Barbara Corcoran, a host of the popular reality show TV Shark Tank, recently disclosed that she lost $380,000 to a phishing fraud. Corcoran received an email, believed to be from an assistant, with a fraudulent invoice requesting money owed for real estate renovations. The email address was one letter off from the actual address used by…
Continue reading…Serving as a parent’s personal representative in Florida
Grown children of parents who live in Florida but are not residents themselves may feel confused over the term “personal representative” as it relates to estate planning. According to the State Bar Association in Florida, “personal representative” is the term used to describe the person in charge of handling the estate of a deceased person….
Continue reading…The best time to discuss estate planning with aging parents
The aging population of Florida is on the rise. Taking care of aging parents can be less stressful when there is an estate plan in place. Having these conversations early can ensure that adult children meet the wishes of their parents before health issues or unexpected death prevents those discussions. MarketWatch states that nearly half…
Continue reading…3 reasons to look at your parents’ will after moving
Family members live in Florida and you decided that since your parents are getting older, you may want extra help taking care of them. As the only caregiver, more and more reasons are popping up giving you subtle hints that you need to move. Every year thousands upon thousands of people settle in Florida. It…
Continue reading…How to make a gift of retirement assets
When the elderly feel that their strength is diminishing, they start planning their retirement assets. Among what they opt to do is giving out part or all of their property as planned gifts. There are several benefits of contributing to other lives through donations. According to the Cancer Research Institute, if an elderly leaves their retirement assets to…
Continue reading…What should I know about Florida estate tax?
Estate taxes are often confusing. This is especially true when they change often. It does not help that they occur at both the federal and state levels. Federal law changes may affect state laws, which is what happened with the Florida estate laws with recent changes to the federal regulations. Prior to 2005, Florida had an…
Continue reading…How do I protect my parents’ assets from medical bills?
The rising cost of medical care in Florida and throughout the United States is a source of pain for many families. If you are considering taking action to reduce costs, there could be other options available to you. However, these would probably involve taking certain steps to preserve family assets. Before reading, please understand that…
Continue reading…How to approach your parents about estate planning
As you get older, you may find yourself taking on more of a caretaker role with your parents. It is a fact of life that the tables turn, and things change. There may come a time when you need to discuss with your parents what happens after they are gone. It is a tough discussion,…
Continue reading…Is it time to update your estate plan?
As a resident of Florida, it is important to have an estate plan prepared. However, you cannot simply write your estate plan and then leave it untouched. You must also be prepared to update it frequently so that it accurately reflects any major changes in your life. Forbes discusses some of the prime points in…
Continue reading…If your parents die broke, are you liable for their debts?
For many people across Florida, watching the health of a parent deteriorate can prove immensely painful and difficult, and losing that parent often proves even more so. If you are also fielding calls from creditors looking to collect on the debts your parent left behind, you may be just about at your wit’s end, but…
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