Your Family Matters, P.A.

01/06/2023

A revocable trust is a type of trust that can be modified or revoked by the person who created it. This means that they retain control over the trust assets and can make changes to the terms of the trust or even dissolve the trust entirely.

On the other hand, an irrevocable trust is a trust that cannot be modified or revoked once it has been created. This means that they give up control over the trust assets and cannot make any changes to the terms of the trust.

One of the main differences between revocable and irrevocable trusts is the level of control that the grantor has over the trust assets.

The best option depends on individual circumstances. Our team can help determine which could fit best into your estate plan.

01/03/2023

The New Year is a great time to review and update all your beneficiary designations on accounts, such as life insurance policies and retirement accounts.

Don't forget to make sure they are up-to-date to ensure your final wishes are carried out.

01/01/2023

As the new year begins, it's a good time to review and update your estate plan. An estate plan is an important way to protect your assets and provide for your loved ones after you pass away. It can also help to minimize any potential legal disputes or financial challenges that may arise.

Take some time this month to sit down with our team to review your current plan, or create one if you haven't already. It's never too early to start thinking about the future and making sure your wishes are carried out in the way you intended.

Don't let another year go by without taking this important step.

01/01/2023

Happy New Year! We at Your Family Matters would like to take a moment to thank all of our wonderful clients who trusted us with their estate plans in 2022. We are very grateful for your support and confidence in us. We look forward to continuing to serve you in the New Year. Thank you!

12/25/2022

Merry Christmas from our family to yours ❤️

12/25/2022

Having a complete estate plan in place not only gives you peace of mind, but it also ensures that your wishes and desires are carried out after you're gone. Don't leave your loved ones in the dark – take the time to create a plan that protects them and your assets.

12/24/2022

Here are some estate planning tips to consider:

💡 Make a will to decide how you want your assets distributed after you die.

💡 Designate a power of attorney to make decisions for you if you become incapacitated.

💡 Set up a living trust to transfer ownership of your assets while you're alive and avoid probate.

💡 Make a list of your assets and consider who you want to inherit them.

💡 Update your beneficiaries regularly to align with your current wishes.

💡 Plan for long-term care in case of illness or injury.

💡 Consider asset protection strategies to shield your assets from creditors or lawsuits.

💡 Think about tax implications in your estate planning.

💡 Keep your documents organized and accessible to your loved ones.

💡 Review and update your estate plan regularly.

12/22/2022

An end of life wish is a specific request or desire that a person expresses about what they would like to happen during the end of their life. These wishes can cover a wide range of topics, including medical treatment, funeral arrangements, and distribution of assets.

End of life wishes are an important part of estate planning, as they allow individuals to make their wishes known and ensure that they are carried out according to their preferences. They can also provide guidance and comfort to loved ones who may be struggling with difficult decisions during a difficult time.

It is important to communicate your end of life wishes to loved ones and make sure they are documented in a legally binding document, such as a living will or healthcare power of attorney. This helps to ensure that your wishes are respected and carried out, even if you are unable to communicate them yourself.

12/20/2022

Many of our clients from northern states are *pleasantly* surprised to learn that the State of Florida does NOT impose an estate tax, also called an inheritance tax, or a "death tax".

In fact, state lawmaker don't have the ability to! The Florida Constitution prohibits an estate tax from being levied. In order to pass an estate tax, voters in Florida would first have to pass a constitutional amendment to allow for it.

The Federal government, how ever, does impose this sort of tax on estate over a certain amount. Additionally, if a Florida citizen owns land or property in another state which does impose the estate tax, then they may have to pay the tax to that state.

12/20/2022

A guardian is a surrogate decision-maker appointed by the court to make financial and personal decisions for a minor or an adult with certain mental or physical disabilities.

Guardianship is a legal process designed to protect and exercise the rights of individuals who are unable to make decisions for themselves due to functional limitations.

When the court determines that an individual is unable to manage their own affairs, either because they are a minor or because they have a disability, it may appoint a guardian to make decisions on their behalf. The guardian has a duty to act in the best interests of the individual, known as the ward, and to protect their well-being. The ward is a person whom the court has deemed legally incapacitated due to functional limitations.

This is why it is important for a person to, in their estate plan, appoint a trusted individual(s) to represent them, or their children, if something happens to them.

12/17/2022

One key piece of an estate plan is having an advanced healthcare directive in place.

An advanced healthcare directive is an important tool that allows you to plan ahead for medical decisions in case you become incapacitated. It ensures that your wishes are respected and that your loved ones can make the best decisions for you.

It certainly is not an easy topic to think about. But, like many tools in estate planning, it would provide a relief for both you and your family in case it ever were to be needed.

12/14/2022

An optional addition to your estate plan is something called a "letter of intent".

A letter of intent outlines your wishes and plans for your estate. It ensures that your loved ones are taken care of and your assets are distributed according to your wishes.

Writing a letter of intent is a thoughtful way to protect your loved ones and ensure that your wishes are carried out.

12/13/2022

There's undoubtedly a lot of documents that can make up a complete estate plan. Don't worry! That's why we are here to guide you through all of the important aspects of your estate plan, and make sure that you feel educated and empowered in your estate planning decisions.

