Florida fans of Michael Jackson may be interested to hear about a recent change in the valuation of his estate. The Internal Revenue Service now says that is owed an additional $29 million in estate taxes. According to the IRS, it believed that he only had a 50 percent interest in his master recordings. However, he actually owned 100 percent of the interest in the recordings when he died in 2009. All told, the estate Read More

Art collectors in Florida could find a recent appellate court ruling regarding a deceased collector in Texas interesting. He and his wife had collected 64 works by Picasso, Jackson Pollack, Cezanne, David Hockney, and more world renowned artists with a stipulated fair market value of$24.6 million. The family of the collectors recently received a $14.4 million refund of estate taxes as a result of the decision by the Read More

Neglecting one's estate plans could result in challenges for survivors in the event of an unexpected death. However, a Florida resident may live a long life with the expectation of passing on remaining assets to children or other heirs upon death. In spite of responsible financial activities, estate value could be minimal by that point due to a lack of preventive efforts to protect assets. Good planning includes Read More

It turns out that "Family Feud" is not just a popular game show -- it also describes the aftermath of many poorly drafted estate plans. With the recent economic turmoil of the Great Recession still fresh in many Floridians' minds, a growing number of legal estate challenges are cropping up in the state's courts. How can you protect your estate plan andwill from being subject to litigation after your death? Today, we Read More

If you are the parent of an adult child who is in a dodgy marriage, you may not feel entirely comfortable handing over your entire estate to your son or daughter. Imagine if your child divorced after your death, and suddenly your estate value was up for grabs in an equitable division proceeding! How do you use estate planning to make sure your child is provided for, even in the event that he divorces? Today, Florida Read More

Selling a house in Florida is rarely an easily reached decision, and the process is not much simpler. However, when the home is attached to stipulations in someone's will, the sale can become even more riddled with tension and pressure. Not only may family members and heirs have a sentimental attachment to the home, but it also becomes clear that real estate is not as easy to divide as other, more liquid assets. Read More

Most of us are familiar with the meteoric and often controversial career of the King of Pop, Michael Jackson. Even though he passed away in June 2009, his estate is still facing a significant amount of legal action, with estate valuation playing a major role. Now, the battle continues to rage as administrators work to calculate estate taxes related to financial assets that have been accumulated since Jackson's Read More

Which is more important: your list of beneficiaries on file with the banks that oversee your retirement plans or the recipients for those accounts that are listed in your will? You may not realize that the named beneficiaries for your Florida IRAs, life insurance policies, bank accounts and even 529 savings plans will supersede any provisions you include in your will. If your will is up-to-date, for example, but the Read More

When someone tells you to "do estate planning," you may not fully understand what they mean. Do not feel alone. Many Floridians are also confused about financial and health care documents that should be included in a comprehensive estate plan. Establishing your estate value is an important aspect of estate planning, for example. However, you may never have taken a full tally of your personal holdings. Before you get Read More