J. Kelly Kennedy, Attorney/CPA, PLLC

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April 2014 Archives

What estate planning documents should everyone consider?

Some Florida residents may have a vague understanding of what estate planning entails, but may not be quite sure of what exact components are involved. This is understandable, as there are many estate planning myths that float around. Estate planning, in the minds of many, entails death and taxes and large inheritances. While these undoubtedly play a part in estate planning, there is much more to it.

Avoid these estate planning mistakes

The potential for mistakes during estate planning is high. What's more, these errors can happen at any time in the estate planning process. For Florida residents who hope to preserve assets and protect the interests of their loved ones (as well as their own), it is prudent to take certain measures in order to avoid these estate planning mistakes.

Mickey Rooney's modest estate left to stepson

When some Florida residents read about a celebrity's estate, they may assume that the celebrity planned an estate to protect their enormous wealth and assets. Though this may often be the case with celebrities, it is not always so. Estate planning can be a valuable tool for anyone -- not just the very wealthy. Even those with modest assets can benefit from making known their post-life wishes involving asset division and health care directives.

What is the biggest estate planning blunder?

The biggest estate planning mistake a Florida resident can make is, quite simply, not to plan an estate. Many Americans, whether because of estate planning myths or procrastination, never draft an estate plan before passing. When this happens, family members and loved ones are often left quarreling, unsure of how to divide assets or what healthcare decisions to make. Without an estate plan, there are many benefits that may go unrealized.

Whitney Houston's estate serves as lesson in planning

Many Florida residents can probably agree that ideally, it is best that family members are not left quarrelling after a person's passing. In an already emotionally trying time, perhaps the last thing that should cause further stress to loved ones is uncertainty involving matters such as how a person's assets should be divided and what a person's health care wishes are. Thankfully, a well-planned estate serves to protect against this scenario.