Florida Legal Blog

In Florida, it is generally easy and convenient to leave funds or other assets to charitable organizations. Many people believe that they cannot afford to give to their favorite charity without upsetting the other bequests to their family and friends. That is generally a false presumption because there are various tax benefits for charitable gifts that may possibly make up for any loss in one's corpus. The best way to see what can be afforded and how to set it up is to meet with one's estate planning attorney and, if needed, a qualified financial planning expert.

It is popular for people to donate funds to charity at the time of their death. Although it may appear to be complicated, the steps are actually fairly easy, after the determinations are made regarding gifting, tax considerations and the achievement of one's estate planning goals. The gift at the time of death will be set forth in one's will, where it can be easily measured against the gifts to a person's heirs.

Retirement is a time for you to relax and enjoy life after a lifetime of working hard. While you may not want to think about additional planning or life logistics now that you no longer have to go to a job every day, the reality is that there are some issues that you should not overlook now that you are in your retirement years.

Estate planning is a comprehensive term for a series of legal documents and decisions that you can make in advance regarding your financial situation and the distribution of your assets after your death. While no one necessarily enjoys having to consider issues surrounding mortality, if you plan in advance, you can bring peace of mind both for yourself and your family.

Students in Florida and nationwide who are veterans are entitled to receive payments toward their housing expenses through what is called the GI Bill. The Department of  Veterans Affairs has confirmed that software glitches made payments for housing allowances in August smaller than veterans' entitlements under federal law. In fact, veterans have suffered various paperwork glitches over the past 10 years that have kept their veterans' benefits inconsistent and in a state of periodic chaos.

The problems reached critical mass this school year, leading to 15 veterans groups recently sending a letter to the VA calling the breakdown "an organizational and customer service failure" of the highest kind. The letter asked the VA to stop letting students, their families and the schools remain in confusion and suspense while the VA continues to fail in finding ways to restore the system. A change in law last year had an impact on the amount of various allowances, but the VA has been unable to make the data and programming changes to reflect the proper amounts.

Studies pertaining to Florida and nationwide indicate surprisingly that cognitive decline regarding sound financial decisions may begin to occur when one is in his or her 30s. It may not be noticeable, but the gradual toll may occur over the next several decades and may lead to a point where it is to some degree noticeable. Researchers have discovered that persons in their 70s, 80s and beyond can be capable of keeping up with the more basic tasks, such as paying bills, the mortgage and conducting most or all everyday living tasks. For these reasons, some preliminary elder law planning can help in meeting any future challenges.

Although taking care of bank accounts, basic light shopping, paying bills and the like may be perfectly manageable for most healthy people, there are some older persons who may become disabled or incompetent to handle most or all of their necessary tasks. The durable power of attorney will have been prepared when the will and other estate planning documents are done. This provides for a trusted family member, friend or institution to manage one's daily and long-term financial tasks during an incapacity.