J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

December 2016 Archives

What is preference in appointment in estate administration?

The laws in the State of Florida are important when dealing with probate issues. With estate administer, the law has a preference when it comes to the appointment of a personal representative. There are different orders of preference based on whether it is a testate estate or an intestate estate. Knowing how the law deals with these circumstances is a key with these matters to ensure there are no complications or mistakes that can cause issues as time passes.

Legal help with estate plans and out-of-state representatives

With estates and will planning in Florida, there are a great number of variables that can come up. One involves the executor - alternatively known as the personal representative - of the decedent and if that person lives out of state. The laws of the State of Florida dictate that the executor who lives outside of the state has to be a relative of the person who died.

ABLE is beneficial for trusts to help the disabled in Florida

Floridians who have a loved one with disabilities or other particular needs will have a great deal to consider as they formulate an estate plan. A special needs trust is a useful method to ensure that their loved one will always be cared for even after they are gone, but this can be costly. With that in mind, examining options can be both wise and help to save money while making certain that the needs will be taken care of. Since federal taxes on trusts are inordinately high - close to 40 percent - a federal law that came into effect in 2014 is something to think about.

Estate plans should reflect where you are now

You may have heard startling statistics about the number of people who have put off planning their estates. However, just as high may be the number of people who make the effort to establish an estate plan, then allow decades to pass without reviewing those decisions.

What requirements must be followed to execute a will?

Last week, this blog discussed the numerous advantages enjoyed by Florida residents in preparing a will. In addition to creating certainty and reducing potential disputes between family members, the will can also result in potential tax savings or other economic advantages.