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What is Estate Administration? “Estate administration” (also known as probate administration) is a term used to refer to the distribution of assets upon someone’s passing. Oftentimes, assets in an estate are passed on to family, friends, and loved ones of a decedent (deceased person) who has left behind a will. The probate court supervises the...Continue Reading

Increases to Estate and Gift Tax Exemptions in 2023 Did you know that you can pass a certain amount of your estate and cash gifts to friends and family completely tax-free? History of Estate and Gift Tax Exemptions In 2012, the American Taxpayer Relief Act (ATRA) was the first piece of legislation to allow a...Continue Reading

Steps to Update Your Will in the New Year A will is a legal document that outlines how you wish for the assets that make up your estate to be distributed after your death. There are many reasons why you would want to update your will. For example, it’s important to update your will to...Continue Reading

Reasons to Update Your Estate Plan A will or a trust outlines your desires for the splitting of your estate upon your passing. It also makes the probate and inheritance process much smoother for your friends and family. However, if you set up your estate plan years ago, there is a possibility that your estate...Continue Reading

Do US Citizens Living Abroad Have to Pay Taxes? If you’re considering living abroad, you may have asked yourself, “Does a U.S. citizen living abroad have to pay taxes?” The simple answer is, yes. Even if you are living out of the country, you still have to file a U.S. federal tax return. Keep reading...Continue Reading

4 Types of Probate With the holiday season approaching, you might be thinking about the best gifts to give your family members. But there is one gift you can start preparing for now to set them up for a more prosperous future. Proper estate planning can provide for your family long after you are no...Continue Reading

Protect Your Assets from Probate Probate can be a very complicated, public, costly, and lengthy process that most families would like to avoid. Luckily, there are ways to spare our families from the hassle of probate altogether. Let’s discuss some ways you can protect your assets from probate in Florida. Joint Ownership of Property  This...Continue Reading

Do You Pay Taxes on Your Inheritance in Florida? Only a few states in the United States impose an inheritance tax (or estate tax). But Florida is not one of those states. Beneficiaries and heirs do not pay income tax on assets or monies acquired from inheritance because Florida does not have its own (non-federal)...Continue Reading

Why You Need Probate Once someone passes away, their assets (including property, investments, bank accounts, etc.) go through a court-supervised process called probate. The decedent’s (deceased person’s) assets become part of an estate, and probate courts handle the administration of the decedent’s estate whether or not they have a will. But is probate necessary? Probate...Continue Reading