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May 2017 Archives

Trust, prenup at issue following Alan Thicke's death

Florida residents may be interested to hear that a war may be brewing between the children of late actor Alan Thicke and his widow. In 1988, Thicke drafted a living trust. Later, when he married his now widow he entered into a prenuptial agreement with her in September 2004. The couple wed in May 2005.

Don't wait to fund your trust

Revocable living trusts are a popular way for residents of Florida to pass their assets on to their loved ones. However, the story doesn't end when the trust is written and the person creating the trust, the trustor, signs on the dotted line. In order for a trust to operate as it should, the trustor needs to "fund" -- that is, transfer assets to -- the trust.

Is there a difference between fair and equal in estate planning?

Parents of young children may strive to keep things fair between their children. For example, parents may set an age at which the child can have a later bedtime, watch certain movies or television shows or start dating. However, it is not always that easy to treat your children equally when the children grow up and become adults. This may especially be true when it comes to estate planning.

Protect your autistic child with a special needs trust

Two decades ago, cerebral palsy and Down syndrome were the most common disabilities parents had to plan for when having children. These days, however, due to prenatal testing and better prenatal care, rates of both of these conditions have gone down. The rates of children being born with Autism Spectrum Disorders, however, has increased substantially. Roughly 1 in every 68 children born in the United States has some form of autism, though the severity and existence of co-morbid conditions varies in every case. If you have an autistic child, you need to take special steps to protect your child.

How does a 'life estate' factor into estate planning?

The family home is where the heart is, but what will happen to your home when you die? Some people in Ft. Myers may have left their home to their children in their will, but that will still needs to go through probate, which could be a long and pricey process. Are there any other options for people who want to hand their home down to their heirs but want to avoid the probate process?

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