Donald B Linsky & Associates PA Blog

How Estate Planning Helps You Avoid Probate Delays

Fri, 10 Apr 2026 14:26:15 GMT

When a loved one passes away, families often expect to spend their time focusing on grief, support, and practical next steps. Instead, many find themselves dealing with legal paperwork, court procedures, and frustrating administrative issues tied to probate. Probate is the process of settling a person’s estate, paying debts, and distributing property under court supervision. While probate may be necessary in some situations, it can also create delays that leave families waiting for access to accounts, real estate, and other important assets during an already difficult time.

This is one reason estate planning matters so much. A thoughtful plan can help organize your affairs, clarify your wishes, and reduce the obstacles your family may face later. Rather than leaving major decisions to chance or court timelines, planning gives you an opportunity to put tools in place that may simplify the transfer of property and reduce confusion after your death. In this article, we will explain how it helps you avoid probate delays and why planning ahead can make a meaningful difference for the people you care about most.

Understand the Probate Process Early

Probate can sound straightforward in theory, but in practice, it often involves multiple steps that take time to complete. The court may need to validate a will, appoint a personal representative, identify heirs, notify creditors, inventory assets, resolve disputes, and approve final distributions. Even when families are cooperative, the process can move slowly because of filing deadlines, hearing dates, document requests, and the overall pace of the court system. According to Experian, probate typically takes between eight and twelve months. However, the process may be faster if a valid will is in place or if your state provides an expedited probate procedure.

Understanding that timeline helps explain why many people want to reduce the amount of property that must pass through probate. Delays can affect access to funds needed for mortgage payments, taxes, maintenance costs, or other ongoing expenses. In some cases, beneficiaries may wait months before they can sell or manage inherited property. Estate planning helps address these risks by creating a framework for how assets should pass and by identifying ways to move certain property outside the probate process. The earlier you understand the challenges tied to probate, the easier it becomes to see the value of proactive planning.

Create a Clear Plan for Assets

One of the most practical ways to reduce probate delays is to organize your assets and decide how they should be handled before a crisis occurs. Many families run into problems because important information is scattered, account details are outdated, or ownership records are unclear. A good plan identifies what you own, how each asset is titled, who should receive it, and whether any changes are needed to support a smoother transfer later. That level of clarity can reduce confusion and limit the time spent sorting through paperwork after your death.

Estate planning also gives you a chance to review whether your current documents still match your wishes. A will may be part of that process, but it is only one piece of the larger picture. Real estate deeds, bank accounts, investment accounts, retirement plans, and life insurance policies may each have their own rules about transfer. When those details are reviewed together, it becomes easier to spot gaps that could lead to delay. It works best when it is treated as a coordinated strategy rather than a single document signed and forgotten.

Use Trusts to Transfer Property

Trusts are often discussed in connection with avoiding probate because they can provide a way for certain assets to pass without court involvement. When property is properly transferred into a trust during your lifetime, the trust becomes the legal owner of those assets. After your death, the person you named as trustee can manage and distribute them according to the trust terms. This may allow your family to move forward more efficiently than they could if those same assets had to go through the probate court process first.

Not every person needs the same kind of trust, and not every asset must be placed in one, but trusts can be a valuable part of estate planning when probate avoidance is a priority. They may also provide added privacy, since probate filings can become part of the public record, while trust administration is often handled privately. Of course, a trust only helps if it is funded properly. That means assets must actually be retitled or assigned to the trust as appropriate. It should include a careful review of funding steps so the trust can function the way it was intended.

Update Beneficiary Designations Regularly

Beneficiary designations are another important tool for reducing probate delays because certain accounts can pass directly to a named person without becoming part of the probate estate. Life insurance proceeds, retirement accounts, and some financial accounts may transfer this way if the beneficiary forms are completed correctly and kept current. These designations can sometimes override instructions in a will, which is why it is so important to review them as part of an overall plan. Outdated forms may send assets to an unintended person or create disputes that slow down administration.

Regular reviews are especially important after major life changes such as marriage, divorce, the birth of a child, or the death of a previously named beneficiary. Estate planning should include checking beneficiary designations alongside other legal documents so everything works together instead of at cross purposes. Even a well-drafted will may not prevent delays if account paperwork is incomplete or inconsistent. Keeping these designations current can help your loved ones receive assets more quickly and with fewer procedural obstacles.

Retitle Property With Care

How property is titled can have a major effect on whether it passes through probate. Some assets owned jointly with rights of survivorship may pass automatically to the surviving owner, while others held solely in one person’s name may require probate before they can be transferred. Deeds, vehicle titles, and financial account ownership should all be reviewed carefully to determine whether the current structure supports your goals. Small details in ownership records can make a big difference once an estate must be administered.

This is why estate planning often involves more than signing a will or trust. It may also involve changing how assets are titled, so they align with the rest of your strategy. Those changes should be made thoughtfully, since ownership decisions can affect taxes, control, and creditor issues as well as probate exposure. A coordinated review can help prevent situations where a document says one thing but an asset title points in another direction. By paying attention to how property is held, families may avoid unnecessary court delays and administrative complications later.

Review Documents as Life Changes

Even strong planning can lose value if it is never updated. Families, finances, and personal goals change over time, and legal documents should reflect those changes. Someone you named years ago as an executor, trustee, or beneficiary may no longer be the right choice today. You may have purchased a new property, opened new accounts, started a business, or welcomed new family members since your last review. When documents and asset records fall out of date, the risk of probate delays often increases.

Estate planning should be reviewed periodically so it continues to serve its intended purpose. This does not mean every update requires a complete overhaul, but it does mean taking the time to revisit your plan after major life events or after several years have passed. A review can uncover missing assets, outdated instructions, or paperwork that no longer matches your current circumstances. Keeping your plan current can spare your loved ones from confusion, reduce the chance of disputes, and improve the likelihood of a smoother transfer process when the time comes.

Probate delays can create stress, expense, and uncertainty for families who are already dealing with loss. By understanding how probate works and using tools such as wills, trusts, beneficiary designations, and updated ownership records, estate planning can put your affairs in better order and make future administration more manageable. If you want to take steps toward a more efficient transfer of assets, contact Donald B Linsky & Associates PA today.

Why Update Your Will and Estate Planning After Life Changes?

websites@hibu.com (Hibu Websites) — Wed, 29 Oct 2025 23:45:00 GMT

When life changes, your legal and financial plans should change too. At Donald B. Linsky & Associates PA, we’ve seen how major milestones can affect a person’s financial future. Keeping your wills and estate planning in Tampa, FL, current ensures your assets are protected, your family’s needs are met, and your wishes are carried out exactly as you intend. Whether you’ve recently married, divorced, had a child, or purchased property, reviewing your estate plan can prevent confusion, delays, and legal complications later on.

Why Life Events Should Trigger an Estate Plan Review

Wills and estate planning are not static documents. They evolve as your life and family change. A plan made ten years ago may no longer reflect your current financial situation or personal priorities.

Common Life Events That Require an Update

You should revisit your estate plan after any of the following:

Marriage or divorce: Changes in marital status affect how your assets are distributed and who has authority in medical or financial decisions.
Birth or adoption of a child: Adding a new family member requires updating guardianship designations and inheritance plans.
Death of a loved one: The passing of a beneficiary or executor may leave your plan incomplete.
Buying or selling property: Major real estate transactions can impact how your estate is valued and divided.
Business ownership changes: If you start, sell, or expand a business, your estate plan should reflect new financial realities.
Relocation: Moving to another state or country may require compliance with different estate laws.

Each of these moments is an opportunity to review your will and estate planning with an experienced attorney who understands both local and state laws.

Legal and Financial Implications of an Outdated Estate Plan

Failing to update your estate plan can create unintended consequences for your family and finances. A trusted attorney who handles wills and estate planning can help you avoid these risks.

Unintended Beneficiaries

If your plan still lists an ex-spouse or outdated beneficiary, your assets could go to someone you no longer wish to include. Courts often rely on the most recent version of your legal documents, even if your personal relationships have changed.

Probate and Legal Delays

An outdated plan can make probate more complicated. According to SmartAsset https://smartasset.com/estate-planning/probate-assets-vs-non-probate , assets that are not properly titled or updated may end up in probate court, delaying distribution and increasing legal costs. Keeping your will and estate planning updated minimizes these complications and speeds up the process for your loved ones.

Tax Consequences

Estate laws and tax thresholds change over time. Without periodic updates, your heirs might face unnecessary taxes or miss out on legal protections that could have minimized their liabilities.

Confusion and Family Disputes

When documents are unclear or outdated, family members may disagree over your intentions. Clear, updated wills and estate planning can prevent disputes and ensure that your loved ones understand your wishes.

How Updated Documents Protect Your Family’s Future

Wills and estate planning are more than legal forms, they’re safeguards for your family’s well-being. Keeping it current means that no matter what happens, your assets will be managed and distributed according to your preferences.

Clear Asset Distribution

An updated will ensures each asset, account, and property is properly designated. This includes clarifying who inherits specific items or financial accounts, reducing the risk of overlap or omissions.

Guardianship and Care Decisions

If you have minor children, naming or revising guardians is essential. Life circumstances can change, and the person you named years ago may no longer be the best fit.

Health Care and Financial Directives

Your estate plan should include medical directives and powers of attorney. Updating these documents ensures that trusted individuals can act on your behalf in case of illness or incapacity.

The Role of Professional Guidance

Working with an experienced attorney who specializes in wills and estate planning ensures that every detail of your plan complies with current laws and reflects your wishes accurately.

Why Work With a Local Attorney?

A local estate planning attorney understands Florida’s unique laws regarding property ownership, taxation, and probate. Donald B. Linsky & Associates PA has years of experience helping Tampa families navigate complex estate issues with clarity and confidence.

You can learn more about our estate planning services here https://www.linskylaw.com/estate-planning-attorney .

Benefits of Regular Legal Reviews

Ensures your documents comply with the latest state laws.
Protects against tax changes that affect your estate.
Keeps your beneficiaries and executors properly listed.
Reflects your current assets and financial goals.

Even if nothing significant has changed, reviewing your wills and estate planning every three to five years helps identify updates or legal improvements you might not have considered.

How to Update Your Estate Plan

Updating your will or estate plan doesn’t have to be complicated, especially with professional support. The process typically includes:

Reviewing your current documents: Your attorney checks for outdated information, errors, or missing details.
Assessing your current life situation: Family structure, finances, and property holdings are evaluated.
Making necessary changes: Beneficiaries, executors, guardians, and asset allocations are adjusted.
Signing and notarizing new documents: Ensures your updates are legally binding under Florida law.
Storing your updated plan securely: Keep copies with your attorney and trusted family members.

If you’re a new client, you can begin the process with our client information resources https://www.linskylaw.com/new-client-information to help organize your documents.

Common Mistakes to Avoid When Updating

Even with the best intentions, some people make errors when revising their wills and estate planning documents.

Overlooking Beneficiary Designations

Many people forget that life insurance policies, retirement accounts, and investment portfolios have their own beneficiary designations. These must match your estate plan to avoid conflicting instructions.

Failing to Revoke Old Documents

Always ensure older versions of your will are formally revoked. Keeping multiple active documents can lead to confusion or disputes in court.

Ignoring Digital Assets

Modern estate plans should include online accounts, digital files, and social media profiles. Assign someone the authority to manage or close these as part of your estate.

Why Regular Updates Provide Peace of Mind

Keeping your estate plan up to date is one of the most caring things you can do for your family. It provides:

Security: Ensures your property is protected.
Clarity: Reduces misunderstandings among loved ones.
Efficiency: Helps your estate avoid delays and extra costs.
Control: Reflects your current wishes in every legal document.

Estate planning is not just about preparing for the future; it’s about ensuring your loved ones are supported when they need it most.

Take the Next Step Toward a Secure Future

If it’s been several years since you reviewed your will, now is the time to act. The attorneys at Donald B. Linsky & Associates PA can help you update your wills and estate planning in Tampa, FL, to reflect your current life circumstances. Contact us https://www.linskylaw.com/estate-planning-services-tampa to protect your assets, prevent disputes, and give your family the peace of mind they deserve.

Why Every Tampa Resident Needs an Estate Planning Attorney

websites@hibu.com (Hibu Websites) — Thu, 10 Jul 2025 14:17:00 GMT

Estate planning is a crucial step in securing your future and protecting your loved ones, yet many people delay it, assuming it’s only for the wealthy or elderly. The reality is that every adult—regardless of age or financial status—should work with an estate planning attorney in Tampa, FL to ensure their wishes are legally documented. Without a proper plan, Florida’s intestacy laws will determine what happens to your assets, healthcare decisions, and even your minor children—often in ways you wouldn’t choose. At Donald B. Linsky & Associates PA, we specialize in helping Tampa residents create customized estate plans that provide security and peace of mind. Whether you’re a young professional, a growing family, or nearing retirement, proactive planning ensures that your legacy is protected.

Debunking Common Estate Planning in Tampa, FL Myths

Many misconceptions prevent people from taking action. Let’s clarify some of the most common myths:

Myth 1: “Estate Planning is Only for the Wealthy”

Even if you don’t own a mansion or a million-dollar portfolio, you still have assets that need protection—bank accounts, vehicles, personal belongings, and even digital assets. Without a will, Florida’s probate court will distribute your property according to state law, which may not align with your wishes.

Myth 2: “I’m Too Young for Estate Planning”

No one expects a medical emergency or accident, but they can happen at any age. If you’re incapacitated without a healthcare directive or power of attorney, your family may face legal hurdles to make decisions on your behalf.

Myth 3: “A Will is All I Need”

While a will is essential, a comprehensive estate plan includes:

Power of Attorney (Financial & Medical) – Ensures someone you trust can manage your affairs if you’re unable to.
Living Will (Healthcare Directive) – Specifies your medical preferences in life-threatening situations.
Trusts (if applicable) – Helps avoid probate and maintain privacy.

An estate planning lawyer in Tampa, FL can help you determine which documents best fit your needs.

Key Documents Every Tampa Resident Should Have

Last Will and Testament

A will is the foundation of any estate plan. It allows you to:

Name beneficiaries for your assets.
Appoint a guardian for minor children.
Choose an executor to manage your estate.

Without a will, Florida law decides who inherits your property—often leading to disputes among family members.

Durable Power of Attorney (POA)

A financial POA authorizes someone to handle your bills, investments, and legal matters if you become incapacitated. Without one, your family may need court intervention, which is costly and time-consuming.

Healthcare Directives

Healthcare Power of Attorney – Designates someone to make medical decisions for you.
Living Will – Outlines your wishes regarding life support and end-of-life care.

These documents prevent confusion and ensure your medical preferences are followed.

Revocable Living Trust (For Some Individuals)

A trust allows assets to bypass probate, saving time and legal fees. It’s especially useful if you:

Own real estate.
Have significant investments.
Want to provide for a disabled family member.

An estate planning attorney in Tampa, FL can advise whether a trust is right for you.

Real-Life Scenarios Where Estate Planning Is Essential

Scenario 1: Unexpected Illness or Injury

Imagine you’re in a car accident and unable to communicate. Without a healthcare directive, doctors will follow standard procedures—which may not align with your wishes. A power of attorney ensures your spouse or trusted person can manage your finances while you recover.

Scenario 2: Sudden Passing Without a Will

If a young parent passes away without a will, the court decides:

Who gets custody of their children.
How their assets are distributed.

This can lead to lengthy legal battles and unintended heirs receiving your property.

Scenario 3: Blended Families & Second Marriages

Without clear documentation, a surviving spouse and children from a previous marriage could clash over inheritance. A well-structured estate plan prevents disputes and ensures fairness.

