J. Kelly Kennedy, Attorney/CPA, PLLC

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Estate Planning Archives

What documents do I need for an effective estate plan?

Effective estate planning can provide peace of mind and avoid family conflicts. The right estate planning documents and having an effective estate plan protects the estate planner, the estate planner's family and the estate planner's assets so it is important to be familiar with what estate planning documents are needed. The appropriate estate planning documents can also reduce stress and strife for families during difficult times.

Planning for the pets

Florida estate planning should include care of an important family member. Will or trusts may address the testator's wishes for the family pet. Trusted caregivers who are familiar with the pets should be identified in the will. The executor usually has the power to select another caregiver if something happens to the primary caregiver.

Estate plans should be customized to needs of the estate

A family may gain a vast wealth of assets and financial holdings over years or even decades of hard work. Wealth could have even started with a person's parents who have since passed away, as wealth tends to gain speed as time goes on. Or rather, wealth can gain speed as time goes on. If you are concerned that your estate could be handled improperly both now or in the future, you may consider an estate plan.

Death and taxes: Can your taxes benefit from charitable trusts?

When you consider the idea of bequeathing property in the event of your death, you may think about donating some of your accumulated assets to charity. Luckily, you have estate planning options that can help you carry out this goal, such as by using a charitable trust. Depending on how you want the assets distributed, you may consider using a charitable remainder trust or a charitable lead trust.

Consider making funeral arrangements part of your estate plan

When a loved one dies, the last thing a grieving family wants to do is to make decisions regarding the funeral. If the wishes of the deceased are not documented in the estate plan, however, funeral planning is exactly what a family will have to do.

Some important tips when it comes to estate planning

Previous posts here have covered a range of estate planning topics for Florida residents to consider as they make their plans concerning distributing their assets and naming guardians for minor children. However, a recent article boiled it down to five tips that can be a great start for those who are getting prepared for the important task of drafting estate planning documents.

Did you consider taxes when you did your estate planning?

If not, you should take the time to reevaluate your estate plan. The passing of numerous celebrities (think about Prince) illustrates the need for estate planning that considers the tax ramifications to heirs and beneficiaries. You spend your life accumulating wealth to provide for your family both during your life and after your death. Why would you give a large chunk of it to the IRS?

What should you know about estate planning in the new year?

An important issue for Florida residents to remember when crafting strategies for their estate plan is that a new year may bring new changes to the law. Mistakes can be made when failing to adequately prepare and adjust estate planning documents to adhere to these changes. Knowing what to look for and being cognizant of what is different is important.

Keeping an estate plan current when life changes occur

Florida residents who take the initiative to protect their assets for their loved ones by drafting estate planning documents and crafting strategies to make their desires become a reality are making a smart decision. However, in the majority of cases, the estate plan structure does not simply stop once it is completed. With family changes comes the need to make adjustments to the estate plan. Knowing what factors make it necessary to change the estate plan are important for the future.

Understanding the importance of estate planning

Estate planning is useful for a number of reasons and can provide peace of mind for the estate planner and the estate planner's family. One of the primary benefits of an effective estate plan is that it allows the planner to provide for their family, including their spouse and minor or grown children. An estate plan can also ensure property is transferred to beneficiaries more quickly through a trust, expedited probate process or other methods to provide peace of mind that they will be cared for and will not have to wait for a burdensome period of time.