Legitimate Taxation or “Confiscation?” Taxing Trust Income Which states can tax a trust’s income? This exact question was taken up by the Supreme Court in their recent opinion North Carolina Department of Revenue v. Kimberly Rice Kaestner 1992 Family Trust. North Carolina was of the opinion that they could tax…
Is it a Gift or a Loan? Your intention matters for your Estate Planning Have you ever given your child money to help them with school or a car or rent? How about loaning money to a friend? Is the intention to give a gift or a loan? How these…
Seeking Paternity in Probate: Are You Out of Time? When an estate enters probate and is being distributed, the distribution is usually between family members. Family members can include spouse, children from the marriage, parent, adopted child, aunt, cousin, etc. If there are issues or questions about the status of…
Fiduciary Exception for Attorney-Client Privilege is Extinct in Florida If you are an attorney hired by a fiduciary, whether it be a trustee, a guardian, or a personal representative, you not only are working for the fiduciary, but you are also working for the best interests of the third party…
FLORIDA SUPREME COURT ADOPTS “ATTORNEY-FIDUCIARY PRIVILEGE” RULE The attorney-client privilege is one of the oldest legal concepts and the backbone of providing effective legal services. It keeps the communication between an attorney and her client secret and protects it from disclosure, with some exceptions, even when other rules compel disclosure.…
HOW THE NEW TAX BILL MAY AFFECT DIVORCES In one of our previous posts we informed about the new Tax Cuts and Jobs Act (“TCJA”) and the major changes it brings, including the various adjustments in tax deductions. This article focuses on deductions applicable to alimony, as the new system…
How to comply with formal requirements of Will execution Florida law places great emphasis on compliance with its statutes regarding execution of wills. This is to assure the authenticity of such an important document profoundly affecting many lives, and prevent fraud and imposition in its execution. The statutory provisions, which…
Ademption: When devises are actually not part of the estate Many unexpected things can happen in the period between the execution of a will and the death. For example, a decedent may devise the family house in Key West to her granddaughter. Several years after executing the will, the decedent…
Time Limitations for Proceedings Against Trustees: Discussing Failure to Account An individual serving as a trustee owes certain duties to the beneficiaries of that trust. One such duty is the duty to account to the beneficiaries. Failure to provide an accounting as required in § 736.0813, Fla. Stat. is a…
What Effect Does Divorce or Remarriage Have On Your Estate Plan Anytime there is a major life change, whether it is the birth of a child, marriage, or divorce, your estate plan should evolve as your life evolves. But do any of these events result in automatic changes to your…