What I Wish I Knew About Estate Administrator Duties [Guest post from Sarah Bacon] My grandmother first asked me to be her executor in a text message. We got her an iPad for Christmas, and although she was 90 years old, it took her about an hour to become a pro. I said, of course I would. She responded, “TY.” …
Climate Change Slashes Florida Real Estate Market Values
Climate Change Puts Florida Real Estate Investments at Risk Residential real estate has long been our national go-to investment. And for good reason: the U.S. housing market is valued at $50 trillion, nearly double its GDP. However, a recent study estimates $1.47 trillion in home values could be lost due to climate-related risks—a serious concern for those with real estate …
5 Ways Your Estate Planning Can Fail
Examples of Estate Planning Fails (and How to Prevent Them) The DIY estate planning option might seem convenient and cost-effective because you’re “just filling out papers.” However, the devil is in the details—and the details of your family’s future should not be left up to chance. Without proper guidance, your plan might cost them more money and time later (without …
Five Key Leadership Qualities for Business Authenticity
Business Authenticity: Five Key Leadership Qualities That Show You Walk Your Talk In today’s hyper-connected world, people don’t just buy the products you sell. They’re buying how you do it, what you believe, and who you are—and they can spot a fake from a mile away. Whether you’re a small local company or an established brand, business authenticity can be …
Private Foundation Rules and Warnings for Business Owners
Private Foundations: Rules, Procedures, and Warnings Every Business Owner Should Know Now that you’ve built a successful business, what better way to perform long-term charitable activity than by establishing a foundation? Giving money where and when you want it to go—and letting it grow tax-free in the meantime—it’s a win for everyone. Or, it should be. As a recent example …
The Difference Between Estate, Inheritance, and Gift Taxes
Estate, Inheritance, and Gift Taxes Can Be Minimized—If You Plan Ahead If you’ve spent your life building a real estate portfolio, you’re probably aware of the realities of paying property taxes in various locations. However, you may not have considered the taxes your heirs could pay on these properties—and not just estate tax. While estate, inheritance, and gift taxes are …
Online Wills Vs Estate Planning Attorney
Creating a Will Online Vs Estate Planning Attorney: An Honest Review You’re ready to plan and protect your family. You might not realize all the benefits that will accrue when put your assets into a trust, or at least with the drafting of a will. But before taking that important step, you must decide: can you do it online, or …
Preventing Financial Abuse of Vulnerable Adults in Florida
Laws and Legal Documents: Preventing Financial Abuse of Vulnerable Adults in Florida Florida is the number one retirement destination in the nation; unfortunately, that makes us a top scammer’s paradise. New legislation has put in place a series of protections preventing financial abuse of vulnerable adults, but there’s a lot more we can do on the individual level to protect …
Covering the High Cost of Care for Elderly Relatives
The High Cost of Care for Elderly Loved Ones As the Baby Boomer generation ages, more Gen-Xers and Millennials will face the challenge of balancing their lives and careers with the competing need to care for aging loved ones. Taking the time to plan for the future now—before your relative needs you—can prepare you for the cost of care for …
Understanding the Updated Homestead Exemption in Florida
Florida’s New Homestead Exemption: What Homeowners Need to Know About the Updated Law One of the biggest benefits of living in Florida is the Homestead Exemption, which reduces the taxable value of your primary residence. Recent legislative changes have enhanced the Homestead Exemption, further bringing down yearly property taxes for Florida homeowners. [TABLE OF CONTENTS] What is Homestead? Homestead could …