J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

May 2015 Archives

Does personal property belong in a trust?

Prior posts on this blog have described some of the benefits of creating a trust. For example, one of the primary reasons why a person in Florida sets up a trust is so that his or her heirs will be able to avoid the cost and time that it takes for a decedent's estate to get settled through the probate process. Furthermore, trusts can provide certain tax benefits when it comes to transferring assets from one person to another.

Executing a valid will in Florida

The purpose of most wills is for a person to dispose of their assets upon their death. For many people, this means figuring out how to divide their assets amongst their loved ones. Figuring out this part of the will is often the most difficult step of the process. However, it is also important for the person whose will it is -- also known as the testator -- to be sure that his or her will is valid.

Many will inherit large sums from baby boomer family members

Almost all parents want what is best for their children, and so parents try to lead their children down a path that will help the children achieve a happy and prosperous life. For many parents in Polk County, trying to ensure a happy life for their children means helping them financially and leaving their children with an inheritance.

What are the components of an estate plan?

Many people think of estate planning as a subject that applies only to wealthy people. However, estate planning encompasses a lot more than just finding ways to pass down huge sums of wealth while paying the least amount in taxes. In other words, many people in the Lakeland and Winter Haven areas can benefit from an estate plan; it's not just for the mega-wealthy. So, what does an estate plan for the average person look like?