How Donald B. Linsky & Associates PA Can Help

Our firm has been serving Tampa residents for years, offering personalized estate planning solutions. Here’s how we assist our clients:

Customized Legal Strategies
Compassionate Guidance
Ongoing Support

Take the First Step Toward Protecting Your Legacy

Estate planning isn’t just about distributing assets—it’s about ensuring your loved ones are cared for and your wishes are honored. Whether you’re just starting or need to update an old plan, an estate planning lawyer in Tampa, FL can make the process smooth and stress-free. The best time to plan is now—before an emergency arises. Contact us today at Donald B. Linsky & Associates PA to schedule a consultation with an experienced estate planning attorney in Tampa, FL. Let us help you build a plan that brings clarity, security, and peace of mind for you and your family.

Trusts vs. Wills - What's the Difference?

websites@hibu.com (Hibu Websites) — Thu, 15 May 2025 08:49:00 GMT

Are you planning your estate but feeling unsure about whether to choose a will or a trust? You're not alone. Many people in Tampa, FL are uncertain about which option is best for them. It can be confusing to know which option is best for you. But don't worry, we've got you covered. In this article, we'll break down the key differences between wills and trusts, so you can make an informed decision about which one is right for you.

What is a Will?

A will is a legal document that outlines your wishes for the distribution of your assets after your death. It also names an executor who is responsible for carrying out your wishes and settling your estate. Wills only go into effect after your death and can be changed or revoked at any time during your lifetime. It is important to note that a will must go through probate court, which can be a lengthy and expensive process.

What is a Trust?

A trust is a legal arrangement in which you transfer your assets to a trustee to manage on behalf of your beneficiaries. There are two types of trusts: revocable and irrevocable. A revocable trust can be changed or revoked during your lifetime, while an irrevocable trust cannot. A trust can help you avoid probate court, minimize estate taxes, and protect your assets from creditors.

Key Differences between Wills and Trusts

One of the main differences between wills and trusts is when they take effect. A will only goes into effect after your death, while a trust can take effect during your lifetime. This means that a trust can be used to manage your assets if you become incapacitated or unable to manage them yourself. Another key difference is the probate process. As mentioned earlier, a will must go through probate court, which can be a lengthy and expensive process. A trust, on the other hand, can help you avoid probate court and ensure that your assets are distributed quickly and efficiently. Finally, a trust can offer more privacy than a will. When a will goes through probate court, it becomes a matter of public record. A trust, on the other hand, is a private document that does not have to go through probate court, which means that your wishes can remain private.

Which one is right for you?

The decision to use a will or a trust depends on your individual circumstances and goals. If you have a simple estate with few assets and beneficiaries, a will may be sufficient. However, if you have a complex estate with multiple assets and beneficiaries, a trust may be a better option. An estate planning lawyer can help you determine which one is right for you. In conclusion, both wills and trusts are important estate planning tools, but they have different purposes and benefits. It is important to consult with an estate planning lawyer in Tampa, FL to determine which one is right for you and your family. If you are in need of an estate planning lawyer in Tampa, FL , contact Linsky Law today at 813-634-5566 . Our experienced attorneys can help you create a comprehensive estate plan that meets your unique needs and goals. We proudly serve the Sun City Center, FL, area and look forward to serving you.

The Importance of Estate Planning in Sun City Center, FL: What You Need to Know

websites@hibu.com (Hibu Websites) — Mon, 13 Jan 2025 15:13:00 GMT

Are you a resident of Sun City Center, FL? Do you want to protect your legacy, provide for your loved ones, manage taxes, and ensure a smooth transition of wealth? If so, then you need to work with an experienced estate planning attorney to create a comprehensive plan. Estate planning is essential for safeguarding your assets and ensuring your wishes are honored.

What is Estate Planning?

Estate planning is the process of preparing for the transfer of your assets after your death. It involves creating a will, setting up trusts, designating beneficiaries, and making other arrangements to ensure that your assets are distributed according to your wishes. Estate planning also involves planning for incapacity and end-of-life decisions, such as creating a durable power of attorney, and a living will.

Why is Estate Planning Important?

Estate planning is important for several reasons. First, it allows you to protect your assets and ensure that they are distributed according to your wishes. Without an estate plan, your assets may be subject to probate, which can be a lengthy and expensive process. Second, estate planning can help you minimize taxes and other expenses associated with transferring your assets. Third, estate planning can help you provide for your loved ones, including minor children and family members with special needs. Finally, estate planning can help you ensure a smooth transition of wealth to your beneficiaries.

How Can an Estate Planning Attorney Help?

An estate planning attorney can help you create a comprehensive estate plan that meets your unique needs and goals. They can advise you on the best strategies for protecting your assets, minimizing taxes, and providing for your loved ones. An estate planning attorney can also help you navigate complex legal issues, such as trust administration and probate.
At Linisky Law , we understand the importance of estate planning for residents of Sun City Center, FL. Our experienced estate planning attorneys can help you create a comprehensive plan that meets your unique needs and goals. We can advise you on the best strategies for protecting your assets, minimizing taxes, and providing for your loved ones. We can also help you navigate complex legal issues, such as trust administration and probate.
Estate planning is essential for safeguarding your assets and ensuring your wishes are honored. If you are a resident of Sun City Center, FL, then you should work with an experienced estate planning attorney to create a comprehensive plan. At Linisky Law, we can help you with all aspects of estate planning, from creating a will to setting up trusts to navigating complex legal issues. Are you ready to create a comprehensive estate plan that meets your unique needs and goals? Contact Linisky Law today to schedule a consultation with one of our experienced estate planning attorneys. We can help you with all aspects of estate planning in Sun City Center, FL.

The Critical Role Of Power Of Attorney

websites@hibu.com (Hibu Websites) — Thu, 04 Jan 2024 21:01:00 GMT

Life is full of unexpected twists and turns, and sometimes these can affect our ability to make important decisions for ourselves. That's where a Power of Attorney (POA) becomes a crucial tool. This important legal document permits someone else to make decisions for you if you become unable to make them yourself. This guide will explain the importance of having a Power of Attorney and how it protects your interests.

Power of Attorney Basics: Your Safety Net

A Power of Attorney acts as your voice when you can't speak for yourself. Whether due to illness, injury, or absence, a POA ensures that your financial, legal, and health matters are handled according to your wishes. By appointing a trusted person as your agent or attorney-in-fact, you grant them the authority to make decisions in your stead.
This arrangement not only provides peace of mind but also prevents potential legal complications that could arise if no one is legally designated to act for you. Without a POA in place, your family might face long, expensive legal proceedings to gain the authority to handle your affairs.

Power of Attorney Varieties: Tailoring to Your Needs

There are different types of Powers of Attorney, each serving a specific purpose. Understanding these types helps you choose the one that best suits your situation.

General Power of Attorney : This gives broad powers to your agent in managing your affairs. It's useful if you need someone to handle a range of activities, like banking, signing checks, and dealing with property.
Durable Power of Attorney : It remains effective even if you become mentally incapacitated. This type is crucial for long-term planning, as it ensures your affairs are managed as per your wishes even if you're unable to communicate your decisions.

Each type of POA has its place, and choosing the right one depends on your individual circumstances and future planning needs.

Health Care Power of Attorney: A Specialized Approach

A Health Care Power of Attorney is a specific type of POA that deals exclusively with medical decisions. This becomes active when you're unable to make your own healthcare decisions.
With a Health Care POA, your designated agent can make crucial health-related decisions, like medical treatments and end-of-life care, based on your preferences. It's an essential part of healthcare planning, ensuring that your wishes regarding medical treatment are followed, even if you can't communicate them yourself.

Setting Up a Power of Attorney: The Essential Steps

Setting up a Power of Attorney involves selecting a trusted individual as your agent and determining the powers you wish to grant them. It's a process that requires careful thought and legal guidance.

Choose Wisely : Your agent should be someone you trust completely, as they will have significant control over your affairs.
Legal Guidance : It's crucial to involve a lawyer in drafting your POA. They'll ensure it meets all legal requirements and truly reflects your wishes.

Remember, you can revoke or change your Power of Attorney at any time, as long as you're mentally competent. So, it's not a decision set in stone.

Financial Power of Attorney: Managing Your Wealth

A Financial Power of Attorney is a key tool for managing your finances when you can't do it yourself. This document empowers someone you trust to handle your monetary affairs, ensuring stability and continuity.

Responsibilities : Your appointed agent can manage tasks like bill payments, investment handling, and business affairs.
Flexibility : This POA can be structured to activate immediately or under specific circumstances, like illness or absence.

Entrusting someone with your financial Power of Attorney means your economic well-being is protected, no matter what life throws your way.
Reach out to a legal professional at Donald B Linsky & Associate Pa to take this important step in protecting your future interests. Remember, it's not just about planning for the unexpected; it's about ensuring your wishes are always respected and followed.

What Are the Most Common Real Estate Disputes?

websites@hibu.com (Hibu Websites) — Fri, 06 Jan 2023 17:20:00 GMT

If you're dealing with the real estate industry in any way, there is a high chance that you may get involved in real estate disputes. Real estate disputes are stressful, time-consuming, and expensive, especially if you opt to settle the matter in court. This article highlights three common types of real estate issues that you may encounter.

1. Breach of Contract

Whenever you decide to buy or sell a real estate property, you'll have to sign a legal contract. The contract normally contains vital information, including:

Purchase price
Financing
Property Description
Contingencies
Closing date

A real estate contract may also contain terms and conditions that each party should adhere to according to different situations. If any party violates the agreement terms willingly or unwillingly, they may face legal consequences.
To avoid such issues, always ensure your attorney is present before signing a contract. Your lawyer will go through the contract to ensure everything is correct. If any of the terms don't favor your interests, your attorney will negotiate on your behalf to ensure you get a fair deal.
One thing that you should keep in mind is that you can always ask the other party to adjust the terms to fit your needs long after signing the contract. When modifying the terms, both parties should be present and should do so in writing in the presence of an attorney.

2. Breach of Duty

The main duty of a real estate agent is to represent their clients' interests. In real estate, this duty is commonly referred to as a fiduciary duty .
There are several ways that a real estate agent can protect your interests. One of the common ways is by being honest when drafting and signing contracts. The agents should explain everything so you can know what you're getting into. Another way real estate agents can protect your interests is by keeping your information a secret, especially concerning finances.
Additionally, the agents ought to put your needs above those of any third party and should not represent another client in the same transaction without informing you or the other party.
A good example of breach of duty is when the real estate agent fails to inform you about any defects in the property, even when they knew about the problem before selling the property to you. If a real estate agent fails to fulfill their duty, you may lose a lot of money.

3. Boundary Disputes

All real estate properties should have a boundary around them. The boundaries help to define ownership so no one can trespass on your property. Additionally, boundaries can help you control your property according to your needs without anyone disturbing you.
However, sometimes you may discover that the property you bought doesn't have a clear boundary. The problem could be that the real estate owners did not register the boundaries or that the existing boundary exceeds the legally established boundary.
When property boundaries are not clear, neighbors may interfere with each other's territory, leading to disputes. In some instances, these disputes may require legal intervention.
Settling boundary issues in court is a time-consuming and expensive process. Nevertheless, you can easily avoid this conflict. All you have to do is research the property's legal boundaries before signing a binding contract. You can also involve your real estate attorney to avoid making mistakes.
Real estate conflicts are relatively common. However, you can easily avoid these disputes by involving an attorney during real estate transactions. Nevertheless, you may still find yourself in trouble no matter how careful you are, forcing you to seek legal help. If you're looking for an attorney to represent you, contact Donald B Linsky & Associate PA.

8 Reasons to Have a Will

websites@hibu.com (Hibu Websites) — Wed, 26 Oct 2022 16:23:00 GMT

The thought of death is frightening and taboo in many cultures, but you should make the proper preparations. One way to prepare for your death is to craft a will. A will is a document that outlines the distribution of your assets after your death.
Find out the benefits of crafting a will before you die.

1. Dictate Asset Distribution

The primary purpose of any will is to dictate who will receive your assets. Since you have worked hard for your money, real estate, personal belongings, and other things, you want the people closest to your heart to benefit from your assets. Most people leave their assets to their children, spouses, and close relatives. You can also choose to bequeath your property to charities and friends.

2. Decide the Care of Your Minor Children

The will allows you to decide how your minor children will be cared for if you die. Failure to make this decision through a will allows the court to appoint a guardian for your children.
While the guardian may do their best, only you can make the best plans for your children. Hence, a will ensures that your children don't end up in the wrong hands.

3. Facilitate Probate

Probate is the process of verifying the validity of a will, usually through a court-supervised proceeding. The probate process's duration and cost depend on your assets' value and size. You can minimize the duration of the process by drafting a will. The presence of a will prevents disgruntled beneficiaries from unnecessarily contesting the distribution of your property.

4. Allows You to Select Your Executor

The executor ensures that your wishes happen as you intend. When you draft a will, you have the power to decide who the executor will be. Hence, you can choose somebody you trust and who understands your wishes. Without a will, the court will appoint a person who may not understand your wishes completely.

5. Eliminate Legal Wrangles

When you create a will, you prevent your heirs and beneficiaries from engaging in protracted legal battles. These legal cases can go on for several years and result in high legal fees that can reduce your beneficiaries' eventual inheritance.

6. Ensure Financial Security

Some of your family members may be living with disabilities and other special needs. These relatives may not have the mental or physical capacity to fight for their inheritance. Moreover, these individuals need robust financial aid to complete their daily activities and live happy life. When you make a will, you guarantee financial help for family members with special needs.

7. Protect Your Unmarried Partner

If you and your partner are not legally married, the partner may be left out of your property distribution. This scenario may happen regardless of how long you have been in a relationship. When you write a will, you guarantee your partner that they will also benefit from your estate. For example, you can leave your current home to your unmarried partner or step-children when you die.

8. Reduce Inheritance Tax

Inheritance tax varies from state to state and depends on the value of your estate. You can structure your will in such a way that you reduce the inheritance tax. An experienced estate planning lawyer can help you with this endeavor.

Benefit from Proper Estate Planning

A will is one of the most important documents in estate planning. The will helps you to distribute your assets and prevents problems when you die.
Donald B. Linsky & Associate PA can help you to create a will that meets your wishes and interests. Contact us to learn how we can help you.

Where To Keep Your Will — 5 Storage Options

websites@hibu.com (Hibu Websites) — Wed, 21 Sep 2022 22:48:00 GMT

A will is a crucial document. It clarifies many things, like who will inherit your property. Sometimes, the will's contents never come to light because heirs and attorneys can't locate the document. Hence, proper storage of a will is vital.
So, what are the best places to store a will? Read on to find out.

1. With Your Lawyer

You can ask the attorney who drafted the will to keep it safe. The attorney may agree to store the document for free. If you decide to keep the will with a lawyer other than the one who drafted it, you may have to pay a fee.
Many attorneys have safes for storing key documents. In some states, rules exist on how attorneys must keep clients' records. Your family members and other interested parties should know that the attorney has your will.
You may also leave a copy of the will with your attorney and store the original elsewhere. The copy may be essential if the original disappears.

2. In Your House

You can also opt to keep your will in a secure place in your home. That place should be fire-resistant and able to keep water away. Moreover, the storage place should be structurally sound to prevent thieves and other people from accessing your will. For instance, you can store the will in a safe deposit box that attaches to your house's walls.
You can easily access and revise a will stored in your home. Also, your heirs can easily locate the will after you pass away. However, you must let them know your will's location in advance.
Storing a will in a home may not work for everyone. For example, storms, floods, and hurricanes can destroy your will. Also, your heirs may read your will before death and react negatively.

