J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

March 2013 Archives

Trust administration could have helped lottery winner

Financial matters can be complicated for many Florida residents who do not have experience with investments, financial planning and tax laws. There are many different ways that people can protect and build their wealth, however, to ensure that it lasts for the future. Trust administration is one way people can preserve current financial stability while also resolving their affairs to prevent conflict after their deaths.

The end of the sequester could bring changes to estate plans

The purpose of estate planning is to preserve assets for future generations, but taxes can throw a wrench in the most carefully laid plans. Florida and federal tax laws change every year, and these changes can have big effects on wills, trusts and other estate planning instruments. It's hard to plan for tax implications with full certainty when these laws can alter things so greatly.

Florida allows greater flexibility for trust administration

A trust is a way of dividing ownership of property. The original owner grants legal control of the property to a trustee, who manages the money for the benefit of the grantor. Among other things, this arrangement allows the grantor's heirs to avoid the expense and headaches of probate after the grantor dies.

Proper estate planning could help minimize family conflict

People in Florida who prepare a will can find great comfort in knowing that they will be helping to take care of loved ones for many years to come. When a parent's will leaves estate and assets to an adult child, it can be a way of continuing as a positive influence on the family after passing away.

Estate administration is a complex but important process

Florida residents might be aware of the benefits of estate planning. Though executing a will is an effective and unparalleled estate planning tool, it is nonetheless quite complex and often a time-consuming process.