Blog: Estate Planning
Bank of America Says Power of Attorney Does Not Grant Access to Online Banking
When one spouse suffers from dementia, the other spouse often must take over managing the couple's finances, usually with the help of a power of attorney. But things don't always go smoothly with financial institutions. Just ask Chicago resident Eva Kripke, who has...
Is Your Emergency Plan In Place?
I write a lot about getting your estate planning affairs in order, but do you have your financial emergency plan in order? If you have a home disaster (and there have been a lot of natural disasters lately), do you have a plan in place? Here in Florida, as hurricane...
Pet Trusts: What happens to my pets if I die?
A study published in the Journal of the American Geriatrics Society in May of 1999 demonstrated that independently living seniors that have pets tend to have better physical health and mental well-being than those that don’t. They’re more active, cope better with...
The New Florida Durable Power of Attorney statute
Among the new laws which the Florida legislature passed this session were substantial changes to the Durable Power of Attorney Statute. A durable power of attorney (DPOA) is a document in which you appoint someone to legally act on your behalf. Essentially, your...
The Hidden Secret of Elder Abuse
Many elderly people rely entirely on family or other trusted individuals to help them. Whether it is for physical needs or emotional needs, as people grow older they tend to need more and more help from others. This dependence on caregivers or family members makes an...
Need Long Term Care? Use your home equity
For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a home equity loan. But a conventional loan really doesn't free up the equity because the money has to be paid back with interest. A reverse mortgage...
“The September of My Years”
Before attaining 70 1/2, you should review all of your Florida estate planning documents along with those describing financial and retirement benefit planning. Because the age of 70 1/2 has been magically designated by the Congress of the United States and the...
“Will You Still Need Me, Will you Still Feed Me When I’m Sixty-Four?”
Whether you reached an age where you have adult children but may not yet be retired, or you have reached retirement age, this stage of financial and estate planning, by this point, you should have a thorough and proper review of your retirement planning. ...
Love and Marriage….and married with children!
You are young, in love, and married with a baby on the way (or already here). Ah, to be young and starting a family again. Now you really have some responsibility. Have you thought about who is going to take care of those cute little children if something should...
Going to the Chapel and we’re gonna get….our estate planning done?
So, now you are married. Have you thought about any financial or estate planning now that you are newlyweds? Maybe going to buy your first home? As a married couple, you may begin to acquire joint assets and, if both of you were involved in a sudden accident and...
Is Your Estate Plan “Unwritten”– Yes, you, Ms. or Mr. Eighteen year old.
As Natasha Bedingfield wrote, “The pen’s in my hand, ending unplanned.” You might ask yourself, as an eighteen year old or young college student, why do I need to plan anything? All you have to do is look at the case of Terri Schiavo (and if you don’t know who that...
What is the 2010 IRA Contribution Deadline?
From Michael Rubin, your Guide to Retirement Planning The deadline to contribute to your IRA in any given year is the due date of the tax return of that year. For 2010 filing, you have an three more days than usual! Although 2010 is long gone in the eyes of most, not...
Florida Probate Questions Answered: What about Homestead Property?
Florida Probate Florida law recently changed in October, 2010 with respect to how a homestead passes from the decedent to his or her surviving spouse and descendants. Under the old law, if the house was solely in the name of the decedent who was survived by a spouse,...
Florida Probate: What if there is no Will?
If a person dies without a Will (or if the Will is invalid), then the estate is “intestate”. This simply means that Florida law dictates the decedent’s heirs and who is entitled to administer the estate, i.e., be the personal representative/executor. If someone dies...
Florida Probate & Estate Planning: What is a Will?
A will in Florida is a writing, signed by the decedent and two witnesses, that meets the requirements of Florida law. Additionally, to save your estate costs at your death, the Will should have a “self-proving affidavit” where both the decedent and the witnesses sign...