income you just paid taxes on.

Shareholder / Employee Status

Limited liability company members are not classified as employees. However, if they choose to elect the S corporation status, they are then employees and have to collect a salary. However, the members must actively participate in the business.

Since they collect a salary, the employer pays half of the FICA, and the member pays the other half. However, if the salary is reasonable, S corporation holders can elect to pay part of the salary as a regular paycheck and distribute dividends as part of the salary. You do not pay FICA on dividends.

However, the Internal Revenue Service watches to ensure that shareholders / employees do not take advantage of this. You could pay a $60,000 salary plus $15,000 in dividends to make up a $75,000 yearly salary but would run into trouble with the IRS if those numbers were reversed.

Limited Liability Protection

An S corporation takes on the protections of the original entity. The S corporation starts as a C corporation or a limited liability corporation; thus, it has the protections that those two entities provide. You can allow creditors and others to pierce the corporate veil if you personally guarantee a debt – but only for that particular debt.

Contact Business Law Attorneys at France Law

Setting up a new company is often complicated, especially if you have several members or shareholders and employees. Business law attorneys at France Law can help you set up your company in the manner which is best for your situation.

Our tax attorneys can also help you prepare your financial statements, issue W-2 forms and file your taxes, including the 1120-S form required for S corporations. Contact France Law today for a consultation to learn more about setting up a business as an S corporation to take advantage of the available benefits.

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If you are ready to create an estate plan, contact the probate attorneys at France Law Firm for a consultation today. The attorney will give you a worksheet to fill out that tells her what information is required to create your estate plan. When completing the worksheet, keep these mistakes in mind so you can try to avoid them.

Plan for Life and Death – Not Only Death

Most people believe that a will only addresses what happens after you die. However, preparation should also include advanced directives that tell your family and doctors what to do should you become incapacitated because of an accident or a disease, such as dementia.

Don’t Forget About Beneficiaries

While your will transfers assets after your death, some beneficiary designations trump a will. Those include beneficiaries on insurance policies and financial accounts. Don’t name someone as the new owner of an account when you have a different beneficiary on the account.

Burial Wishes

Don’t put your burial wishes in your will. Often, these documents aren’t read until after your funeral. Write a separate letter to your family, and make sure you tell them verbally what you want. Also, be sure that more than one person knows where you put the letter or give it to several close relatives with instructions to open it on your death.

Digital Life

Don’t forget about your digital life. Leave instructions on how to access your digital accounts so that someone can retrieve your digital photos and close the accounts before your credentials fall into the wrong hands.

Elderly Relatives and Friends

Make sure that your wishes don’t tromp on other’s finances. You might want to leave cash to someone on government benefits, but those benefits could disappear if they get an infusion of money or valuable assets. However, if the cash or assets are not enough to support the person, he or she could lose those benefits.

Don’t Rely on Others’ Statements

Your children and other relatives might tell you to leave your estate to one or more people and leave out others because they are getting an inheritance from another relative. Never rely on this information as that might not be true – and you would end up cutting loved ones out of what you want for the benefit of those who made the “misstatement.”

Know What is in Your Will

Make sure you know what is in your will. If relatives draw up a new one and ask you to sign it in the hopes that you won’t read it or won’t understand it, they could change your wishes without you knowing. The only way that would be caught is if the wrong-doers do not include another person and that person disputes the will. Always take documents that another person had drafted for you to your estate probate attorneys.

Naming the Wrong Person as Your Executor

The executor of your will pays any debts you owe and disperses your assets. However, this should be a person that you trust. If the executor is not up to the task or abuses your trust, it could create a big mess for your heirs. Make sure the person you name will not misappropriate your assets for his or her personal gain and that the person will follow your wishes.

Guardians

If you have minor children or adult children who need life-long care, be sure to name a guardian for them. You should name a second guardian in the event that the first person cannot become a guardian or dies before you.

Assets

Don’t miss any assets. Take your time listing your assets. If you forget an asset, it will have to go through probate and become subject to Florida’s probate laws for distribution.

Updating

Finally, do not forget to update your will. If you buy or sell assets, someone named dies, someone has a new baby, or other life events happen, you will need to update your documents. Many like to put it off, but should something unexpected happen to you, the court will go by your current will.

Contact France Law Firm

If you are ready to create a will and estate plan or need to update a current estate plan, contact France Law for a consultation.

The post Don’t Make These Mistakes When it Comes to Your Will appeared first on France Law Firm.

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Federal Settlement Taxes

Depending on the type of settlement you win, you might have to pay taxes to the Internal Revenue Service. The tax code has many loopholes for settlement taxes, but you probably won’t get out of paying for most of the settlement. A tax attorney at France Law will be able to tell you what part of your settlement is taxable.

When Settlement Compensation Is Not Taxable

If your settlement is for physical injuries, the settlement is not taxable. But, it’s not that cut-and-dried. Many settlements have three types of damages, especially if you have to take the defendant to court because the insurance company doesn’t make you a fair and reasonable offer, or because you might be entitled to punitive damages. Those damages are economic, non-economic, and punitive damages.

Economic damages cover things like medical expenses and lost wages. If the medical expenses are for physical injuries, you do not pay tax. You will probably have to pay taxes on lost wages. The IRS figures that you would have paid taxes on that money anyway, so it is going to charge you for taxes on past and future lost wages.

Another item that might be subject to tax is the compensation you receive for emotional distress. However, in some cases, the money you receive to pay for therapy sessions for emotional distress might not be taxable, depending on your case. Always contact a business law attorney if you receive a settlement.

Taxable Damages

The court only orders punitive damages if the defendant’s actions were grossly negligent or intentional. You might receive punitive damages as part of a negotiated settlement, too. Either way, punitive damages are always taxable, as the IRS considers them as income. Punitive damages are not awarded for making you whole or for covering injuries or other losses. Instead, punitive damages are awarded when the court wants to punish the defendant for his or her egregious behavior.

Certain settlements have nothing to do with physical injuries, and those are always taxable. These might include:

• Business settlements;
• Intellectual property settlements;
• Contract settlements; and
• Other settlements for negotiations and lawsuits for reasons other than physical injuries.

Total Amount

If you win $100,000 in a settlement and your attorney takes 33 percent as agreed, you might think that you are only paying taxes on $67,000. However, the IRS considers the entire amount income; thus, you will have to pay taxes on the entire $100,000.

Negotiations

Before you agree to a settlement, let your business law attorney or personal injury attorney hash out what parts of the settlement will be taxed. You might think that part of your settlement is not taxable because that money paid for psychological therapy because you suffered long-term injuries in an accident. Still, if the defendant sends you a 1099 with that amount included, you will have to pay taxes on that part of the settlement.

It’s easier to determine the taxable amount and include that in your settlement agreement or final judgment than to have to deal with the IRS after the fact because you didn’t claim money that was listed on your 1099.

Contact France Law

If you are ready to receive a settlement or have received a settlement, contact France Law at 850.224.1040  to learn more about paying taxes on your settlement and for advice on managing your settlement.

Manage Your Winnings Better With An Experienced Tax And Estate Attorney.

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