In honor of Estate Planning week, the week of October 19, 2020, we are providing a crib sheet for knowing the definition of and referring to common estate planning terms. Estate Planning is an important tool, not just for the ultra-wealthy or those thinking about retirement. Estate planning is something every adult should do. Estate […] Related Topics: 10 Mistakes People Make When Planning for Art and… What You Should Know About The SECURE Act and… 8 Important Things to Know about Using an LLC Asset Protection for Entrepreneurs What is the Effect of Longevity on Estate and… The post Thirtee ..read more

One of the first estate planning clients I advised was a man with a comic book collection appraised at $44,000. Decades later, I wonder about the current value of his collection. Ever since that first client, I have observed mistakes people make in planning for their art and collectibles. Below are ten mistakes to avoid […] Related Topics: "Sweetheart Estate Planning" – Separate Trusts or a… "Do I REALLY need to keep my business records?" 8 Important Things to Know about Using an LLC "Do I Need An Attorney For My Estate Planning?" Are you sure your heirs will heed your wishes after… The pos ..read more

What is Sweetheart Estate Planning? Most married couples today need not plan for the payment of federal estate taxes. In 2020, federal estate tax is only imposed on a deceased person's estate if its value exceeds $11,580,000. With proper planning, a married couple can effectively double that exemption to $23,160,000. If you are a Floridian, […] Related Topics: Avoid probate by putting your Florida homestead in… What Should the Surviving Spouse Do to Avoid… Your divorce is all done! Sorry, not yet! Members of the military can take advantage of… Florida Retiree Uses an Out-of-State Attorney. Th ..read more

Florida is the number one choice among retirees to call home. Many of our transplants may not want to change the professional relationships they have established over many years. With estate planning, that is a mistake. Just because a person’s estate planning documents work in their former home state does not mean they will work […] Related Topics: Avoid probate by putting your Florida homestead in… "Do I Need An Attorney For My Estate Planning?" What Should the Surviving Spouse Do to Avoid… Will Your Durable Power of Attorney be Effective… Transferring LLC Membership Interests Part 3 -… Th ..read more

When is the Power of Attorney Effective? In Florida, a power of attorney signed after October 1, 2011, is effective immediately. This means you do not have to be incapacitated for your agent to act on your behalf. This can be helpful if you are out of town for an extended period of time and […] Related Topics: Videos Power of Attorney What To Do With Your Digital Assets Will it matter if your LLC has an operating agreement? "Do I Need An Attorney For My Estate Planning?" The post Will Your Durable Power of Attorney be Effective When Needed? appeared first on Stross Law Firm, P.A ..read more

Does your estate plan include what happens to your digital assets if you become incapacitated or pass away?  If your user names and passwords, your digital assets, are locked away in your head or in a digital or paper file that only you know about, you may mistakenly tell yourself, “I’ve got my estate plan […] Related Topics: Your divorce is all done! Sorry, not yet! Are Your Trade Secrets Really Safe? 4 Steps To… Will Your Durable Power of Attorney be Effective… What Should the Surviving Spouse Do to Avoid… Are You Sure Your Estate Planning is Up-To-Date? The post What To Do With Your Digi ..read more

As lawyers who offer estate planning services, sometimes a potential client will ask if they really must use a lawyer to help plan their estate. With the availability of internet searches, a person shouldn’t need a lawyer, right? No, You Are Not Required to Use An Estate Planning Attorney. There is no law requiring that […] Related Topics: Florida Retiree Uses an Out-of-State Attorney. The… Avoid probate by putting your Florida homestead in… Will Your Durable Power of Attorney be Effective… Transferring LLC Membership Interests Part 2 -… Are You Sure Your Estate Planning is Up-To-Date? The ..read more

How well do your children and grandchildren get along with each other? Do they seem to have friendly differences or do they argue at every family gathering? If you notice family members don’t get along well, your heirs may argue and fight over your estate when you pass away. In a previous blog post called, […] Related Topics: Are You Sure Your Estate Planning is Up-To-Date? "Do I Need An Attorney For My Estate Planning?" Transferring LLC Membership Interests Part 2 -… 8 Important Things to Know about Using an LLC I’m Starting a New Business - Should I Form an LLC… The post Are you sure your ..read more

After Your Divorce Planning Even in the best of circumstances, a former husband and wife are just plain worn out after their divorce. A couple that has been together for even a short time, most of the time, has several important steps to be taken after the divorce. Below are examples of the items to […] Related Topics: Avoid probate by putting your Florida homestead in… Are You Sure Your Estate Planning is Up-To-Date? Transferring LLC Membership Interests Part 3 -… Transferring LLC Membership Interests Part 1 — An Overview After the Divorce Planning The post Your divorce is all done! Sorry ..read more

When was the last time you reviewed your estate plan? Reviewing your estate plan regularly (as often as every two years) is important to be sure your wishes are followed. You must keep your beneficiary designations of your estate plan up to date. If you die and the beneficiaries are deceased or named incorrectly, a […] Related Topics: Your divorce is all done! Sorry, not yet! Are you sure your heirs will heed your wishes after… "Do I Need An Attorney For My Estate Planning?" What To Do With Your Digital Assets 8 Important Things to Know about Using an LLC The post Are You Sure Your Estate P ..read more