3. With a Probate Court

You may decide to give your will to a probate court. The probate court will safely store your will and produce the document upon your death. This option is perhaps the most effective, although it's only available in a few states.
Probate court filings are available to the public in some states. Hence, a probate court may not be ideal for people who want to keep their will's contents secret. Fortunately, most states only make the will public after death.
You can choose to amend the will after depositing it in a probate court. The court will still store the previous versions, and your heirs will later have access to all versions of the will. Remember to let your executor know that your will is with the probate court.

4. With the County Clerk

You may have the option of giving your will to a county clerk for safekeeping. The clerk will probably charge some fee to store the original copy of your will. This storage option may not seem ideal, but your beneficiaries and the executor may first start to search for your will at the county office.
Matters may get complicated if you move from your current county. You will have to spend time and money to travel back and amend your will. Moreover, your heirs will have difficulties locating the will.

5. On an Online Document Storage

The latest trend is to store the will on an online storage platform. This storage option protects your will from fire, weather elements, and theft. Some online storage solutions can even notify your beneficiaries about the location of the will.
A will can prevent disagreements after your death and ensure your wishes come to fruition. The process can be even more smooth if you work with Donald B. Linsky & Associate PA. We can help you to draft a will and advise you on the best ways to store it. Contact us for excellent legal services.

Benefits of a Trust

websites@hibu.com (Hibu Websites) — Mon, 15 Aug 2022 18:31:00 GMT

A trust is an important estate planning tool that property owners should not ignore. A trust creates a legally binding relationship between a grantor and a trustee. If you are the grantor, a trust allows you to give the trustee a legal right to possess and manage your assets.
The first thing to do before you write a trust is to choose beneficiaries and a trustee. Beneficiaries are the people who will inherit your assets after you die. The other requirement is to determine the assets you want to include in the trust.
People add trusts to their estate plans for different reasons.

A Trust Offers Protection

Incapacitation and other unlikely events like sickness can limit your ability to manage your assets. A trust guarantees protection if you find yourself in such situations. The successor trustee will handle the assets on your behalf and give you peace of mind.
A trust can also protect your small kids. Trusts safeguard the assets until the children are old enough to inherit them. A trust can also protect the money you get from your assets for your kids' long-term use.

A Trust Saves Money

Trusts reduce the amount of estate taxes that married couples pay. A reduction in your estate taxes can relieve you of some financial burden.
Court probate is a costly process. Examples of probate costs include executor fees, lawyer's fees, and accountant's fees. A trust will help you avoid such expenses.
An irrevocable trust allows you to transfer your estate assets to the trustee. The transfer of your properties out of your estate comes with tax benefits.

A Trust Promotes Convenience

Proper asset management is a challenge to many older adults. Trusts relieve older adults from the burden that comes with their asset management. Probate comes with many challenges, which can inconvenience your asset management. Examples are:

Failure of the will executor to perform their role
Will validity issues
Disputes between beneficiaries

A trust will help you avoid all possible challenges of probate. Court probate avoidance ensures easier asset management.
Asset division can become a challenge, especially after divorce. A trust can help simplify the division of assets and properties in the event of divorce.

A Trust Promotes Privacy

Probate can make the public know who has the trust of your assets. The fact that a trust avoids probate makes it a confidential document. Therefore, a trust can protect your other confidential information like asset value and listing.
Asset privacy reduces the risks of unnecessary lawsuits. For instance, creditors may not sue you as quickly because they don't know the value of your assets. Only the estate attorney and the successor trustee should have information about your asset trust. Therefore, choose a trustworthy and reliable lawyer and trustee.

A Trust Is Flexible

Trusts promote flexibility in asset distribution. As the grantor, you determine how you want your loved ones (beneficiaries) to get your assets. You can also decide who should benefit from your assets and who should not.
A revocable trust provides room for changes or cancellations. So, revocable trusts are more flexible than irrevocable trusts.
One way to improve the flexibility of a trust is to choose a good successor trustee. The right trustee will not sabotage your wishes.

A Trust Prevents Family Conflicts

Estate battles are common among many beneficiaries. Trusts ensure a fair asset distribution, which eliminates possible conflicts.
As a grantor, you should customize your estate trust. A customized trust is clear on who should inherit particular assets. Therefore, a customized trust will prevent confusion about your wishes as the estate owner.
The other way to prevent possible feuds is to be fair. The trust should treat your loved ones equally.
A good estate planning attorney can help you quickly create and document a trust. Donald B. Linsky & Associates PA is a reputable and experienced planning attorney that can help you draft a trust. Contact us today.

Distinguishing Estate Planning Myths From Facts

websites@hibu.com (Hibu Websites) — Sat, 16 Jul 2022 00:04:00 GMT

Estate planning has many benefits, including protecting your assets, avoiding probate, minimizing taxes, and planning for incapacity. Yet, so many people avoid estate planning. Why? Many myths about estate planning make people think they don't need to bother with the venture.
Don't fall for these common estate planning myths — get the facts as discussed below.

Estate Planning Is Only for the Rich

Some individuals think that estate planning is only for people with a lot of money and assets. But that's far from reality. Estate planning is suitable for anyone who owns anything — regardless of the value. Otherwise, the state will make decisions for you through intestate succession laws. Here are some motivations to help you plan your estate regardless of how much wealth you own.

Protect Your Young Ones’ Interests

When you have minor children, you need to name a guardian for your children in the event of your untimely death. Without a will or trust in place, the court will decide who takes care of your children — and that person might not be who you would choose.
Estate planning can also help you ensure that your children are taken care of financially. For example, you can set up a trust to provide for their needs and name a trustee to manage the assets until adulthood.

Care for Your Loved Ones With Special Needs

Without proper planning, your heirs with special needs could lose government benefits like Medicaid and Supplemental Security Income (SSI). Estate planning can help you protect those benefits.

Avoid Probate

Probate is the legal process of distributing your assets after you die. It can be expensive, time-consuming, and stressful for your loved ones. Estate planning can help you avoid probate.

Estate Planning Is for the Old

Most people assume that they must wait until they get older to think about estate planning. However, estate planning is for anyone who owns anything. You may not think you need an estate plan if you are young and just starting your life. But if you own a home, have a retirement account, or have any other assets, you need an estate plan.
You never know when something could happen to you. If you were to die or become incapacitated, your loved ones would need to know your wishes. Estate planning can help your loved ones fulfill your desires.

Estate Planning Is Unnecessary If You Have a Spouse

If you are married, you may think that your spouse will automatically inherit your assets. But that's not always the case. For example, in some states, if you die without a will, your assets may be distributed according to intestate succession laws, which may not always be fair.
Estate planning can help you ensure your assets are distributed according to your wishes. You can also use estate planning to protect your spouse from creditors and provide for their needs if you become incapacitated.

Estate Planning Is Only About Death

You may think that your estate plan only matters when you die. But estate planning is not just about death. Estate planning can also help you plan for incapacity. If you become incapacitated, your loved ones will need to make decisions for you — unless you have an estate plan.
An estate plan can help you determine who will make financial and medical decisions for you if you cannot do so. The plan can also help you plan for your care and provide for your loved ones financially if you become incapacitated.
Estate planning is essential for everyone — regardless of age, wealth, or marital status. You should start as early as now. We are your go-to estate planning lawyers, and you can trust us to guide you through estate planning. So contact us at Donald B. Linsky & Associates PAto get started.

Grounds for Contesting a Trust

websites@hibu.com (Hibu Websites) — Thu, 16 Jun 2022 18:04:00 GMT

Trust contests are lawsuits filed to contest a trust set up by a recently deceased person. Anyone with legal standing can be a plaintiff in a trust suit.
You may contest a trust or will, but generally, it's a challenging endeavor. The court will often default to the wishes of the deceased. Nevertheless, the court may void a trust if you prove that the document provisions meet the acceptable grounds.
The court allows the following grounds for contesting a trust.

Fraud

Fraud is wrongful or criminal deception to achieve financial or personal gain. Trust fraud becomes a crime if a known misrepresentation of the truth is used to induce a testator to act.
For a court to invalidate a trust, evidence should prove that the testator was intentionally tricked or coerced into execution.
Fraud typically falls into two categories:

Fraud in the inducement occurs when a trust beneficiary misleads the testator and ultimately benefits from the act. For instance, a child who makes a false representation of other siblings to receive a larger inheritance share.
Fraud in the execution occurs when one party deceives another into signing misrepresented terms or a falsified contract. For instance, they may conceal the true nature of the document to a testator with poor eyesight or poor literacy.

Fraud is more probable as grounds for contestation with strong evidence rather than just rumors and speculation.

Forgery

Forgery refers to making changes to a written document with the intent to defraud. Forging testamentary documents is not new and is acceptable legal grounds for challenging a trust.
If you suspect that someone has tampered with an estate-planning document, the court can investigate further. The investigation involves a conclusive report developed by a handwriting expert. You have to accompany the report with some supporting evidence for the court to invalidate the trust.
Trust forgery typically occurs on the signature of the deceased. But some red flags that could suggest a forgery include:

A trust that benefits one person with the exclusion of others.
A trust with missing/modified pages.
A trust without legal terminology.

The standard proof required to invalidate an allegedly forged trust is on the balance of probabilities. Whoever proves their case by 50.1% wins.

Lack of Mental Capacity

Due to old age, elders suffer from mental issues such as dementia and hallucinations. Without testamentary capacity, a testator is more susceptible to undue influence. For this reason, it's common for family members to bring into question the testator's mental capacity at the time of execution.
To create a legally enforceable trust, the testator must have the mental capacity to understand:

The nature of the trust document.
The approximate valuation of the estate property owned by the testator.
The relationship between the testator and the beneficiaries.

Proving a lack of capacity can be challenging, and your word of mouth alone will not suffice in court. A judge may call upon family members, a psychiatrist, and the settlor for more information on the condition of the deceased at the time of execution.

Lack of Due Execution

Lack of due execution means the testator failed to observe the legal formalities for signing a trust. If you have substantial grounds to suspect that a trust did not follow the due process in execution, seek legal advice.
For a revocable trust to be valid in Florida, some required formalities include:

The trust must be in writing.
The testator must sign at the end.
At least two witnesses should sign and be in the testator's presence.

If a trust does not comply with any of the formalities, the court may not consider it valid.
A testamentary document may be difficult to contest if you disagree with the division of the trust assets between beneficiaries or simply because you believe you should have been in the trust but weren't. Therefore, if you want to contest a trust, you should first speak to a lawyer that specializes in estate planning about your concerns. Your lawyer will be able to tell you whether you can contest the trust and the best way forward.
Contact us at Donald B. Linsky & Associate PA today if you need to contest an existing trust.

2 Tips for Estate Planning With Alzheimer's

websites@hibu.com (Hibu Websites) — Thu, 12 May 2022 17:04:00 GMT

Among the side effects of old age is memory loss. Sometimes it's inevitable, which makes it hard for you to fulfill your duties as you would before. Estate planning is one of the more complicated processes with Alzheimer's disease, but things get more manageable if you start early and involve the right professionals.
If you have Alzheimer's disease, you must take proactive measures to protect your financial future. Failure to plan now may cause adverse consequences, which include:

Your beneficiaries may challenge the validity of your will and trust
Your assets may end up in the wrong hands
You may have to deal with lengthy and bitter court battles over control of your assets
You may mistakenly leave some of your heirs out of your will

Don't be among those who wish they had taken action earlier when it's already too late. While you may feel overwhelmed after being diagnosed with Alzheimer's, read on for some estate planning tips to make things easier.

1. Plan Early

It's critical to start your Alzheimer's planning immediately when you notice the first sign of memory loss. Gather all the necessary documents and consult a reliable estate planning attorney for help on the way forward. Some must-have documents during your consultation are:

Wills
Powers of attorney
Trusts
Healthcare directives

Also, carry any document linked to your financial assets. Your lawyer should evaluate your financial situation and advise you on how to save your money and protect assets down the road.
Afterward, gather all the involved shareholders, including your spouse, offspring, and close friends or relatives. This step helps to avoid drama and quarrels in the long run. In addition, it unifies your heirs as you move on with estate planning.
Other than your attorney, consult medical and mental health experts. The experts will determine your competency — if you are in sound mind to sign estate planning documents.

2. Create Healthcare Directive and a Living Will

Again, as soon as you notice the first signs of Alzheimer's, you should draft a health care directive, also known as a health care power of attorney. This document authorizes a trustworthy person (known as an agent) to take over your medical decisions when you cannot do it yourself.
The health care directive should include an explicit declaration that you want to give a specific individual the power to make your health care decisions. It should also present evidence of the document's legal capacity through your signature to show that you have written the document willingly and knowingly.
Your healthcare agent should be someone you fully trust and who genuinely cares for you. Make sure to sign the health care directive as soon as possible before your condition deteriorates. This move prevents you from signing the document illegally.
Besides the healthcare directive, it is recommendable that you create a living will. The document is similar to the health care power of attorney as it outlines your wishes about your end-of-life treatment. It states your intent if you become terminally ill or go into a coma. For instance, you can indicate that you don't want to stay in a life support machine or state that you wish the doctors to keep you alive as long as possible.
Seek the counsel of an estate planning attorney to help you make sound decisions as you draft a living will and healthcare power of attorney. The expert has your best interests at heart and will ensure your choices are not biased.
Donald B Linsky & Associates PA is your go-to legal consultant for your estate planning needs. You can trust us to help you secure your loved one's financial future. So contact us today, and let's get started with your plan.

A Guide to the Different Types of Trusts

websites@hibu.com (Hibu Websites) — Fri, 06 May 2022 17:37:00 GMT

A trust is a fiduciary relationship where one party, a trustor or grantor, gives rights to another party, the trustee, to hold and manage assets on behalf of beneficiaries. The trustee ensures the assets are managed according to the grantor's wishes and in the best interests of the beneficiaries. Trusts take effect after you transfer assets to them and can be active during your lifetime and after you pass on.
Are you wondering why you should include a trust in your estate plan? With a trust, you avoid the probate process, protect assets from creditors, reduce family conflicts, preserve family wealth, protect beneficiaries, and provide for individuals with special needs. Also, a trust maintains your privacy and confidentiality and can help if you become incapacitated.
A trust can help protect your family, loved ones, and legacy after you're gone. However, to achieve the intended goals and enjoy all the benefits, you need to create the right trust to match your needs and situation. To get started, read on to learn about the common types of trusts.

Revocable Trust

A revocable trust, also known as a revocable living trust, is a type of trust where the grantor has the right to revise, alter, revoke, or terminate the trust on their own accord. A revocable trust is flexible since the transferred assets and specified guidelines aren't permanent. However, the revocable trust will become irrevocable upon the grantor's death.
If you opt for a revocable trust, you can name yourself as a trustee or co-trustee and pick someone else as a successor trustee when you pass on or if you're unable to manage the trust. A revocable trust is beneficial to avoid the probate process.

Irrevocable Trust

An irrevocable trust can't be amended, changed, or revoked after it is created. After the transfer of assets to an irrevocable trust, the grantor renounces ownership and management of these assets. The assets are no longer a part of their personal estate, and they can no longer take them back.
While irrevocable trusts are inflexible and might look unattractive, they are ideal in certain situations. For instance, these types of trusts are ideal for individuals with large estates who want to reduce tax liability. Also, irrevocable trusts will protect your assets from creditors and lawsuits.

Special Needs Trust

If you have a dependent with special needs, you may establish a special needs trust to provide for them when you're not there. Also, this trust ensures your special needs beneficiary doesn't become ineligible for government benefits.
Under normal circumstances, an individual receiving government benefits may become ineligible if they receive an inheritance or a gift receipt. The special needs trust will provide the dependent with income without disqualifying them for supplemental government aid.

