J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

June 2015 Archives

Estate administration for business owners

Some Polk County residents may have experience dealing with the probate process. When a person dies, the probate court oversees the distribution of assets from the person's estate. The court also disposes of any disputes between heirs regarding the validity of any provisions of the deceased's will.

How do lifetime gifts affect a Florida resident's will?

Nobody wants to picture their love ones struggling financially after the person passes away. This is one of the big reasons why people in Polk County take precautions like purchasing life insurance or setting up other instruments that will provide for their heirs in the future. Furthermore, some people accumulate assets throughout their lifetime and create a will to pass down those assets upon their death. But what happens when a person starts giving away some of their assets during their lifetime? Does this affect what happens with their will?

Make the most from an estate plan

When people think about estate planning, images of the old or the infirm might come to mind. Some Florida residents may think that estate planning just isn't necessary if they don't fit in one of these categories. Other people may think that they have plenty of time to put their affairs in order and push it off. However, estate planning is not just for the elderly and the sick -- everyone should have a comprehensive estate plan to protect their loved ones.

Estate planning must account for many different details

People in Polk County who have thriving careers and substantial assets may think about planning for retirement in the future. Likewise, these people might also want to set up a plan to ensure that their family members are in good financial shape when the person passes away, or even if they become incapacitated and can no longer work or care for their financial affairs. Estate planning can achieve these goals and more, but a good estate plan must account for many different possibilities.