As With Life, Timing Is Everything: Timing Pitfalls with Florida’s Elective Share Law

Recently, I was approached by a client, a daughter of the decedent, whose step-mother was attempting to destroy her father’s estate plan.  This is very common in blended families (i.e. second marriages with children from prior relationships).  Generally, in such marriages (often occurring later in life), the parties have not executed a prenuptial agreement.  Instead, […]

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Who Receives the Home: The Devise of Homestead and The Waiver of Homestead Rights When Using a Warranty Deed

Almost daily, I am approached by married client who want to create estate plan which effect the disposition of their Florida homestead. Many times, I executed deeds which transfer the homestead to one spouse’s revocable trust.  Since its homestead, both spouses sign the warranty deed. When the first spouse dies, questions are raised regarding the […]

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Related Party Sales and Attempting to Offset Gain with Capital Loss Carry Forwards – BAD IDEA

On occasion, I am approached by a business owner who wants sell assets to a related entity to achieve three main objectives:  1) a step up on basis for the assets sold to the related party (so they can be depreciated), 2) recognize taxable gain to offset prior capital losses, and 3) maintain control over the assets […]

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