Charitable Trust

A charitable trust is set up to benefit a charitable organization or the public. These trusts are irrevocable and enjoy a certain degree of tax benefits. For instance, a charitable trust is liable for lower or no estate and gift tax even if generating income.
Apart from tax benefits, a charitable trust can generate income, preserve highly appreciated items, and give you control. However, these benefits will vary depending on the type of charitable trust you create. Make sure to consult your estate-planning attorney for guidance.
Establishing a trust can help protect your legacy and assets and ensure the assets get to your dependents according to your wishes. However, to ensure you create the right trust and a valid one, seek advice from an estate-planning attorney. Contact legal experts at Donald B. Linsky & Associates PA for tax planning, estate planning, real estate, elder law, and business legal needs.

Tips to Embrace For a Successful Estate Planning

websites@hibu.com (Hibu Websites) — Wed, 23 Mar 2022 15:50:00 GMT

Whether you're wealthy or not, estate planning serves as a safety net for preserving the value of your assets. It also reduces the wait time for asset disbursement and helps you leave behind the mark of the family legacy you always envision. Nonetheless, because of the legal changes in today's world, it can be challenging for your family and relatives without leaving behind an estate plan that clearly explains the distribution of such assets.
Therefore, to avoid conflicts and confusion, here are the most effective tips that'd effortlessly make your estate planning a success.

Educating Your Beneficiaries and Creating a Team of Trustees

One of the primary reasons most estate plans fail is that beneficiaries are misinformed and misguided. With the proper knowledge about how the process entails, your beneficiaries won't have problems sharing everything legally and peacefully. For instance, if heirs are young, the odds of wasting the wealth in fighting for large shares are high. Many will end up in bad investments and scams that ruin everything left for them.
Luckily, creating a team of experienced estate professionals like financial advisors, tax experts, and estate planning attorneys makes the process effortless. They will always help your kids, and other beneficiaries complete the sharing without conflicts.
All the same, such a team will help you create the correct estimates for every beneficiary that helps ensure there won't be cases of fights in the future. Ultimately, the goal for working with a team of professionals is to provide the distribution of your assets that don't ruin the wealth you leave.
Moreover, to increase the odds of a peaceful sharing of your properties among kids and others, educate them about wealth usage and management. Educate them that sudden wealth can lead to confusion that easily ruins it. Also, inform and guide them on investing anything given to them regardless of the amount. This way, none of them will see their share little as long as they believe that they'll quickly grow and generate more wealth once they invest in it wisely.

Documenting Your Wishes and Creating a Clear Succession Plan

If you're a businessperson dealing with a wealth management business or in the real estate niche, you're probably aware of the type of wealth you handle. Unfortunately, most people in these niches leave behind wealth and assets that lead to conflicts among kids and beneficiaries due to the lack of a well-curated succession plan. Create a succession plan that highlights who you want to run your business and who owns it.
Be sure to make it clear that if no one among your beneficiaries is willing to run or own the business and embrace its objectives, the legal professionals in your team are free to sell the business. On the other hand, document your wishes to easily indicate everyone's allocation of responsibilities and assets. For example, ensure your document planning consists of essential considerations such as the healthcare power of attorney and the durable financial power of attorney.
With these two components, the healthcare attorney or proxy will assign these powers to whoever you name in making health decisions for the family, especially when kids are involved. On the other hand, the durable financial powers of attorney allow the legal system to pass financial capabilities and decisions to the person you name in your plan.

Working Closely With Experienced Estate Planning Attorneys

Even after creating a team of trustees, working with an experienced estate planning attorney increases the success of your estate plan. The reason is that these attorneys have the legal expertise and experience in handling various estate planning cases.
Therefore, you'll easily find the proper guidance when working with such attorneys. Because of this, at Donald B. Linsky & Associate PA, our attorneys have the right expertise to get you're a prompt solution. Contact us today for a quick estate planning experience you'll probably enjoy.

Codicils: When to Use These Keys to Simple Will Updates

websites@hibu.com (Hibu Websites) — Wed, 02 Mar 2022 21:59:00 GMT

Doing estate planning for the first time is one of the biggest legal hurdles that many people face. But once you have completed your will and other estate documents, what happens if you need to change something? One tool that can help is a codicil. What is a codicil? When and how should you use it? Discover some answers to these important questions.

What Is a Codicil?

In estate planning, a codicil is an additional memo or notation attached to an existing will. It makes changes to a specific section or sections of the will while allowing the will to remain the same in all other aspects.
Codicils are most commonly used to change individual beneficiary designations (such as due to a marriage or divorce), to name a new executor or backup executor, or to address a new asset's disposition.

When Is a Codicil Used?

A codicil should be used when the necessary change affects a small portion of the existing will. It usually involves only one change, such as the removal of an asset you sold, that can easily be taken care of with a single move and brief instructions.
Because rewriting a will requires time and effort, allowing a codicil encourages estate planners to make needed small-scale changes that keep the document up to date without going to too much trouble. You can even add more than one codicil — together or over a period of years — to a will.

When Should You Not Use a Codicil?

As easy as it is, a codicil is not a tool that you should always use.
Ask yourself how much the changes will affect the estate or will. Does the codicil involve several sections, many beneficiaries, or significant changes to how a large asset will be administrated? As its impact to the will goes up, the time-saving value of a codicil goes down. There is a point at which the codicil could actually confuse things more than help.
In addition, if you already have one or more codicils for a will, consider carefully instead whether you should rewrite the document entirely. As with large-scale changes, too many changes or successive addendums can cause confusion and make it hard to interpret and follow your wishes. This could even lead to contested wills or conflict among heirs.

How Do You Make a Codicil Valid?

So, how do you actually make a codicil? One thing you should not do is make hand-written changes or annotations within the existing will documents. These can invalidate the will itself.
Instead, the codicil is a separate document similar to the main will's terminology and process and maintained with the will. It must follow your state's rules, such as the need to be notarized or signed in the presence of witnesses, to be valid. It should then include details like the date, your identifying information, a notation about which will it is attached to, the and specifics of the change.

Where Can You Learn More?

Does your will need a codicil? Could the use of a codicil make it easier to ensure your estate planning is up-to-date? If so, start by learning more about codicils and the requirements in your state. As with any estate planning step, legal advice is the best way to be certain you make the right moves to protect your estate.
Donald B. Linsky & Associate PA can help. We will work with you to analyze the types of changes necessary to update your documents, the best way to approach them, and the way to ensure your will remains a legally enforceable document no matter what. Call today to make an appointment.

Crucial Considerations You Should Make When Drafting a Will

websites@hibu.com (Hibu Websites) — Wed, 02 Mar 2022 21:53:00 GMT

Have you written your will yet? Your family will most likely distribute your property with bias if you die without a will. Writing a will secures your property for your loved ones and avoids any misunderstandings. A good estate planner will help you write and execute your will according to your wishes. Take the necessary steps so that you can have confidence that your loved ones will enjoy a comfortable future. Here are some vital considerations when drafting your will.

Your Children

Protecting your children's future should be your priority, especially if they are still minors. Of course, you can also choose to include your second or third generation in your will. But you must make sure to consider a worthy guardian.
A guardian will manage the estate until the children are of age. Inform the guardian about the responsibilities you will give them and what you expect from them. Remember, the executors might need to care for the beneficiaries. Therefore, be wary of who you choose.

Your Property

Taking account of your property will give you direction on distributing it. You will need to have proper documentation of each item for confirmation before handing over the ownership. Don't include any jointly owned property as you can't pass on such property to your beneficiaries.
Most people choose to disclose the will once they write it. If you do not disclose it, ensure you affirm its legitimacy by writing the will in the presence of a witness or a lawyer who will execute it.

Your Executor or Estate Planner

Choosing an estate planner is crucial to the execution of your will. A credible estate planner can give you a sense of calm, but choosing a trustworthy individual can be a daunting task.
Most people prefer giving this task to a lawyer who can maneuver through the financial and legal requirements in writing and executing the will. Others prefer a close relative or friend whom they can trust.

Your Distribution of Sentimental items

Most people are overprotective and cagey when dealing with sentimental items. Clear instructions on the cherished possessions will give them the care they require once you are gone. You should brief the executor and recipient on how you expect them to care for the items. Such items can include artwork, personalized gifts, and things that remind you of specific moments.

Your Beneficiaries

If you have been paying various insurance premiums, ensure you stipulate if there will be any changes in the next of kin. Also, keep updating your beneficiary details in the will and with the insurers to avoid confusion and misunderstandings when claiming them.

Your Legacy

Many people wish to immortalize their legacy. You can do this by keeping a record of your digital legacy. With the improving technology, you can decide how you want to be remembered when you are gone.
Another thing will be taking care of the social media accounts or personal websites. Some sites have set provisions on how they handle a deceased's account. Fortunately, you can select your preferences long before you pass. If you are not comfortable setting your preferences, you can have the executor carry out specific instructions as per your will.

Your Donations and Charity

If you want to leave your property to charity, ensure you include such wishes in your will. State the specific organizations or individuals that will benefit from the property. Stipulate if you will wholly or partially donate the property and what will happen to the remaining property.
An exhaustive will can save your loved ones many physical and emotional disputes. As you age, you need to quantify your assets and ascertain how you wish to distribute them. A good plan will ease the pain and struggles your loved ones may go through once you are gone. Contact an estate planner at Donald B. Linsky & Associate PA to find out more about wills and testaments.

7 Lists To Bring to Your Estate Planning Session

websites@hibu.com (Hibu Websites) — Fri, 18 Feb 2022 22:26:00 GMT

Estate planning is one of the most important legal steps any American can take to protect themselves and their family. As you begin the process of making your plans, much of the work will be done by your attorney. However, before you meet with them, make sure you gather these seven lists of information that will make the process smooth and successful.

1. A List of Beneficiaries

When they arrive at the estate planner's office, most people have an idea to whom they want to leave their assets. However, do you have the necessary identity details of all your beneficiaries and heirs? This includes their full legal names, nicknames, Social Security numbers, and current addresses. Don't overlook backup heirs as well. Bring the same information about contingent beneficiaries.

2. A List of Financial Assets

Your financial assets are those intangible assets that represent the cash and cash-like items in your estate. The most common financial assets include checking and savings accounts, retirement accounts, and investment or brokerage accounts. Be sure to include any life insurance policies as well, no matter how small. The good news is that getting the details for these accounts is usually just a matter of printing out statements. Don't worry too much about the date as long as it's recent. The bad news is that old accounts easily get forgotten, so be diligent to ensure nothing is left behind.

3. A List of Other Large Assets

Next, write down your large hard assets. For most Americans, this is their home and vehicles. Large physical assets like these usually have a deed or title that clearly identifies them. Locating these also gives you the chance to make sure that the title or deed is accurate and legal before your heirs need to use it. If no title or deed is available, include any identifying information such as make and model, location, description, and serial numbers.

4. A List of Personal Property

Gathering the needed information about personal property - smaller assets scattered throughout your property - can be challenging for several reasons. First, it's difficult to determine what you own and where it all is. Second, you may not know which items to include and where to draw the line. Finally, figuring an accurate value is usually more challenging than other asset groups. When listing personal property, don't try to cover everything. Your attorney will make arrangements for unnamed items within the will's wording. Focus, instead, on items of more financial value or those which you specifically want to leave to a person or organization. Describe them in detail, and take photos for identification. Value these using market rates rather than what you paid.

5. A List of Animals

Don't forget about your furry friends. List your pets by name and include descriptions if you own multiple pets. For livestock or farm animals, you may need to use identification numbers or other markers to specify certain animals that you want to go to different heirs or which should be managed separately from the farm, flock, or herd.

6. A List of Debts

Unfortunately, estate planning isn't just about your assets. Your estate must also deal with legal obligations that remain when you pass. Bring statements showing the current status of loans, credit cards, mortgages, and personal debts as well as creditors' addresses and account numbers.

7. A List of Questions

Finally, write down your questions. Estate planning is new to most people, so it's natural to have many questions both general and specific. And the best way to get the answers you need is to ensure you don't forget any subjects by writing them down in advance. Remember, this is your estate plan and so you should understand it as fully as possible.

Where To Start

Want to know more about preparing for your estate planning session? Start by making an appointment with Donald B Linsky & Associate PA today. We will put our 40+ years of legal experience in Florida to work for you no matter what your estate's makeup or needs.

: Factors That Determine Necessity of Landlord Notification for Building Alterations

websites@hibu.com (Hibu Websites) — Thu, 02 Dec 2021 15:10:00 GMT

Many commercial property leases contain alteration clauses. The alteration clauses specify which alterations the tenant can make and whether they need to notify the landlord first. Many landlords allow their tenants to make minor alterations without notification but require notice for the major alterations.
Below are some of the factors that separate minor and major alterations.
Impact on Other Tenants A minor alteration does not affect other tenants on the property. For example, other tenants might not care when you subdivide your office into smaller partitions. However, alterations that might affect other tenants require the landlord's input. For example, consult the landlord before installing a standby generator that might pollute the environment with noise or exhaust fumes.
Permit Necessity Many building permits involve the property's owner. For example, a property owner may need a permit to extend your restaurant's outdoor seating area. In such a case, you definitely have to involve the landlord before you can make the alterations. Moreover, the government typically requires permits only for major alterations.
Effect on Structural Integrity Inform the landlord before you make any changes that might affect the building's structural integrity or major systems. For example, you should not change the roof, repair the foundation, or upgrade the plumbing system before contacting the owner. Structural changes tend to be major and can have long-term effects on the building.
Effect on Safety Anything that involves safety issues should involve the landlord. After all, the landlord might face liability claims if someone is injured, say another tenant or a visitor to the property. For example, you should consult the landlord before you renovate the electrical system. Electrical modifications are dangerous since a mistake can trigger an electrical fire.
Effect on Property Value Most landlords also want you to notify them before you make modifications that affect their property's value. Alterations that reduce the property's value can affect many things for the property:

Appeal to potential buyers or tenants
Rental price
Purchase price

For example, you might affect a building's value after replacing the windows or doors, reducing a parking lot's size, or replacing a skylight. Thus, such modifications require the landlord's involvement.
Ease of Undoing Some alterations are easy to undo, while others require significant resource investments to undo. For example, you can easily restore the color of a wall - all you need is paint and the painter's service fee. Many landlords will allow you to make such cosmetic changes without informing them.
Effect on External Design When you rent part of a property, you are likely to have a bigger say in its internal features than the external features. After all, the external features affect other tenants, visitors, and even the community's views on the property.
For example, many landlords won't care about minor alterations inside your office. You can put up temporary partitions or change the carpet without issue. However, most landlords care what you do outside your office. For example, a new pavement or fence requires the landlord's input.
Effect on Utilities You should always inform the landlord about any alteration that can affect their property's utilities. That is, you should inform the landlord if you want to do something that can affect plumbing, electricity, or gas.
Consider a case where you want to connect an underground fiber optic cable to your office, and you need an excavation that might affect the underground utility supply. Your landlord will definitely want to know about the alterations before you commence them.
Hopefully, you won't have any alteration disputes with your landlord. Contact Donald B. Linsky & Associate PA if you ever get into such a dispute. We will help you protect your business and legal rights on the lease.