Here's a few of the document names you may hear come up...

🤍 Last Will and Testament.
🤍 Living Trust
🤍 Durable Power of Attorney
🤍 Healthcare Power of Attorney
🤍 Living Will

12/09/2022

Making sure your beneficiaries are named appropriately is a key part of planning your estate.

Often times, a person will designate a beneficiary when they set up a retirement account or a life insurance plan. Swipe to see a few tips to think about on who you can have as your designated beneficiary.

12/08/2022

Remember, your estate plan should always make you feel more comfortable and in control. It gives you the power to...

Give What You Have
To Whom You Want
When You Want
The Way You Want

12/07/2022

Setting up multiple trusts can be a great way to ensure that your assets and wealth are managed in a way that best suits your needs. With multiple trusts, you can customize the terms of each trust to meet your individual requirements, create tax-efficient strategies, and facilitate estate planning.

There are many benefits to setting up multiple trusts, such as protecting your assets, minimizing taxes, and creating a legacy for your family.

12/03/2022

Did you know in Florida you can designate two Power of Attorneys?

Each family and individual circumstances differ. For some, having two Power of Attorneys (POA) can be a helpful way to ensure that your financial and medical affairs are taken care of in the event of your incapacity. There are multiple ways it can be set up, including giving separate set of powers to separate people.

It is always important to choose someone you trust to act in your best interests in the event that you are unable to.

12/02/2022

A carefully drafted will is one of the most important documents you’ll ever create. It allows you to determine who will inherit your assets, who will make decisions on your behalf if you’re ever unable to do so, and how your assets will be distributed.

Don’t leave your loved ones guessing – take the time to ensure your wishes are respected and your assets are protected.

11/29/2022

The holiday season is the most popular time for couples to become engaged 💍 Which makes it the perfect time to discuss a prenuptial agreement 😏

Prenups have received a bad reputation thanks to misrepresentation on movies and TV shows. They are, essentially, a contract the couple signs before the marriage that determines the distribution of assets, debts, alimony, and other issues in the event of divorce.

Prenups do not mean a relationship is doomed for divorce. However, in the event of divorce, it does save the couple quite a bit of heartache during an already emotionally taxing time.

11/26/2022

Dear Friends, Clients & Colleagues... Please join me and a group of wonderful local professionals in celebrating the season AND contributing to our efforts in supporting children in foster care. Our annual Christmas party is coming up next week and we would love for you to join us! You can RSVP at the following link:
http://kbafl.eventbrite.com/

11/26/2022

Our clients frequently ask which major purchases should be included in an estate plan, such as jewelry and new vehicles.

These valuable items should certainly be included in your will, but not necessarily in a living or revokable trust.

For example, vehicles in Florida, in most cases, can be easily transferred to the person named in the will, without having to involve probate.

Is there a new purchase you're considering? Reach out to us!

11/24/2022

Happy Thanksgiving to you and your family!

11/23/2022

Remember - you are in control of who is named in your estate 😉

11/18/2022

New baby, new adoption, or new children from a new marriage - these are all exciting times!

It is also the perfect time to update an existing Will or Living Trust. Beneficiaries of a Will or Trust are typically explicitly named in an Estate Plan. This cuts down on the chance that your last wishes can be confused or misconstrued.

Additionally, if you marry someone who already has children and you become a stepparent, you may want to update your list of Beneficiaries.

11/17/2022

Have you bought a new home recently? Don't forget to update your estate plan!

Purchasing real estate is one of the biggest things you can do that will change the value of your estate. When you own property, you need a plan for what will happen to it after you die.

Adding your new home to your Estate Plan ensure that your spouse or partner can continue living in the home you shared. It is important to update the Schedule of Assets of your Trust any time you make a large or significant purchase.

11/15/2022

We are so blessed to get to work with the most amazing people!!! A very sweet client brought us some local honey from their trip to Asheville. It’s the little things that go such a long way to remind us of the impact our work has & why we do what we do!

11/15/2022

Thank you to our clients and families that trust us to take care of your estate planning needs!

Our goal is to make you feel educated, empowered, and yes - like family!

⭐️⭐️⭐️⭐️⭐️

11/11/2022

To all those who have served, and those who continue to serve… Happy Veterans Day!

11/10/2022

Praying for our friends on the east cost and central parts of Florida today!

11/10/2022

Legacy: the Masterclass Series - How to Have ‘the Money Talk’ With Your Loved Ones

Talking to your loved ones about money is hard but is so incredibly important. Please join me in this group to learn how to open up these lines of communication

Ali Katz, Founder and CEO of Personal Family Lawyer®️ and NLBM, is giving you the tools you need to have the money talk with your parents (or the people closest to you if your parents are no longer living), so you can change the entire trajectory of your family’s financial reality right now, an...

11/09/2022

A good estate plan = peace of mind.

An estate plan done well steps in during some of the most emotional and vulnerable moments in life. All this month we are going to be looking at and breaking down some of the key components of a good estate plan.

Stay tuned for more! But in the meantime, drop a comment ⬇️ on what questions you'd like us to answer regarding estate planning.