Florida has no death tax. Business taxes are handled based on the rules for the Internal Revenue Service (IRS). However, an estate might have to pay business taxes upon the death of a business owner, depending on how the business owner structured his or her business. Because business law and tax law is complicated, it […]
The Medical Directive is a document better known as a living will. The document allows a person to specify what kind of medical treatments they will allow if they are in a situation where they are unable to voice their wishes. While “living will” is a common name we all know, it is not the […]
“Tis impossible to be sure of anything except death and taxes.” It’s a notion that’s normally attributed to Benjamin Franklin. However, the first mention of the idea is from a 1716 book by Christopher Bullock, The Cobler of Preston. Whoever said it first, it remains true; you can’t escape dealing with taxes. Whether you believe […]
Even if you’re meticulous about financial planning, you may be putting off writing a will until the later years of your life. However, your family members may find themselves entangled in a legal morass without warning if you or your spouse pass away unexpectedly. There are some potentially negative complications for sorting out your estate […]
While a Last Will and Testament garners a great deal of respect from friends and loved ones, sometimes they do not accurately reflect that deceased’s wishes. When people are inadvertently left out or the document has stipulations that run contrary to the testator’s known desires, something may be amiss – you may find cause to […]
As the year comes to an end, now is the perfect time to get a head start on your business taxes. While personal taxes aren’t due until April 15, 2018, your business taxes must be completed and filed a full month earlier on March 15, 2018. If you’re want to make sure this tax season […]
Most people spend their entire lives working to build a legacy that those they leave behind can enjoy once they’re gone. But in reality, that is often not enough. In addition to building your estate over time, you must also dedicate time to careful estate tax planning to make sure that much of your work […]
When you make charitable donations, be sure they are deductible by following the rules the Internal Revenue Service sets forth. Certain rules apply to donations less than $250, more than $250 but less than $500 and over $500. Regardless of value, every donation must be made to a qualified charity in order for you to […]
You are never too young to make a will, as long as you are emancipated, which means you are on your own. Florida Statutes §732.501 states that you must be 18 years of age or an “emancipated minor,” and must be of sound mind. Florida statutes also provide the circumstances in which a minor may […]
There are many important matters addressed by a will, and this valuable legal document can provide peace of mind when planning for the future. One important consideration that you may not have thought about is nominating a personal representative to administer your estate.
Who Can Be a Personal Representative?
The judge overseeing probate proceedings will appoint a […]