Using Business Succession Planning to Protect Your Business

websites@hibu.com (Hibu Websites) — Tue, 26 Oct 2021 19:28:00 GMT

Most people know that they should include their businesses in their estate plans. However, some do not know that business succession planning is also necessary. Succession planning is even more crucial if you want to protect your business. Otherwise, your business's value might plummet after your demise or incapacitation.
Below are some of the measures you can take to plan for your demise or incapacitation.
Sell the Business Outright One option is to sell the business. You can sell the business to:

The company's employees
Your beneficiaries
Other third parties

Your beneficiaries can then divide the proceeds of the sale according to your estate plan.
If none of your beneficiaries wants to take over the business operations, you can sell the business. This option also makes sense if you don't have faith in your beneficiaries' ability to manage the business.
The sale of the business can take multiple forms. For example, you can sell the business in its entirety, or you can dissolve the business and liquidate its assets.
Separate Ownership and Management You can also separate the business's ownership and its management. The separation may help protect the business from beneficiaries who cannot manage it. Maybe the beneficiary cannot manage the business because:

They are still a minor
They are mentally incapacitated
They don't have the necessary management skills and experience
They don't want to run the business
They are busy with other things

This option also allows multiple beneficiaries to benefit from the business without running it, especially if the beneficiaries have opposing ideas on how to run the company. For example, you can give the beneficiaries nonvoting stock and let another person be in charge.
Prepare the Beneficiaries To protect the business, you must prepare the beneficiaries. The intended recipients of the business, especially if you wish them to own or manage the business, should not learn about it from the executor. Therefore, you should:

Let the beneficiaries know of your intentions to bequeath them the business
Inform the beneficiaries of your vision for the business
Train the beneficiaries on how to manage the business
Incorporate the beneficiaries in the business management to help them learn the ropes

If you don't prepare or create a plan for your succession, your key employees, such as the managers, might leave the business abruptly when you leave. Such an overnight change of guard might harm your business. Therefore, your key employees or managers should also be part of the preparation.
Minimize Estate Tax Estate taxes can harm your business in multiple ways. For example, beneficiaries with liquidity problems can struggle to pay estate taxes if you leave them the business. Take measures to minimize estate taxes whichever direction you wish the business to take in case of your demise or incapacitation.
To minimize taxes:

Provide your beneficiaries with the money, say in the form of life insurance, to pay the estate tax
Give your beneficiaries the business in the form of systematic gifts or stock sales over a period of time

Work with financial experts to minimize taxes without breaking the law.
Create a Trust Create a trust to protect the business from your beneficiaries and still enjoy the proceeds of the business. You can use a grantor retained annuity trust (GRAT) for this purpose. That way, the beneficiaries only gain complete control of the business at the end of the trust's term.
Donald B. Linsky & Associate PA can help you plan your estate and ensure it includes all your assets. We have been in the industry for decades. We will guide you using estate planning laws to ensure your plans are enforceable. Contact us today to start your estate planning process.

Protect Yourself by Including Backup Plans in Your Estate Plan

websites@hibu.com (Hibu Websites) — Tue, 21 Sep 2021 16:33:00 GMT

Estate planning is all about preparing for an uncertain future. But if you haven't included backup plans within your estate plan, you may not be fully prepared. Why?
Estate planning is best done long before there is a need to enact your arrangements. But this means that anything could happen between when you draft a document and when it needs to be used. Changes in your financial situation, changes in relationships, changes among your family or friends, and changes in your health can make some or all of your estate plan of little use when a need arises.
To avoid such an outcome, what sorts of backup plans should you include? Here are a few of the most common and most important.
Alternate Executor First and foremost, you should name at least one backup executor who can take over if your primary executor can't do the job. The position of executor can be a challenging one. It can take significant amounts of time and legwork, and the process can take months or even years. When it's time, what if your executor can't take on these responsibilities? What if their mental or physical health prevents them?
A backup (alternate) executor or two is important to ensure that your estate plan is handled the way you want no matter what. If you fail to name someone, your estate will be delayed as the probate court determines who it will appoint instead. And that person may not be who you wish.
Distributions Upon Predeceasing When you make an estate plan, the assumption is that you will pass away before all the named heirs in your will or trust documents. However, occasionally, this is not the case. For instance, an adult child may pass away before you due to an illness or an accident. If you then pass away before updating your estate plan, the portion of that child's inheritance has no clear recipient in lieu of them.
The good news is that you don't have to run out and alter your will if something tragic happens to an heir. Instead, you can stipulate what happens to each heir's inheritance in this event. You might assign it to their own children or grandchildren, redistribute it among remaining heirs, or assign it to a third party, for instance. Contingent Beneficiaries Beneficiary designations allow you to specify who gets the funds in an account if you pass away. However, as with heirs in your will, it's good to consider what you want to happen with that money if a named beneficiary predeceases you. Many people forget who they named as beneficiaries on different accounts and may forget to change them if something happens. So it's vital to name contingent beneficiaries whenever possible.
Powers of Attorney A power of attorney is your authorization for a named person to make certain decisions if you become incapacitated. You can name a power of attorney for one single area of decision-making, such as medical decisions, or for a multitude of decisions. You can also name a power of attorney only for a limited time, like during an illness, or for an unlimited time. Powers of attorney are your personal backup plan.
Does your estate plan need more backup plans within it? If you're not sure what will happen if anything changes in your life or your heirs' lives, then it probably does. Start by learning more about contingencies, powers of attorneys, and alternates by meeting with an experienced estate planning attorney in your state today.
Florida residents can call on the team at Donald B. Linsky & Associate PA . We will assess your estate plans and your goals to help you craft a plan that carries out your wishes no matter what life brings.

Powers of Attorney: Exploring Their Meanings

websites@hibu.com (Hibu Websites) — Fri, 27 Aug 2021 12:55:00 GMT

A power of attorney is a legal agreement that allows a legal agent to make certain decisions on your behalf. The agent can decide on anything about your life including financial matters, property decisions, and medical care.

Legal Aspects of Powers of Attorney

Power of attorney is only viable if you, as the legal principal, cannot make these decisions yourself - either due to disability or any other incapacitation. Generally, a power of attorney can be nullified after:

The principal withdraws from the agreement
The death of the legal principal
A court order declares the document inadmissible

Different types of powers of attorney will serve different needs and differ in terms of authority extended to the agent. Therefore, you need to understand the kind of agreements that you can choose depending on your needs.

For instance, medical power of attorney will only deal with decisions about your health, while a general agreement only applies to legal and other fiscal matters. To be safe, you may consider combining more than two powers of attorney for estate planning. Here are four types of powers of attorney and their specific legal guidelines.

1. General Power of Attorney

General power of attorney gives the agent extensive control over your responsibilities. Here, your legal agent can make decisions that would typically be yours to make, including:

Settling bills
Purchasing and selling off property
Signing contracts
Performing financial transactions

Your legal advisor might suggest using general power of attorney for only a short time, especially if you're temporarily unable to handle things on your own. A good example would be when you've traveled abroad and might be unable to make some decisions in person.

General power of attorney is nullified if you either become incapacitated or pass on. You can also revoke the agreement anytime you feel the need to.

2. Medical Power of Attorney

As mentioned earlier, medical power of attorney gives the agent control over your healthcare decisions. You can choose the agreement if you're battling a life-threatening condition.

Generally, the principal might be too sick to decide on their preferred choice of medical care. The agent can then decide on the treatment, medical care, and end-of-life care options available for you. On the document, you can include your preferred options to guide both your agent and physician when the time comes.

The presiding doctor can then sign off on the document and allow your agent to make medical decisions about your health. Before settling on an agent, you'll need to first talk to your legal counsel. They can help you understand your legal rights as you decide what to include in the directive.

3. Durable Power of Attorney

A durable power of attorney takes effect once you sign the agreement. Although the agreement might take a limited or general approach, rules state that your agent will still be in authority after you're incapacitated.

For instance, if you're mentally or physically indisposed, your agent will take over your financial and medical decisions. They can do so even after you're unable to communicate your wishes. The agreement automatically concludes after your death or if you decide to withdraw while you can still communicate.

Unless you make your power of attorney durable, the agent's authority will be nullified once you're declared incompetent or incapacitated. Also, you'll have nobody to stand on your behalf once you're incapacitated. In such a case, the court might have to choose a guardian for you in case of legal proceedings.

Deciding on a type of power of attorney requires you to think over your options carefully. Having reliable legal counsel on your side is very important. Should you have any concerns about your legal obligations, be sure to contact Donald B. Linsky & Associate PA .

5 Assets That May Be Able to Avoid Probate Entirely

websites@hibu.com (Hibu Websites) — Fri, 27 Aug 2021 11:12:00 GMT

After you pass away, the probate process confirms your estate plan and oversees the lawful execution of it per your will and other estate planning documents. Unfortunately, this can take sometime and calls for additional work by your executor.

The good news is that not everything must go through probate. With the right plans in place and the correct planning tools, some of your assets may be able to skip probate entirely. What type of assets? And how can they help? Here's what you need to know.

1. Accounts With Beneficiaries

Accounts that hold cash or investments often allow you to designate one or more beneficiaries to receive those funds upon your death. This commonly includes IRA accounts, your employer-based 401(k), brokerage accounts, and other investment funds. Depending on the type of account, the funds may need to be transferred to the beneficiary's account or the account owner may be renamed.

2. Accounts That Are Payable on Death

The payable on death designation process operates similarly to a beneficiary. Many banks and credit union accounts (both savings and checking) include the option to designate who can receive the funds upon the account holder's passing. Such accounts are particularly beneficial for providing for your final memorial arrangements or to provide for your family until probate clears other assets.

3. Jointly-Held Accounts

Do you have an account owned jointly with your spouse, adult child, parent, or other family members? A joint account with right of survivorship is one that both owners can use at any time. While that account may be considered partially your property while you are alive, it becomes wholly the other owner's property when you pass. As with payable on death accounts, this is good for your family's immediate needs.

The downside of jointly-held accounts, of course, is that the joint owner has access to the account while you're alive. Therefore, it should be used only with careful consideration beyond just the ease of estate planning.

4. Assets In a Trust

Trusts aren't as well-known by many Americans as the above accounts, but they are one of the best ways to avoid probate. Assets that were transferred to a legally valid trust either while you're alive or upon your passing are no longer considered your personal estate. The trust takes ownership and the trustee makes decisions for them. As a separate entity, the trust is not subject to probate.

Trusts come in a variety of shapes and sizes depending on your assets, your goals, your budget, and your needs. You can put just one asset - such as your stake in a business you operate - into a special trust or put the vast majority of assets in instead. You can use both revocable trusts which can be altered in your lifetime or irrevocable trusts which cannot.

5. Life Insurance Policies

Life insurance is a good tool for estate planning - not least of which because the insurance payout bypasses probate unless the estate is the beneficiary. Your heir can usually provide the necessary documentation and receive the proceeds immediately.

Some people use a small life insurance policy to pay for their funeral arrangements (especially if they have preplanned these) or to keep an heir out of probate.

Where to Learn More

While these and other less-common assets can be planned to avoid probate, save time, and protect everyone's privacy, they must be done correctly to be successful. And the best way to ensure this is to work with an experienced estate planning attorney in your state.

Donald B. Linsky & Associate PA provides Florida residents with help in all their estate planning needs. We will work with you to find the most expedient - but most legally enforceable - way to pass on your estate to your loved ones. Call today to make an appointment.

4 Will And Testament Errors You Should Avoid

websites@hibu.com (Hibu Websites) — Tue, 22 Jun 2021 20:47:00 GMT

A Final Will and Testament plays a critical role in settling matters of your personal estate. However, this key legal document can only achieve these goals if you prepare it correctly. Certain omissions or inclusions may work against your efforts to provide for your loved ones after your death.

Fortunately, you can optimize your will's effectiveness once you understand what validation rules you must follow and what kinds of assets and conditions you can't or shouldn't include. Take a look at four missteps you'll want to avoid during the will preparation process.

1. Neglecting the Basic Requirements for a Valid Will

First and foremost, any will must follow the rules and protocols that make it a binding legal document. For instance, if a younger member of your family wants to create a will, that person must first reach the age of majority. Pennsylvania has established its age of majority as 18 . However, other states may impose higher age limits.

Pennsylvania doesn't require you to sign your will in front of witnesses to make it legally valid. However, such witnesses may play a crucial role after your death by affirming to the court that you signed the will yourself. If you choose to recruit witnesses, try to select witnesses with no personal stake in your estate.

2. Including the Wrong Kinds of Assets

If you've seen films in which people's wills seem to include every possible asset, bear in mind that in real life it doesn't work that same way. If you try to include everything you own among the assets listed in your will, you may create complications that render the will void, which may cause the bulk of your estate to go into probate.

Some assets automatically go to specific parties regardless of what you direct in your will. For example, joint tenancy property always goes to the surviving tenant, while retirement plans and insurance benefits automatically go to the beneficiary you named in those agreements. Leave these items out of your will.

You should also exclude property named in a living trust from your will if you want to avoid awkward inconsistencies. If you've already placed assets in a living trust and you want them to go to a different beneficiary, you must modify the trust instead of trying to change your will.

3. Imposing Questionable Conditions

Don't make the mistake of adding conditions to your will that the recipient (or the court) cannot interpret and honor easily. For instance, you can't bequeath gifts on the condition that the recipients use them for illegal purposes. You should also avoid the imposition of any conditions that contradict other parts of your overall estate plan.

Even when the conditions you request create no obvious legal conflict, they may still prove so vague that the court may find them impossible to interpret or enforce. For instance, the condition that someone marries by a certain age offers much more clarity than the condition that the person finds true love.

4. Making Arrangements Best Made Elsewhere

A will can ensure that your beneficiaries receive many forms of much-needed support after your death. However, you shouldn't try to include arrangements for care that other types of legal instruments specifically cover, such as trusts designed to arrange care for someone with a disability.

Don't include your funeral arrangements in your will. Remember that your will must go through probate court, a process that can take weeks or months to complete. During this extended period, your beneficiaries might have no idea of your funeral directives or preferences. Make separate funeral arrangements instead.

If you want to ensure that your Final Will and Testament meets both your own needs and those of your beneficiaries, make an appointment with Donald B. Linsky & Associates PA. Our estate

Per Capita vs. Per Stirpes Distributions in Estate Planning

websites@hibu.com (Hibu Websites) — Thu, 20 May 2021 17:07:00 GMT

Do you have a large, multigenerational family? If so, estate planning can be complicated by the number of individuals involved, the generational relationships, and the probability of life changes among your potential heirs after you create your estate plan.

To make things easier, you may choose to use one of two distribution methods that name heirs without having to name every heir. These methods are known as per capita and per stirpes. Here's what you need to know about each.

What Is Per Capita Distribution?
Per capita is a Latin term that basically means per person. In estate planning, a per capita distribution among heirs means that each person is treated as an equal individual for the purposes of receiving their portion of the estate. For example, if you have two children and they have two children each, a per capita distribution to your descendants gives one- fourth to each person. There is no distinction between generations.
What happens if one of your adult children predeceases you? In this case, the per capita distribution would change to one-third going to each of the surviving children and grandchildren. On the other hand, if your youngest adult child has another baby, the distribution automatically changes to one-fifth each. All parties are affected equally.

What Is Per Stirpes Distribution?
Per stirpes is an approach by group or generation. Families are grouped as a single unit for inheritance purposes.
Consider the example above of two children and two grandchildren. If one of your adult children passes away, the estate is not divided equally between the three remaining heirs. In this case, only that late child's original portion is passed down to their children, so your remaining child would inherit one-half of the estate and the late person's two children would inherit one-fourth each.

How Do These Methods Help Planning?
One compelling reason to include some type of excess distribution instructions is to simplify your estate plans. You don't have to rewrite all your estate documents every time a baby arrives or someone passes away.
But its most important function is to prepare for the worst type of emergency most parents could imagine: a child or other heir passing away before them. This is especially important if the death of the child happens close to the passing of the estate owner or when the estate owner is not competent to make any will changes. Without this contingency plan, the remaining family members could contend the estate plan.

