2015 Miami Market
Trusts & Estates Law | Tax Law

 

FLORIDA ESTATE PLANNING ATTORNEYS | ASSET PROTECTION PLANNING | PROBATE ADMINISTRATION
CORPORATE LAW | PARTNERSHIP LAW | FLORIDA TAX LAWYERS

   
TRUSTS & ESTATES - JULY 2004
    

2 articles published in July 2004
Trusts & Estates Magazine

THE FROZEN T-CLAT
By Donald R. Tescher & Barry A. Nelson

FLORIDA HOMESTEAD TRAPS
By Barry A. Nelson & Kevin E. Packman

The Frozen T-CLAT

An innovative technique gives clients use of their assets even as they reduce transfer taxes and leave money to charity.

How would you like to offer your well-to-do clients an estate plan that eliminates or significantly reduces estate taxes and generation skipping taxes (GST) while providing the family with immediate use of the assets and creating a significant charitable legacy? This is not a pie-in-the-sky goal. It can be achieved by meshing disparate planning techniques.

VIEW ARTICLE

Florida Homestead Traps

Think twice before flying south to exploit favorable homestead and bankruptcy laws. Case law and proposed bankruptcy reforms may clip a few wings.

People should think carefully before deciding to move to Florida to take advantage of the state's favorable asset protection laws. Attorneys and advisors need to have some understanding of the potential traps clients may fall into as they try to benefit from the Florida homestead exemption.

Creditors have been successful in forcing the sale of a homestead, with the sales proceeds allocated between the debtor homeowner and his creditors as well as in attaching a homestead through a lien.

To uproot a family during a time of financial stress is difficult, but to do so only to discover the anticipated benefits are nonexistent is devastating. So carefully plan and consider all risks before making the move to this so-called "debtor's haven."

VIEW ARTICLE

Top of Page

The following notice is required by the IRS: Any U.S. federal tax advice contained in the articles and information in this web site is not intended to be written or used, and cannot be used or relied upon, to avoid tax-related penalties under the Internal Revenue Code, or to promote, market or recommend to another any tax-related matter addressed herein.

 

 

     

The hiring of a lawyer or law firm is an important decision that should not be based solely upon this communication or the information provided herein. Before you decide whether to retain a lawyer or law firm, and before you decide  which lawyer or law firm to retain, call us and ask us to send you free written information about our qualification and experience.    FULL LEGAL DISCLAIMER | WEB SITE AGREEMENT  

Copyright 2011 Nelson & Nelson, P.A. All rights reserved.  |  Web Site Agreement  l  Site last updated November 20, 2014