J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

July 2013 Archives

Millionaire heiresses' mother in legal battle with trustees

When Florida residents execute a will, they appoint someone as executor to handle business matters related to closing out the estate. When all the outstanding debts are paid and all the beneficiaries have received their inheritances, the executor's work is done. When Florida residents set up a trust, they must appoint a trustee, whose trust administration duties continue as long as the trust exists.

Inheritance tax troubles aren't just for the super-rich

Those who are planning their estates or who stand to inherit wealth may think taxes won't pose a problem when it comes time to transfer assets from the estate to the heirs. After all, Florida has no estate tax and the federal estate tax currently kicks in only on transfers over $5,250,000. However, there are many other kinds of tax problems that can come up when people inherit wealth through a will.

James Gandolfini's will leaves most of estate to minor children

It came as a shock to many Florida fans when James Gandolfini died of a heart attack last month at the age of 51, but the star of "The Sopranos" had apparently wisely planned for the possibility that something like this could happen. The actor left behind a will dated December 19, 2012, which gave detailed instructions on how to distribute his estate, which is estimated to be worth $70 million.

Daughter likely inherits right to sue over father's death

When person dies without a will in Florida, state law provides a way to distribute the person's assets to family members. The assets that make up a person's estate may include real estate, cars, personal items, money in bank accounts and just about any other kind of property. It can even include legal rights.