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4 Estate Planning Documents No Entrepreneur Should Be Without

What would happen to your business upon your death? What happens if you become incapacitated?  Although most entrepreneurs understand the value of effective business planning, fewer are aware of the critical role estate planning plays in their company’s ongoing success. Estate planning is one of the single-most important things you can do for your business. Read More

What is an Advance Directive and Why is it Important?

Estate planning includes both life and death issues, and one of the most important life issues – especially now with the pandemic – is how you want your health care handled if you are unable to speak for yourself.  One way to address these issues is with an Advance Directive.  Many people have heard of Read More

Protecting Children with an Estate Plan

According to a 2019 survey, 57% of adults in the United States have not prepared any estate planning documents, such as a will or trust, despite the fact that 76% viewed them as important. Many believed mistakenly that it was not necessary because they did not have many assets.  Estate Planning is not just for Read More

UPDATE ON REMOTE NOTARIZATIONS OF WILLS AND TRUSTS

Longa Law is implementing new protocols to minimize face-to-face contact to complete traditional signing ceremonies for Wills and Trusts with witnesses and a notary in the safest manner possible.  While we cannot offer you a signing ceremony that is completely online or remote today, we expect that to be a reality by this summer. Florida’s Read More

TAX UPDATE & EXTENSION

As of Friday, March 20th, the deadline to file tax returns has been extended to July 15th to file or pay 2019 income taxes (up to $1 million). During this time, filers will not incur interest on unpaid taxes or be subject to tax filing penalties. Taxpayers tend to procrastinate and wait to prepare their Read More

TRUST BASICS: HOW DO YOU ESTABLISH A TRUST?

Trust law is state specific, and Florida Statutes Section 736.0402(1) provides certain basic requirements to establish a trust: The settlor has capacity to create a trust. The settlor indicates an intent to create the trust. The trust has a definite beneficiary or is: A charitable trust; A trust for the care of an animal, as Read More

TRUST BASICS: HOW MANY WITNESSES ARE NEEDED FOR A TRUST?

A Trust is essentially an agreement between the Grantor (sometimes called the Trustor) and the Trustees, who maintain the Trust in accordance with its terms.  I tell clients to think of a Trust as a private treasure chest or safe deposit box for assets.  Trust law is state specific, so in Florida, the Florida Trust Read More

The SECURE Act – What You Need to Know

Last week I gave a presentation to a room of thirty folks at the Hale Senior Activity Center in Dunedin, Florida, and not a single person in the room knew what the SECURE Act is. Here is a brief look at the SECURE Act and who it effects. The SECURE Act took effect on January Read More

3 Tips to Prevent Exploitation with a Florida Power of Attorney

A power of attorney is a legal document delegating authority from one person to another. The maker of the power of attorney is called the “principal.” In the document, the principal grants the right to act on the maker’s behalf as that person’s agent. What authority is granted depends on the specific language of the Read More

10 Tips for Guardians of Older Adults

In my practice, I often help people make decisions for themselves about who will make decisions for them if they are incapacitated.  This is an important part of estate planning and can avoid formal guardianship proceedings.  Regardless, sometimes there is no other alternative for caregivers of older adults with capacity issues than to seek a Read More