Which Method Is Best for You?
Both per capita and per stirpes methods of distribution are legitimate choices, and there is no one-size-fits-all choice. The right path depends on how you want other heirs affected when a change happens to one of them.
If one of your adult children pre-deceases you, how do you want their portion redistributed? If you want the others in their generation to absorb the change, per capita could accomplish this. Per capita can be seen as a fair division, in particular, if most or all of the heirs are adults and managing their own households and finances.
If, on the other hand, you want the deceased person's own heirs to receive their portion instead, per stirpes is a good solution. The per stirpes method keeps the individual family totals consistent no matter what happens within the family unit. And if generation-skipping taxes are prohibitive, per stirpes may be a better tax strategy.

Where Can You Learn More?
How would per capita and per stirpes distributions work in your own family situation? Learn more by meeting with the estate planning pros at Donald B. Linsky & Associate PA . We can work with you to analyze your choices and find the right estate plan to achieve your unique goals. Call for an appointment today.

Some Do's and Don'ts of Transferring Assets to a Trust

websites@hibu.com (Hibu Websites) — Fri, 30 Apr 2021 13:18:00 GMT

Once you create a trust to control your assets in the event of your death and to provide for yourself if you become incapacitated, your next step is to move those assets into the trust. But which assets should be placed in the trust and which might be more appropriate in your own personal jurisdiction? Here are some do's and don'ts for asset transfer to trusts.

Do Place Large Hard Assets in Trust
Start by identifying your most valuable - in financial terms or personal terms - hard assets and transferring these to the trust. Assets like real estate, vehicles, antiques, and valuable art or collectibles may be at a higher risk of ending up delayed through probate court if left outside the trust. This is often because there are few equally simple and effective methods for avoiding probate with such assets. Focusing your time and energy on the assets that would be most at risk allows you to use the trust to its maximum without spending all your time managing it.

Don't Forget the Value of Beneficiaries
Not every asset must go into the trust. You have options for many financial assets, including insurance policies and bank or brokerage accounts. These accounts usually allow beneficiary designations. The value of the account or policy may go directly to these beneficiaries without passing through probate. You may choose to leave these assets as they are and rely on beneficiary provisions. However, you may also opt to place them in trust, but this may not need to be a priority. Determine if the account would need to go through probate before deciding whether or not to place it in trust.

Do Consider Transfer and Tax Consequences Placing assets in trust usually doesn't trigger tax or ownership issues, but this is not guaranteed. For instance, a Certificate of Deposit transferred from an individual owner to a trust may be treated as an early withdrawal and generate a penalty. Similarly, some retirement accounts - including 401(k) plans or qualified annuities - may not allow you to transfer them until after your death. Do research first.

Don't Try to Capture Everything
Sometimes when a trust is created, the grantor tries to place everything possible into that trust for safekeeping. However, this isn't usually feasible because assets come and go from a person's life all the time. Many personal assets are also simply too small to worry about protecting with a trust. But you can use a tool known as a pour-over will to capture these. A pour-over will is a will that stipulates that the remaining assets of a person be transferred into their trust when they pass away. Therefore, these assets can remain outside the trust for now and still be protected by it later.

Do Transfer Business Interests
Do you own a partial or full stake in a family-owned business? If so, your interest is an asset that deserves special consideration for the trust. Business interests that are left in a will may be especially challenging for your executor because they will need to operate your business interest while it's in probate. A trust avoids this hassle and allows quick and efficient transfer of that interest. Methods for transferring business interests to a trust vary depending on the type of business, so this may be somewhat complex. A sole proprietor, for example, may be able to simply transfer the assets while a member of an LLC may need other shareholders' permission for the transfer.

Do Work With an Attorney
As with many aspects of setting up a trust, funding it can be difficult. Whether you have unusual assets or you want to keep things as simple as possible, your best ally during this process is an experienced estate planning attorney in your state. Donald B. Linsky & Associate PA can help Florida residents with all their planning needs. Call today to make an appointment.

Things to Consider When Choosing a Health Care Surrogate

websites@hibu.com (Hibu Websites) — Mon, 22 Mar 2021 11:29:00 GMT

When preparing your estate documents, don’t forget to designate a health care surrogate. You will need the surrogate to make health decisions on your behalf if you are incapacitated. Below are considerations to help you choose a good health care surrogate.

Availability

Your health care surrogate should be easy to contact because you don't know when you might need their services. The surrogate should be available in terms of both location and time. For example, the surrogate should not be so busy with their life or work to the extent that they can't spare some time to consult with your doctor.

Similarly, you shouldn't choose a surrogate who is mostly out of the country. Even when you don't need the surrogate's physical presence, they should be reachable via phone, and this is not always guaranteed for those outside the country.

Physical and Mental Ability

Your surrogate should have the ability to handle the tasks expected of them. Duties of a health care surrogate include:

• Consulting with your physicians on your health or medical conditions

• Making health care decisions on your behalf

• Applying for health care benefits on your behalf

• Managing the administrative duties of getting you admitted to health care facilities

Choose someone who has the physical and mental ability to handle these tasks. For example, your surrogate should not be suffering from mental illnesses that can hinder their decision-making abilities.

Ability to Pay Attention to Detail

Consider a person who pays attention to detail as your healthcare surrogate. There might come a time when the surrogate has to:

• Read medical documents

• Scrutinize the small prints on medical forms

• Make legal applications (for example, for public health benefits)

In such cases, your best bet is someone who doesn't gloss over the small stuff.

Dependability

A good health care surrogate should be someone you can depend on to keep their word. You don't need someone quick to say yes but slow to keep promises. For example, if the surrogate promises to evaluate all treatment options before deciding on the best one, they should do just that if the time comes for it. Therefore, you should know your surrogate well.

Tenacity

Being a health care surrogate is not easy. Your surrogate might differ with the opinions of others involved in your healthcare, such as:

• Your family members

• Your friends

• Government officials

You need a person who doesn't buckle under pressure. The surrogate should stick to their convictions or decisions and only change their mind when presented with irrefutable contrary evidence.

Familiarity With Health Issues

You don't have to choose a doctor as your health care surrogate, but having a person with some knowledge of the medical field or industry is helpful. A social worker or nurse, for example, may be able to understand medical concepts faster than others without connections to the health industry. At least, your surrogate should be a quick learner and open-minded.

Communication Skills

You should also consider a good communicator for your surrogate. The surrogate doesn't need award-winning public speaking skills, but the person you choose should be able to communicate your preferences and their decisions with ease. For example, someone who prefers speaking via grunts or headshakes might not be the best health care surrogate.

Willingness

None of the above qualities will help if your health care surrogate isn't willing to handle their responsibilities. You should talk to your potential surrogate and get their permission before designating them as such. Help the surrogate make an informed decision by explaining what you require of them.

Donald B. Linsky & Associate PA has decades of experience in estate planning. We can help you make your advanced care directives, as well as help with other aspects of estate planning. Contact us for a consultation to start your estate planning process.

Your Legal Rights When Buying a House

websites@hibu.com (Hibu Websites) — Mon, 15 Feb 2021 17:05:00 GMT

Every homebuyer has certain legal rights to protect their interests. Below are some of these rights.
Right to Be Free From Discrimination You have a right to go through the purchase process without any form of housing discrimination. Any form of discrimination is bad, but the Fair Housing Act forbids some specific forms of discrimination. For example, a home seller shouldn't discriminate against you based on your:

Sex
Race
Disability
Religion
Familial status

Note that discrimination can be blatant or subtle. You might not spot subtle discrimination if you don't know what to look for. However, a lawyer helping you with the purchase process will spot such things.
Right to Information A successful property purchase involves tons of information, which you need to make an informed decision. You have the right to all the relevant information, including the following.
Seller Disclosures Disclosures include all the relevant facts that affect the property's value or desirability. Disclosures on things you cannot see are particularly necessary. The necessary disclosures vary by state. Here are some of the disclosures Florida requires:

Radon gas danger
Mandatory HOA (homeowners association) membership
Legal disputes, such as boundary disputes
Wood-destroying pests, such as termites

Again, a lawyer can help confirm that you have all the necessary disclosures.
Encumbrances Encumbrances are third-party claims on a property. Examples include:

Existing mortgages
Tax liens
Easements

Encumbrances affect the transferability of property and can affect your legal right to the property after purchase.
Document Lastly, you have the right to relevant documents related to the sale. Examples include the title deed, seller's affidavit, and bill of sale (if the agreement includes personal property).
Right to Fair Appraisal A property appraisal is a professional estimation of the property's fair market value. Lenders use appraisals to ensure they don't loan you more than the property's worth. An appraisal also helps you avoid overpaying for a house. Ask the appraiser to reevaluate the appraisal report if you suspect inaccuracy. You can also commission an independent appraisal.
Right to Inspection The average person cannot determine the condition of a house since some defects are not always visible. A professional property inspector knows what to look for to determine the property's true condition at inspection time. For example, the inspection will reveal pest damage if the property has suffered the same. You also have the right to choose the property inspector.
Right to a Walk-through An inspection will reveal a property's true condition, but a lot can change between the inspection and closing date. You have the right to a final walk-through to confirm that the house's condition hasn't significantly changed before closing. You can also use the walk-through to confirm that the seller has completed the agreed repairs and included everything you agreed upon.
Right to Walk Away Lastly, you have the right to walk away from the deal before signing the final closing papers. You can walk away from the deal without any repercussions if the seller hasn't accepted your purchase offer. Once the seller has accepted your offer, your ability to walk away without repercussions depends on:

The stipulations on the contract
Your reasons for walking away

For example, you can walk away without a penalty if the seller hasn't met a contingency you included in your purchase offer. Note that no one can force you to purchase a home even if you just change your mind and no longer want the house. The worst that can happen is that you will lose your earnest money.
You can lose money or miss your dream house if you don't understand your rights. Donald B. Linsky & Associate PA will ensure you understand your rights, the purchase process, and your legal options if any of the parties to the purchase infringe on your rights. Contact us for a consultation to determine how to help you best.

Signs of a Strong Property Defect Claim

websites@hibu.com (Hibu Websites) — Wed, 20 Jan 2021 15:11:00 GMT

Anyone who sells you a defective property might owe you damages. The seller's liability depends on the circumstances of the sale and the nature of the defect. Below are some factors that strengthen your property defect claim.

The Defect Is Major

You have a strong chance of recovery if your case involves a major defect. After all, a major defect would cost you more money to remediate than a minor defect. Note that defects that are natural byproducts of aging or wear and tear won't trigger strong claims.

Consider a case where you buy a house only to realize that the insulation contains asbestos, a health hazard. You may have a strong claim since you must get rid of the asbestos, and the remediation process is costly.

The Defect Existed Before the Purchase

Secondly, you must also prove that the defect existed before you bought the house. You are solely responsible for defects that arise after the purchase process. Examples of preexisting defects include:

Use of inferior materials
Existing termite damage
Violation of existing codes

However, an earth movement that causes foundation damage after the purchase doesn't make a strong case. The seller or constructor couldn't have known about the damage.

The Defect Wasn't Obvious

Most buyers conduct a walkthrough when buying real estate properties. Industry experts will also advise you to have a professional property inspector to assess the house's condition. In many cases, one or both processes will catch a major defect.

For example, a visible crack on the wall is obvious. However, a foundation defect or hidden water leak might not be obvious. Such imperceptible defects trigger stronger clams than obvious defects.

The Seller Lied or Failed to Disclose the Defect

Property sellers and developers have a legal obligation to disclose certain defects to prospective buyers. The disclosures help prospective buyers make informed decisions. The obligatory disclosures vary by state. Here are some disclosures Florida requires:

Legal claims, such as property liens, against the property
Boundary disputes
Past or present sinkholes
Structural problems

You have a strong claim if you have a problem that the seller should have disclosed but didn't.

You also have a strong claim if the seller intentionally lied to you. In such a case, it doesn't matter whether the problem involves an obligatory disclosure or not. Consider a case where a property seller lies to you about past pest infestations on the property. In such a case, you have a strong claim even if the seller wasn't required to specifically mention the pest infestation.

You Followed the Relevant Procedures

Real estate laws determine the rules and procedures you must follow when you discover a defect after buying a property. Following such rules to the letter will strengthen your claim. For example, Florida requires you to notify the seller and allow them to rectify the defect before you can file a lawsuit.

You Mitigated the Damage

Lastly, mitigating the damages will also strengthen your claim. Mitigating the damages shows that the seller is wholly responsible for your losses. Otherwise, the seller might argue that you are responsible for some of the damages.

Say you discover a leaking roof a few weeks after purchase. You should cover up the leak and protect your house's contents from water damage.

An experienced real estate lawyer can evaluate your claim and help recover your damages. For example, the lawyer can help you understand the applicable real estate laws in your case. Donald B. Linsky & Associate PA has a wealth of experience in real estate law. Contact us for a free initial consultation to evaluate your case and determine the way forward.

5 Tips for Including Your Personal Property in a Will

websites@hibu.com (Hibu Websites) — Wed, 16 Dec 2020 17:51:00 GMT

Your will is your primary means of deciding what happens with not only your money, real estate, and large assets but also your personal property. How should you handle personal property — your belongings, household goods, tools, or memorabilia — within your will? Here are five key tips to make it a success.

1. Inventory Your Stuff

Before you decide who should get what, start by understanding exactly what you have to give. Your valued possessions — sentimental items, artwork, or large equipment, for example — may be easy to inventory and track, and you may already know who you want to have them. But take this opportunity to write it all down for later use.

Inventorying other property may take work. You might want to have some pieces valued. Valuation helps you decide how to divide financial assets. It's also good to know if any family conflict might occur over your choices. In addition to valuation, you might need to determine the condition of certain items or if they need special care.

2. Decide What to Specify

Once you have completed an inventory and valued items, think about what in particular you want to focus on. Most people make a list that contains things of significant financial value as well as those of sentimental importance. You should also address goods that you know a certain person would particularly like to have.

How much personal property you list individually is up to you. Some people divide up a lot of personal items — and may even want to make some sort of attached statement about some of them. Others may only care what specifically happens to a few things. There are no right or wrong approaches.

3. Leave Residue as a Whole

Do you have to list all personal property individually within your will? Generally, no. In fact, an attempt to do that would probably become unwieldy and even impossible for most people.

The good news is that it's not necessary to get overly detailed. Once you've addressed your priority list of properties, you can leave what remains in your estate as a whole unit. This is known as the residue or residuary estate. Generally, the will simply states that personal property not already listed is left to one or more beneficiaries you name.

4. List Personal Property Separately

Keep in mind that any estate plan, including your will, is subject to changes. Your wishes may change, your family may change, financial values may change, and the personal property may change.

Because of this, you may be advised to make it easier to change your plans for your personal property. Do this by using a separate addendum or memorandum rather than listing everything in the body of the will. This way, if you adjust anything, it's easier and less expensive.

5. Don't Forget Intangible Property

Don't forget personal property that you may not be able to see or touch. This is known as intangible property, and it should be part of the will. Intangible property could include the passwords and accounts of your online or social media life. You might also include any copyrights, royalties, or intellectual property you own. Sole proprietors may need to list intangible business property as well.

Managing all the parts of estate planning — even in something as relatively simple as a will — can be challenging. The best way to ensure that nothing is missed is to work with an experienced estate planning attorney in your state.

Florida residents have relied on Donald B. Linsky & Associate PA for nearly 40 years. Our legal team can help you too. Call today to make an appointment and get answers to your questions.

Beyond a Last Will and Testament: Other Estate Planning Tools

websites@hibu.com (Hibu Websites) — Mon, 16 Nov 2020 20:34:00 GMT

A last will and testament communicates your last wishes to your dependents. A last will and testament is a common tool for estate planning. However, you can use other estate planning tools. Below are some of these estate planning tools.

