The SECURE Act of 2019: Does it Affect You?

Background As you may be aware, on Friday, December 20, 2019, President Trump signed legislation that contains provisions from the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “ SECURE Act,” or “ Act”). The SECURE Act includes several provisions affecting Individual Retirement Accounts (“IRAs”). No IRA? No Problem. If you do not have an IRA, this change in the law will not affect you and your estate planning documents. If you have an IRA that is worth over $500,000 or makes up a substantial part of your overall estate plan, and your IRA designates a trust …

Effects of Marriage and Divorce on Wills

People do crazy things when they are in love, but if they fall out of love, these same people generally want out of any arrangements that they made while under the influence (of love).  On the other end of the spectrum, sometimes spouses get wrapped up in the newness of marriage, and they forget to change their estate planning documents to account for their new spouse.  Florida law has solutions for both of these scenarios, though a recent case illustrated a wrinkle in the solutions. Although the subsequent marriage of an individual doesn’t revoke a prior will, a pretermitted spouse …

A Digital Will for a Digital World

The Digital World When Copernicus announced that the Earth revolves around the Sun, there were likely some folks in his audience who politely nodded and returned to darning their socks, making pierogis, or whatever else 16th century Polish peasants were wont to do to pass the time.  Do not be a pierogi-making peasant, and pay heed to our equally revolutionary proposition: the world is becoming more and more digital each day, whether you like it or not, and it is high time to adapt – especially your estate planning procedures. Consider that by 2017, 92% of Americans were using the …

Demystifying Probate in Florida

As estate planning attorneys, we use the word “probate” so often that we lose sight of the fact that the concept is not so familiar to the uninitiated. Indeed, in our last article, we discussed avoiding “digital probate.” In the following article, not only will we define the term, but we will explain the nuances of the process in Florida. What is Probate? “Probate” comes from the same Latin verb as “prove” and “probative.” Indeed, probate literally means “something proved,” and for our purposes that “something” is a will. So, in a sense, probate is the process of “proving” a …

Estate Planning for Millennials

Confession I must confess something before we get to far into this post.  Despite my best efforts to act like a grumbly octogenarian whenever it’s not too socially uncouth—I am a millennial. What is a Millennial? Millennials, defined by the Pew Research Center, as those individuals born between 1981 and 1996, are commonly looked down upon by the Baby Boomers (1946-1964) and Generation X (1965-1980).[1] Often mistaken for hipsters, which is as much an overemphasized subculture of the millennial era as the beatniks were of the early Baby Boomer years, millennials often get a bad rap.  Not all of us …