In 2024, the federal estate tax ranges from 18% to 40%, depending on how much the value of the estate exceeds the current exemption limit of $13.61 million.
While adding a child to your home’s deed might seem straightforward to manage your estate, it’s fraught with potential problems and complications. This article reviews the implications and alternatives to adding a child to your home’s deed, with the goal of ensuring your estate plan is effective, efficient, and aligned with your long-term intentions.
It’s perfectly normal for aging parents who are currently completing their will along with their lawyer’s guidance, to leave the family home to their children.
Estate planning is not as simple as executing a will. Asset distribution in Florida is tricky, and an estate planning attorney can help guide you through the process!
Take the squabbling between siblings you’ve had to endure and referee as a parent. Now multiply it times age and money. That might give you some idea of the need to make your final wishes clear when the time comes to divvy up your assets.
Preparing for the future supports the causes you believe in and provides peace of mind for you and your heirs.
If you plan to pass assets through a will, just remember that most of the time, that will becomes public once the probate estate is closed. Therefore, if you left one of your children out, left your favorite a bit more or are just a private person, you may be better off with a trust.
There are many reasons, however, to incorporate asset protection trusts into even the simplest estate plan–especially in the context of passing assets to children and grandchildren.
As Lady Bird deeds grow in popularity, it is important to discuss and understand the benefits and limitations of these deeds.
History is filled with examples of celebrities who died without a will: Bob Marley, Prince, Howard Hughes, Pablo Picasso, Jimi Hendrix and even Abraham Lincoln.
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
