Privacy is one benefit of using trusts in one's estate plan. With trusts, assets held in trust pass to beneficiaries confidentially, whereas relying on a Will involves the public recording of estate distribution. Trust protectors, a fairly new option for trusts in America, offer powers to a designated person or team of persons that can help preserve privacy.
Our asset protection attorneys in Miami review the privileges Florida residents enjoy in regards to preserving their wealth. We also explore the limitations in the Florida statutes and how residents can enjoy additional protections with certain strategic tools and advance planning
â€‹A bill that removes several tax barriers for charitable donors was passed by the House of Representatives in mid-July. A few tax incentives for donors expired last year and others were slated to expire in the near future, but the passing of the bill may make certain tax provisions permanent.
In the summer of 2014, within one month Florida judges ruled in four separate cases that same-sex marriages would be recognized. What do these new rulings mean for LGBT couples in Florida?
Over the past year, individuals submitting Title II weapon applications have been navigating an unreliable electronic application system. The ATF is planning to launch a new digital system that will help improve processing efficiency.
When business insurance policies are insufficient, assets may be at risk. Captive insurance planning offers savings as well as a greater level of asset protection. Laws governing Tennessee captive insurance changed over the years. The laws used to be attractive to high net worth businesses. Corporate insurance expenses were typically outside the operating budget of a small business.
As of this writing, only one state that our asset protection attorneys serve recognizes same-sex marriages. New York offers state-level protections for spouses, but in Tennessee, Florida and North Carolina, married same-sex couples must institute effective estate planning to get some of the protections that heterosexual married couples have automatically under state law.
Guns & Ammo Magazine released their annual national ranking of â€˜Best States for Gun Owners' and once again all three states Southern Gun Law Group's gun trust attorneys serve made the Top 5 in the southeastern region, and jumped a few spots to make the Top 20 nationally.
Legislation moved forward, and on July 1, 2014 Mississippi joined fifteen other states that permit DAPTs. DAPTs may be created in the state as long as a Mississippi resident, trust company, or bank acts as trustee.
The New York estate tax changes that went into effect on April 1, 2014 do not provide for spousal portability. The legislation provides that the state estate tax exemption will adjust annually