Since 1996, the Health Insurance Portability and Accountability Act (HIPAA) has sought to limit the release of sensitive personal medical information to third parties for the purpose of maintaining individual privacy. It also provides for a secure, tightly controlled way for your PHI (private health information that could be potentially identifiable) to be shared among your health insurance providers. How Does HIPAA Read More
FLORIDA’S INHERITANCE RIGHTS EXPLAINED
A valid Last Will and Testament takes away much of the guesswork and uncertainty over inheritances when a decedent’s estate is being settled. This legal document allows the decedent to distribute property and assets to beneficiaries as he or she desires, which are not obligated to line up with Florida’s intestate laws. Intestate laws govern the distribution of items of a decedent’s estate in the event that there was Read More
How are your Debts Handled After you Pass Away?
Hopefully, you have at least given some thought as to how you want your estate divvied up when you pass away. A properly crafted Will gives direction on your beneficiaries’ inheritance, as well as who you want to execute your Will. A last Will and testament that does not name an executor or an estate that was never planned for in the first place causes the Florida circuit court in the decedent’s county of residence Read More
3 Benefits of Having a Will in Place
While most people adequately plan and manage their daily affairs, however, many fail to make adequate arrangements related to the distribution of their property after their passing. For example, according to statistics, as much as 60% of Americans have no valid Will in place. A Will is an essential estate planning document every adult should prepare - regardless of their age or the value of their property and assets. Read More
A Brief Overview of Life Insurance Trusts
Just like tools in a toolbox, legal instruments related to estate planning can be simple and versatile - like Wills or Powers of Attorney - or complex and precise, allowing a person to achieve specific goals related to the unique circumstances of their estate. Life insurance trusts are one of the more advanced estate planning instruments. Read on to learn what they are and in what circumstances it may be useful for Read More
3 Ways You Can Minimize Your Estate Tax
One of the primary reasons to create an estate plan is to ensure that a person’s wealth will be swiftly and effectively transferred to their heirs. The estate tax, however, can often get in the way of fulfilling this goal by reducing the amount of wealth the deceased person’s family members will receive. The estate tax is a federal tax levied against the net value of a decedent’s estate owned at the time of their Read More
Don’t Put it Off: Why You Need a Will, Even If You’re Young and Healthy!
More than half of Americans don’t have any of the essential estate planning documents such as a Will. There may be many explanations for this trend, but one of them likely lies in the current U.S. demographics. In 2019, Millennials are projected to overtake Baby Boomers as America’s largest demographic. Currently, they constitute about a quarter of the total U.S. population. And a grand majority of Millenials - up to Read More
Elder Law: How to Protect Your Loved Ones as They Age
As parents get older and enter into their seniors years, their adult children become acutely and somewhat painfully aware that the people who cared for and protected them for the most of their lives now require tender care and loving protection themselves. Sadly, the particular challenges related to old age - such as physical infirmity, emotional frailty, or dependence on others to name just a few - can make the Read More
Estate Planning 101: What Happens if You Pass Away Without a Will?
A Will is one of the most important documents you can prepare in your adult life. It constitutes the basis of every estate plan and as such is instrumental in securing your legacy and a stable financial future for your family after your passing. Yet, despite the enormous importance of this step, more than half of Americans don’t have any estate planning documents in place. This holds true both for ordinary people but Read More
What Is a “Living Trust” and When Is It Helpful?
A living trust can be a practical and versatile addition to an estate plan that can help a person achieve more estate planning objectives. Unlike a Will, a living trust comes into effect during the lifetime of a person who creates it even though its provisions are designed to secure the interests of the person’s family and estate after their passing. In this article, we will explain how a trust is created, the Read More
