J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

March 2017 Archives

Trusts considered 'tax shelter', can help minimize taxes

With Tax Day looming, many Lakeland residents will ask themselves how they save more money. Everyone would prefer to keep their cash in their pocket, so it is wise to look at options to consider how one could avoid giving more of their money to the government in the form of taxes. Trusts have been called a 'tax shelter' thus insulating one's assets from tax implications one may otherwise experience without a trust.

Do not let estate administration tax obligations go unaddressed

When a Floridian thinks about their estate, and the assets they may have earned or acquiesced over the years, it can be a lot to think about! That is why estate planning is perfect for getting a handle on a person's financial situation.

Differences between revocable and irrevocable trusts

When thinking of preparing an estate plan, it is good to know that this process is entirely flexible. This means that whatever goals one wishes to accomplish with an estate plan, it is very possible that these goals can be achieved, if the estate is formatted correctly. Many owners of large estate have heard about the benefits of trusts and how these trusts an manage and allocate assets both now and in the future. There are several different types of trusts, two of which are popular with Florida estate owners.

Rental property costs more than just a mortgage

Many people consider relocating to a warmer part of the country throughout the year. This makes Florida a perfect place to own rental property. When those people begin looking for a place to rent, you want to be ready.

Consider making funeral arrangements part of your estate plan

When a loved one dies, the last thing a grieving family wants to do is to make decisions regarding the funeral. If the wishes of the deceased are not documented in the estate plan, however, funeral planning is exactly what a family will have to do.

Some important tips when it comes to estate planning

Previous posts here have covered a range of estate planning topics for Florida residents to consider as they make their plans concerning distributing their assets and naming guardians for minor children. However, a recent article boiled it down to five tips that can be a great start for those who are getting prepared for the important task of drafting estate planning documents.