Joint Ownership

Joint ownership is one of the easiest ways to pass property to a beneficiary. Just make sure you choose the right form of joint ownership. Florida recognizes four types of joint ownership:

Joint tenancy
Tenants in common
Joint tenants with right of survivorship
Tenancy by the entireties

Of these four, the last two are the best for estate planning purposes. In both cases, the surviving owner automatically assumes full ownership of the property upon the other owner's demise. The only difference is that tenancy by the entireties is restricted to married couples, while joint tenants with the right of survivorship apply to everyone.

Payable-on-Death Account

If you would like to leave your beneficiaries some money, consider using a payable-on-death account. A payable-on-death account is a financial account with a designated beneficiary. The beneficiary assumes the account's full ownership upon the account holder's demise.

A payable-on-death account has two main benefits. Firstly, the designated beneficiary cannot access the account in your lifetime. Secondly, you don't have to dedicate a specific amount of money to the beneficiary. The beneficiary receives whatever is in the account at the time of your demise.

Trusts

A trust is an arrangement where one party gives another party the right to manage assets on behalf of a third party. The original owner of the assets is the grantor, the party who manages the property is the trustee, and the third party is the beneficiary.

Like other states, Florida recognizes various forms of trust. The common ones include:

Revocable living trust : You (the grantor) control the assets in the trust during your lifetime.
Irrevocable living trust : You lose your rights to any assets in the trust, and you cannot change it.
Land trust : You create the trust for real estate property (both land and buildings).
Medicaid trust : You use this to leave money for your children instead of using the money in long-term care.

Your assets plus your estate planning goals determine the best trusts for you. An estate planning attorney can help you with an in-depth review of these trusts.

Durable Power of Attorney

Lastly, a durable power of attorney is also a powerful estate planning tool. A power of attorney is a legal arrangement where you (the principal) give another person (the agent) the right to act on your behalf. Florida recognizes various forms of power of attorney, such:

A general power of attorney that comes with a broad range of powers
A limited power of attorney that limits the agent to a single issue or transaction
A durable power of attorney that exists whether the principal is incapacitated
A springing power of attorney that becomes effective if the principal is incapacitated

Of these four, the springing power of attorney is best for estate planning. You select a trusted person to act as your agent so that they can manage your affairs, such as your businesses, if you are unable to do so. That way, the businesses are unlikely to collapse and impoverish your estate (and by extension, your beneficiaries).

Planning your estate is not just about writing your last will and testament. Donald B. Linsky & Associate PA can help you plan your estate in a way that incorporates all your plans and wishes. Contact us for a consultation to begin working on your estate plans as soon as possible. We look forward to helping you.

Tips to Ensure Your Estate Plans Cares for Your Pet

websites@hibu.com (Hibu Websites) — Wed, 14 Oct 2020 22:15:00 GMT

Your estate planning efforts should include everything you own, including your pets. Below are some tips to ensure your pet will receive the care and love they need after you are gone.

Treat Your Pet as a Property

The first piece of advice is that you should actively include your pet in your estate plans. Don't assume that your loved ones will automatically take care of the pet. You may have considered the pet as a member of your family, but the law considers it your property.

If you have an estate plan, any property that doesn't have a specific beneficiary goes to the residuary beneficiary. The residuary beneficiary might not care for the pet as well as you want. Thus, specify the person or organization you want to have the pet.

Ensure the Beneficiary Is the Right Fit

Choose a beneficiary who will take good care of the pet. The beneficiary should:

Love pets
Have the resources to take care of the pet
Have the time to take care of the pet

For example, someone who travels most of the time might not be the best one for your pet. You know your loved ones and friends. Leave the pet to someone who won't consider the pet a burden.

Don't Make the Pet a Beneficiary

Don't make your pet one of the beneficiaries of your estate plans. Pets cannot legally own properties. If you leave any property to your pet, such as money, then any of these things will happen:

The alternate beneficiary will receive the money
The residuary beneficiary will receive the money
The intestate succession laws of the state will determine who gets the property

Since you cannot be sure any of these parties will use the property for your pet's benefit, don't leave the pet anything directly.

Inform the Beneficiary in Advance

Taking care of a pet requires time, money, dedication, and love. Don't surprise your loved ones with this responsibility. Inform your potential beneficiary about your plans in advance. Gauge the potential beneficiary's reaction to determine whether they are the best fit for the pet.

You can interview a few potential beneficiaries and pick the best one. Include an alternate beneficiary for the pet if circumstances change and they can't have the pet. For example, your first choice beneficiary might get a child with a pet allergy and decide they can't have the pet.

Consider a Private Organization

Your family, friends, or other individuals are not the only options of beneficiaries for your pet. If you don't have a suitable individual in your circle of loved ones, you can leave the pet to a private organization.

Most of these organizations require some monetary donation to help them care for the pet. For example, the Kansas State University School of Veterinary Medicine will care for your pet for a minimum donation of $25,000 .

Consider a Pet Trust

The beneficiaries in your estate planning documents don't have a legal obligation to accept the properties you leave to them. Thus, you have no guarantee that the person you leave your pet to will care for the animal.

Consider a pet trust for a legally binding arrangement. The pet trust will specify:

The pet's caretaker
The money to take care of the pet
The care for the pet
The person who enforce the trust's directives

A pet trust also makes sense if you have a unique pet that requires special care, and you have the money for the trust.

Take the right steps to safeguard your pet's future while you are still able to do so. The professionalism and experience of Donald B. Linsky & Associate PA means we can help you prepare your estate planning documents. Contact us to ensure that not just your pet but all your possessions will go to the right people after your demise.

6 Questions to Help You Choose the Right Trustee

websites@hibu.com (Hibu Websites) — Thu, 17 Sep 2020 15:50:00 GMT

If you plan to establish a trust to better protect your finances and your own interests, you need a trustee who will carry out the work of managing the trust in your absence. But who can serve in this role? And what should you look for in a trustee? Here are six questions you can answer to find the right party.

1. Who Is Allowed to Be Trustee?

First, learn who your state allows to serve as a trustee. While the rules are fairly loose, they do vary by state. Generally, most individuals can be named a trustee if they are past the age of majority and are legally competent to do the work. However, some state rules bar anyone from this role if they are also a beneficiary. This could preclude a number of family members or friends.

2. Does the Person Want the Job?

No matter how much you want a particular person to execute your wishes, remember that this is a job that not everyone wants to do. If the person feels forced into the position, they may not do as well at it as you want. They might not be able to spend the time needed to make the best decisions. And it could be that they know deep down they wouldn't be the right fit. Listen to your candidate's feelings on the matter.

3. Does the Candidate Know Your Wishes?

A trustee's job is to carry out your own wishes rather than theirs. This means that they must understand what your wishes and interests are. Many people want to use friends or family to serve as trustees, as these have the highest likelihood of knowing what you would want. But they may not act impartially. An independent trustee, such as a banker or lawyer, can also carry out your wishes if you communicate well.

4. Can You Pay a Trustee?

Trustees can be paid for their time and effort, but this will also take money out of the trust. Can your trust pay for the service? And if so, how much? If you want to use an independent trustee (like your accountant), you'll need to pay more for professional services. If this could deplete the trust, you may need to stick with family or friends who are willing to work for much less compensation.

5. Will the Person Be Around?

Ideally, you want a trustee who will be able to do the job for many, many years. This is particularly true for younger persons who set up a trust to care for their needs as they get older. In addition, a trust with certain ongoing stipulations will need active management for many years. Consider age as a factor, or make a plan to use a corporation, bank, or law firm who you believe will remain in business.

6. Can the Trustee Handle the Responsibility?

Finally, is the person you want to assign the right personality for the job? Trusteeship is an ongoing role that requires a person to manage money, maintain documentation, report to beneficiaries or the court, and proactively act in the beneficiaries' best interests — even in emotionally charged situations. And it could last for decades. Be sure the person is up for the task.

As you answer these questions, you will undoubtedly start to see who may or may not be right for the position of trustee. Want more help assigning trustees, using independent trustees, or communicating with your candidates? Start by consulting with an experienced trust attorney. Donald B. Linsky & Associate PA can help. Make an appointment today to learn how.

Want to Break a Lease? Finding a Way Out

websites@hibu.com (Hibu Websites) — Mon, 24 Aug 2020 14:07:00 GMT

Do you want to leave your leased apartment or house early? Renters have many good reasons to need out of a rental contract early, but they don't always have clear paths to do so. However, you may have more room to maneuver than you think. Not sure what your options are? Here are a few steps you should take to find out.

1. Check Your Lease

The first place to look for any way to break a lease with the least difficulty is in your lease agreement. If you signed the lease months ago, a year ago, or even more, don't rely on your memory when it comes to lease language.

Some leases don't address issues of early termination beyond what the state allows, but others have clauses that may give you options. For instance, leases in an area popular with renters may allow tenants to terminate their agreement early in exchange for a penalty fee. This fee could be an acceptable amount depending on what remains of your term and how eager you are to leave.

2. Research State Law

If your lease agreement doesn't provide exactly what you need, the next step is to learn what state rules are where you live. In Arizona, for instance, tenants have the right to early termination without penalty if they are entering active duty service in the uniformed services or are a victim of domestic abuse with documented law enforcement verification.

Nearly all states provide for tenants to leave if their rental unit is rendered unsafe for habitation or if the landlord has violated your tenants' rights. You'll need to understand these rights, though, in order to enforce them.

3. Consider Your History

Are you leaving because of repeated problems with your landlord? Depending on the types of landlord disputes involved, you may have a case that falls under provisions for violations of tenant rights or unsafe living conditions.

Has your landlord refused in the past to fix problems with the unit? If you've been ignoring a serious ongoing problem because your landlord is a jerk or you don't feel you have a choice, this could be the foundation of your case to get relief. Similarly, if the rental owner has engaged in acts of retaliation when you have exercised your tenants’ rights, you could have a case if you provide documentation.

4. Talk to Your Landlord

If the situation with your landlord is not so dire as to prevent communication, consider speaking with them in person about your situation. The landlord, ultimately, can make a change to your lease agreement with your permission. So if they are amenable to adding an early termination clause, you might be able to come up with a compromise.

If the landlord is sympathetic but unwilling to change the terms, discuss any statute in your state that requires them to mitigate the damage of you leaving. These rules — in effect in Arizona and other states — generally mandate that the landlord make reasonable efforts to find a new tenant for your unit once you leave. If they find a tenant, they would deduct the new rent from the remainder owed by you.

5. Meet With an Attorney

If you feel that your situation warrants that you assert your rights as a tenant, be sure to work with a qualified real estate lawyer in your state. Contract law and real estate legal actions can be complex, and your landlord will likely have their own attorney on their team. You need one familiar with all the possible ways that tenants may be able to break their leases.

In Arizona, tenants can look to Donald B. Linsky & Associate PA for help with their early termination needs. Call today to make an appointment.

3 Lease Clauses That Give You the Purchase Option

websites@hibu.com (Hibu Websites) — Tue, 21 Jul 2020 14:25:00 GMT

If you can't decide whether to lease or buy a property, negotiate a lease agreement with an option for purchase at a later date. If you find the right property owner, you can lease the property for some time and purchase it later. Below are the three main clauses that give you the purchase option.

1. Right of First Refusal

The right of first refusal means the property owner has to inform you if they get a purchase offer for the property. The owner doesn't have to inform you before listing the property for sale. They only have to inform you if they get a purchase offer. You can then decide to match the offer and buy the property or let the sale proceed.

The major benefit of the clause is that the owner cannot sell the property without your knowledge. The major drawback is that the owner can get a purchase offer when you don't have the resources to match it.

A right-of-first-refusal clause should include a time-to-respond — the time you have to accept or decline the offer. The owner is free to sell the property if you don't act within the time-to-respond. Negotiate a reasonable time-to-respond so that you don't miss the purchase option due to unpreparedness.

Another tip is to start saving from the beginning of the lease. That way, you can buy the property whenever the owner decides to sell it and receives an offer.

2. Option to Buy

The option-to-buy clause gives you the right to buy the property within a specified period. Here are some features of this clause:

The seller doesn't have the right to sell the property
The lease agreement includes the negotiated purchase price
You don't have to buy the property

The option-to-buy clause varies. The lease-to-own transaction is a variation of the option-to-buy clause. For a lease-to-own, you make the purchase payments alongside the normal rent payments.

An option-to-buy agreement typically has a fixed purchase price. An agreement with variable prices is also possible. For example, a property owner might insist on a variable price if the agreement extends over a long period. With a lengthy lease, the property owner might require a new appraisal or inflation adjustment of the pre-negotiated price.

3. Right of First Negotiation

The right of first negotiation (right of the first offer) requires the property owner to come to you first if they want to sell the property. Unlike the right of first refusal, the property owner cannot list the property for sale before they contact you. Here are some critical features of this clause:

It doesn't include a pre-negotiated price — you negotiate the price if the seller comes to you with the offer.
The owner is free to sell the property to another person at a lower price if you can't agree on a price.
It includes a negotiation period, after which the owner can end the negotiations and look for an alternative buyer.

The right of first negotiation is not as powerful as the other clauses. At least, you know if the property owner intends to sell the property. The inherent weakness of the clause means it is also easy to have included — most property owners won't object to it. A hidden advantage of this clause is that if the property owner doesn't get a seller, they might come back and accept a lower offer.

A property lease is a legally binding contract. Understand every clause and term in the lease before you sign. Otherwise, you might end up with a lease that you neither understand nor need. Donald B. Linsky & Associate PA can help you negotiate and sign the right lease. Contact us today so that we can help you with all your real estate transactions.

Tips for Handling Disputes With Your HOA

websites@hibu.com (Hibu Websites) — Thu, 18 Jun 2020 19:39:00 GMT

A dispute with your homeowners' association (HOA) can be costly if you don't handle it right. Use the following tips to help you solve disputes with your HOA.

Understand the Laws and Rules

The first step is to understand what the law and rules say about the subject matter. Research your HOA's rules, your state's laws on HOA management, and federal real estate laws. The research will help you confirm that you are on the right before you escalate matters further.

Understand what the rules say, how to change the rules, what the enforcement strategies are, and what the penalties are for rule-breakers. Here are a few tips for research into the laws and rules that affect your relationship with the HOA:

Scrutinize your HOA agreement
Seek clarification from the HOA
Research state and federal laws online
Consult a real estate lawyer

For example, Florida laws give you the right to attend and speak in all meetings of the board. Thus, a board that locks you out of their meetings is in violation of the law.

Use Written Communication

Use written communications in all your dealings with the HOA. Written communication can take the form of typed, faxed, or handwritten documents. Even when you make a verbal agreement, send a written confirmation. That way, you can use the communications as evidence in future dealings with the HOA.

Pay Your HOA Dues

You must pay your HOA dues even if you disagree with them — pay even if the disagreement is about the payments. The payments are your legal obligations as long as you are a member of the HOA. Most HOAs charge interest and penalties for those who default in payments. Stopping payments is the same as taking matters into your own hands and won't help you.

Rally the Neighbors

If the issue at hand affects all or many of the HOA members, then you can rally the others to help you with the dispute. Examples of issues that affect many people include:

Mismanagement of HOA funds
Poor communication
Poor discharge of HOA duties

There is strength in numbers. The management may be more inclined to deal with your complaint if you have the backing of your neighbors than if you are a lone ranger.

Be Civil

Be civil in all your dealings or communication with the HOA. Don't make it an issue of you against them. Make the HOA understand that your main interest is to resolve the dispute. You should specifically resist the urge to get personal with members of the board. Personal attacks waste time, create enmity between you and your HOA, and don't solve anything.

