The popularity of ‘do-it-yourself’ estate planning has skyrocketed in the last 20 years. Because of the ease with which someone can create legacy planning documents using Google, AI, Chat GPT and Legal Zoom, many people believe they can find enough legal information online to create their own family living trust without the guidance of a competent …
A trust is the most popular way to transfer assets to future generations with a plan for management of those assets beyond multiple lifetimes. More specifically, a trust is a private contract between (i) the settlor or creator of the trust, and (ii) the trustee of the trust, i.e. the party designated by the settlor …
What is a Testamentary Trust and Why Do I Need One? Read More »
The answer is a common one: it depends on the facts and circumstances. It depends on what is your relationship is to the person you want to. . .
An irrevocable trust is most commonly established by written trust agreement amongst family members and cannot be modified or terminated unless ordered by the Court or all parties to trust otherwise agree. An irrevocable trust may also be created upon death via last will or revocable living trust. While there are several reasons for establishing …
What Is An Irrevocable Trust And Why Do I Need One? Read More »
With the prevalence of do-it-yourself online estate planning tools, there has been an increase in the number of Florida residents that sign Last Will and Testaments that are incomplete or improperly executed. If the testator passes away having executed a Will with inadequate or ambiguous language, it may leave the Will subject to interpretation over …
If I were to list the top legal self-help blunders that clients end up regretting, near the top of the list would be recording real property deeds without consulting an attorney to add or remove a family member’s name from the property’s title. While I understand why someone might want to do this, the fact is that recording …
There are several costs and considerations for unmarried adults who inherit or invest in jointly titled real property as a business enterprise. When cotenants cannot agree on the intended use of real property for investment, a partition action may be the only way to bring an end to the partnership and recover the equity and resources …
Breaking Up Isn’t Hard To Do: Partitioning Real Property Owned By Unmarried Cotenants Read More »
Heirs’ property ownership is a leading cause of wealth loss in many urban and rural Southeast U.S. communities including those estates subject to the Florida Laws of Intestate Succession. These laws apply when a property owner (decedent) dies without a Last Will or with a Last Will that does not comply with Florida law. In this …
What Are The Potential Problems With Inheriting Heirs’ Property In Florida? Read More »
With the Democrats taking control of the both the executive and legislative branch for the first time in a decade, President Biden’s tax policy ideas are anticipated. . .
Whether you are a musician, writer or artist engaged in creative endeavors, copyrighting your original works and identifying them within your estate plan is the only way to protect intergenerational ownership and income derived from use of your work product. While the average person does not need to worry about registering copyrights, structuring license agreements …
Estate Planning To Protect Copyrighted Works And Future Royalty Income Read More »
The law offices of Locksley A. Rhoden, P.L. dba The Wealth Protection Firm is a boutique personal services law firm specializing in
business, taxation, charitable organizations, trust and estate planning, probate administration, trust administration, probate litigation, trust litigation and IRS representation.
We provide our clients with comprehensive and customized planning solutions designed to protect assets, insulate liability
exposure, minimize taxes and plan the transition of ownership and control of family wealth to future generations.
