Another Reason to Update Your Legal Documents to Florida Law

The Illinois Department of Revenue (IDR) once attempted to tax a trust that had been moved from Illinois to Texas after the grantor’s death, even though the trust had been moved to Texas. The trustees of the trust had to expend considerable sums fighting off the IDR. This is a lesson that those who have […]

How Often to Update?

I am often asked the question how often one should review and update one’s estate planning documents, including your will and/or trust. My general answer is that you should treat your estate planning documents the same way you treat your health. Most people make an annual visit to the doctor to make sure that everything […]

Married Couple Can’t Split Residency to Retain Dual Homesteads

At the conclusion of our recently held client workshops we open the floor for questions. At all three of the venues a common question arose, “Can I be a Florida resident while my wife remains a resident of northern state?” My follow up question in each case was, “Why would your wife still want to […]

Declaring Florida Residency

There are many advantages to declaring Florida residency, but how does one go about doing so? Abandoning residency in one state to establish residency in Florida often is a factual question, which is established on a case by case basis. Some states have adopted laws (which are all different) which impose certain tests to determine […]

Don’t Write in the Margins

While attending law school, I used to take a yellow highlighter and pen, writing in the margins of my textbooks to annotate what I viewed as the important passages related to that day’s assignment.When a professor called on me in class, I found these highlights and marginalia invaluable. Many of us are used to taking […]

Five Reasons Baby Boomers Need to Update Their Estate Plans

I was born at the tail end of the baby boomer generation – which is said to include all those born between 1946 and 1964. We’ve been a royal pain-in-the-rear generation – first swelling the ranks of classrooms causing the construction of new schools, and then making college admissions hyper-competitive, afterwards increasing the demand for […]

Becoming a Florida Resident Necessitates an Estate Plan Update

Many people move to Florida or establish residency here not only for the sunshine but also to minimize their tax burden. When you move to Florida, it’s wise to consider an update to your estate plan. Florida residency offers several advantages. Since Florida does not have a state income tax, the tax on unearned income […]

My Northern Attorney is Licensed in Florida

At the risk of sounding self serving, today I’m going to relate to you a story that occurs in my office too frequently. Regular readers of my column will recall that I commonly write how each state’s tax, trust and estate laws are different, and therefore upon becoming a Florida resident, one should visit with […]