Consider ADR

Alternative dispute resolutions (ADRs) are techniques to resolve disputes without lawsuits. Most HOAs have rules that demand ADRs before members can file lawsuits. ADRs make sense even if your HOA agreement doesn't have the requirement. The two common forms of ADRs include:

Mediation – involves a third party who acts as a moderator to help you negotiate and agree
Arbitration – involves a third party who listens to your arguments and issues a ruling

ADRs can help keep your relationship with the HOA (and other members of the HOA) cordial and save you time and money.

Seek Legal Redress

While you might be reluctant to sue your HOA, sometimes that is the only option to solve a dispute. Weigh the pros and cons of a lawsuit before you file your case. For example, a lawsuit may be worthwhile if you have lost or stand to lose a lot of money with the dispute.

Donald B. Linsky & Associate PA can help you handle any dispute you might have with your HOA. We can advise you, represent you, or help you seek legal redress. Contact us today so that we can assess the dispute and advise you on the best way forward.

Do You Value Privacy? Act Now to Protect Your Assets

websites@hibu.com (Hibu Websites) — Tue, 19 May 2020 20:10:00 GMT

Is your privacy important to you? Whether you have a huge estate or a more modest one, if you want to protect that privacy both before and after you pass away, you need to take steps now. Why is acting early important when it comes to privacy? And what should you do to ensure financial, legal, and personal privacy? Here are a few answers. Why Protect Your Privacy Now? For those who value their privacy, it's never too early to start. In today's world, information about your assets and financial situation — or even your own whereabouts — becomes easier and easier to find out. With a quick internet or public record search, unwanted salespersons, creditors, ex-spouses, or even estranged family members can learn where you live and many of the major assets you own. If you pass away, unfortunately, your estate will become even more public. During the probate process, a filed will usually becomes public record for all to see. This means that everyone who submits requests through county public records offices can often find out what your assets were and who they may have been left to. While this information doesn’t usually cause any problems, if you have intentionally left anyone out of your will, left certain sentimental items to particular people, or distributed your assets in an unequal manner, others will be able to find out — and possibly create problems. Your personal decisions are opened up for public debate, or even worse, potential litigation. Surviving family and heirs are also exposed in this process because public records may indicate who got what and how much. Beneficiaries and family members may then have to deal with their own privacy issues or be subjected to creditor hassling as a result. What Tools Do You Have Available? The best way to avoid privacy issues is to use a separate entity to own the assets you wish to keep out of public view. There are two main categories of such entities. The first choice — and possibly the easiest — is to create a basic business entity such as a limited liability company (LLC). The LLC can be structured like a corporation, taking ownership of designated assets and removing your name from the record. As owner of the LLC, you would still retain control. The biggest potential problems with this method usually involve the timing or gifting of assets. You might wish to use the second option, an irrevocable trust. An irrevocable trust is one in which you cannot receive ownership of the assets back from the trust. This permanence makes the trust a separate legal entity from yourself. Trusts are separated from the individual both while he or she is alive and after their death. The trust's assets and distribution are not subject to probate and public record. With both choices, you can decide which assets to transfer to the entity and which to keep on your own. And with an LLC, you can generally get your assets back if you change your plans later on. How Can You Choose the Right Methods? The decision on how to maintain your privacy is important. Choosing the wrong vehicle — such as a revocable trust — may not protect your interests in the ways you desire. And certainly, inaction allows certain data sets to become public record, whether or not you want them to. Start today by learning more about your options as well as the pros and cons of both trusts and business entities. Donald B. Linsky & Associate PA can help. Our estate planning and business planning pros can aid you in researching, designing, and executing your privacy protection plan. Call today to schedule a consultation.

Estate Planning: What You Need to Know

websites@hibu.com (Hibu Websites) — Fri, 17 Apr 2020 17:26:00 GMT

Every person should have an estate plan in place. Estate plans are unique to each person and detail things such as what happens to your property and money after your death. If you do not have a plan in place, your local government will step in and could go against what you had in mind. And while most people choose to have a lawyer create their estate plan for them, you should know the basics so that you can work more closely with your attorney. With that in mind, discover what you need to know when figuring out your estate plan. Debt Coverage One of the first things you will want to think about is how you will cover any debts. A great way to do this is to secure auto, home, life, and disability insurance. These policies will protect you in the event of a sudden accident and can help to cover any outstanding debts, including burial costs. You should consider the outstanding debts you are likely to have in the future and factor these into the insurance plans that you pick. Asset Ownership Next, you will want to think about what happens to your assets after your death. Assets include things such as homes and cars. In your estate plan, you can designate who will receive ownership of these assets. To do this, you could add the recipient as a co-owner on the title now. Depending on the value of the asset, you might have some federal gift taxes involved, so you will want to consult with your lawyer before beginning this process. Beneficiary Designation If you do not want to add someone as a joint owner to your assets now, you can designate them as a beneficiary instead. As a designated beneficiary, the person will receive the property upon your death but will not be a co-owner before then. This is typically done for things like bank and other financial accounts but can sometimes be useful for real estate and motor vehicles. Power of Attorney You can consider two types of powers of attorney as a part of your estate planning. The first is a financial power of attorney, which is when you authorize someone to act on your behalf as it relates to financial matters. You can either choose to grant this power right away or at some future event, such as incapacitation or death. Similarly, you can grant a healthcare power of attorney. This person will have the authority to make healthcare-related decisions for you, in the event you are unable to. Discuss your healthcare decisions with this person, or leave instructions within your estate plan. Final Instructions Finally, as a part of your estate plan, you can leave any final instructions that you would like to pass on. You can leave instructions such as where to find financial accounts, passwords for certain online accounts, contact information for close relatives and friends, and any desires you have regarding your burial ceremony. A document outlining all this included in your estate plan will be of great assistance to whomever you entrust with responsibilities after your death. Start Preparing Your Estate Today We never know what the future holds, so be prepared. You should start thinking about your estate plans as soon as you can so that you can rest easy knowing that things are taken care of no matter what happens. So whether you start an estate plan from scratch, or you want to update an existing one, please contact Donald B. Linsky & Associate PA for a consultation today. We look forward to hearing from you.

Changes That Merit a Review of Your Estate Plan

websites@hibu.com (Hibu Websites) — Fri, 03 Apr 2020 10:08:00 GMT

A carefully designed, properly implemented estate plan can make all the difference between an orderly transition of your estate and a chaotic scramble among beneficiaries. However, no matter how carefully you have constructed your estate plan documentation, changing circumstances can still render it inadequate.

It pays to revisit your estate plan periodically to ensure that its provisions still meet your needs, especially when certain specific changes impact your life. Here are some changes that should prompt you to take a fresh look at your estate plan, check it for outmoded provisions, and make any necessary revisions.

Changes in Tax Laws

Tax laws change from time to time, and when they do, they can render parts of an estate plan invalid or unsatisfactory. For example, you might have had no concerns about federal estate taxes at the time you drafted the plan, only to discover that changes in these laws now make your estate vulnerable to such taxes.

By contrast, changes in federal estate tax exemption limits may now permit you to leave more to your beneficiaries without worrying about estate taxes. For the year 2020, any individual with an estate worth less than $11.58 million can claim exemption from the federal estate tax — you may want to adjust your estate plan accordingly.

Estate tax laws can also change at the state level. Keep in mind that even though Florida does not currently impose an estate tax, this situation could theoretically change at some point. Regular consultations with a skilled estate tax attorney can help you react to any such changes as needed.

Changes in Marital Status

The end of a marriage, either through a divorce or through the death of a spouse, can render much of your estate plan obsolete. An estate plan written with shared real property ownership in mind will no longer apply if your spouse has died, thus forcing you to transfer your real property to another beneficiary instead.

You may not want your ex-spouse to inherit your real property or other assets upon your death, even if you had originally planned to leave everything to that person. If you want to make sure that this scenario doesn't occur, make the appropriate changes to your estate plan as soon as possible.

Changes of Location

Relocation can affect your estate plan's validity. For instance, the state of Florida requires you to name an executor who either resides in Florida or can show a relationship to you by marriage or blood. If you now live in Florida but your executor still lives in your previous state of residence, you may have to change executors.

Some aspects of your estate plan may not need changing even if you move from one state to another. This portability holds true for revocable living trusts, which generally remain valid in any state. Beneficiary designations should also remain valid.

The rules for accepting out-of-state medical power of attorney (POA) designations vary from state to state, with some states not imposing any definite rules on the subject at all. Make sure that the healthcare providers in your adopted state recognize the legitimacy of your POA documentation.

Changes Involving POA Agents

At some point, you may need to revise your estate plan to swap one POA agent for another. This need may develop because the agent you had relied on has died, or may decide that you longer need or want that specific individual to have power of attorney over your estate.

You may either change the terms of your POA agreement or cancel the agreement altogether while you remain sound of mind. If you become unsound of mind before you make this change, however, the court will have to see evidence that your POA has worked against your best interest before dissolving the agreement.

If your life circumstances have changed since you prepared your estate plan, a legal team specializing in estate law can help you get that plan up to date. Contact Donald B. Linsky & Associates PA for a consultation.

5 Things You Should Add to Your Last Will and Testament

websites@hibu.com (Hibu Websites) — Wed, 18 Mar 2020 19:52:00 GMT

Perhaps one of the most important things you can do in life is plan for what happens when you are gone. However, many avoid creating a legal will and testament simply because it is a hard idea to face. According to AARP, only about 4 of 10 people in America have a will. Unfortunately, even those who do make a will tend to forget some pertinent things in the process. If you attempt to make a will without professional guidance, it is easy to leave out information about important property or belongings. Take a look at five things you do not want to forget when you do work with an attorney to create your last will and testament. 1. Out-of-State Assets Society is more mobile than ever. People commonly live in multiple states over the course of a lifetime. If you've lived in several states, make sure you are including property that you own out-of-state in your will. For instance, if you own a piece of vacant land in a state other than where you live, it is easy to forget to include this property in your will if you don’t frequently revisit or think about the land. 2. Debts Owed to You Many people pass away when someone or some entity owes them money; this is not uncommon. However, people neglect to include how this owed debt should be handled in their will and testament. Some people prefer to forgive debts or payments owed upon their death, which is possible. If you prefer the debtor to pay their debts to your estate, a certain heir, or otherwise, you should include this information. 3. Digital Assets Digital assets have grown increasingly common over the last several years with more people relying on technological avenues to house certain possessions. Digital assets can include things like:

Animations
Websites
Audiovisual media
Documents

Even though some of these assets may not hold a lot of monetary value, they can hold personal value. Therefore, if you want them to stay in your family or pass to another beneficiary, you must include them in your will and testament. 4. Your Pets Many homes in the United States own a dog or a cat. Unfortunately, when pet owners pass away without leaving information in their will about who should be the caretaker of the pet, many of these animals end up in shelters or abandoned. In the process of making your will, make sure you name a caretaker for your pet(s) so that they’re always taken care of by someone who loves them. 5. Newly Acquired Assets Many people acquire assets all the way up until their last days. Remember, assets can be tangible property or something else like an online account. You need to periodically update your will and add any new possessions you may have acquired. Experts recommend that you revisit your estate plan , including your will, about every five years. You should also revisit your will if:

Your relationship status changes (e.g. marriage, divorce, death of a spouse, etc.)
You have a child or gain an heir through a relationship change or birth
You gain or lose a major amount of property or wealth

Revisit your will and add any new assets if there is a major change in your health as well. Contact an Attorney for Professional Help Creating a last will and testament could be deemed as one of the most important things you ever do. Make sure your last requests include everything you would want by working with a qualified attorney. Reach out to us at the office of Donald B. Linsky & Associate PA to find out how we can help.

Buying Commercial Real Estate? A Special Purpose Entity Can Help

websites@hibu.com (Hibu Websites) — Tue, 21 Jan 2020 19:00:00 GMT

When buying commercial real estate, an investor takes on unique risks in return for a unique reward. One way that a buyer or lender might mitigate some of those financial risks is to use a special purpose entity. What is a special purpose entity? And why might it be a good choice for your transaction? Here are a few answers. What Is a Special Purpose Entity? A special purpose entity (SPE) is one type of a group of business entities that may be created and used in order to own, protect, and manage a specific asset. An SPE generally can be structured as many types of businesses, including a trust, limited liability company, or corporation. Such an entity would be separate from other businesses you own as well as yourself as an individual. What Benefit Does This Offer the Lender? Many commercial real estate buyers are asked by the lender to form a special purpose (or single purpose) entity. Why does the lender want this? The answer largely comes down to protection in case of bankruptcy. When the property they lend against is owned by an individual or company with other assets and obligations, a bankruptcy filing could affect that property. Its value may be grouped in with other assets for use in satisfying unrelated obligations. Other creditors could also try to come after the property to satisfy their own debts. On the other hand, a property owned by a separate entity is not useful for the debts of a different individual or company. Even if those two entities share the same ownership, they are designed to be legally protected from the actions of one another. This reduces the risk of loss by the lender. What Benefit Does This Offer the Buyer? If the lender wants a SPE in order to boost bankruptcy protection for themselves, what benefit does that you? To begin with, you also get some bankruptcy protection. Separating the property from yourself or your other business endeavors means that you may be able to continue to own it even if you do have to declare bankruptcy for other entities. Forming certain types of business entities is also a good idea to protect yourself from other hazards. Real estate investment can be somewhat risky. If your investment company faces bankruptcy, your personal assets will be separated by many business entity types. If the SPE is sued for damages, such as by an injured tenant, your personal assets are once again protected from seizure. Certain business entities are also conducive to raising new capital. Both an S corporation and a C corporation can sell shares of interest in order to bring new money into the venture without additional debt. Partnerships can split up responsibilities, bring in new money, and add to or reduce ownership. Conversely, an individual has limited options to raise capital — usually only by borrowing from others. Finally, an SPE can streamline both the buying and selling processes. Because the owner is a separate entity — rather than part of a larger business or yourself individually — you will likely have fewer contract complications as well as lending delays. What Should You Know? While an SPE could be the perfect match for your commercial real estate purchase, you shouldn't enter into one with professional assistance. In order to gain the benefits, you need to create a business structure that meets the lender's requirements but also protects your own interests. At Donald B. Linsky & Associate PA , we know real estate law. Let us help you craft the right SPE and ensure that your real estate transaction fits your needs. Call today to make an appointment.

Give the Gift of Estate Planning This Holiday Season

websites@hibu.com (Hibu Websites) — Fri, 20 Dec 2019 21:21:00 GMT

As you contemplate how to show your love for the important people in your life during the holiday season, you may not have considered one gift that too few people give: estate planning.
Most people shy away from estate planning as it reminds them of their own mortality. But estate planning is an essential task that everyone should undertake no matter their age, circumstances, or financial situation. And it's an excellent gift.
How is estate planning a gift that shows your appreciation for your loved ones? Discover just three of the organizations or people who will benefit from this gift.
1. Your Family When a person passes away without having done any end-of-life planning or estate planning, their family is often left with a mess to clean up.
Consider what happens after you pass away. Family members and friends must try to figure out what you would have wanted — in everything from end-of-life medical decisions to funeral plans to the care of your pets. Often, significant conflict among family members happens over money and arrangements. They may end up losing portions of their inheritances to taxes. And they will need access to your money to pay bills. Do you want to save your family the trauma and expense that comes with all these uncertainties? Then prepare a gift that provides a clear path for family members to follow. Planning tools like wills, powers of attorney, and trusts let them know exactly what you want. This includes what your funeral should look like, how to pay for it, where your money should go, or who gets what assets. You can also express your love.
2. Yourself While the holiday season is generally seen as a time to give to others, it should also be a time to treat yourself. And even though planning for your passing doesn't seem like a treat one gives oneself, it actually is. First of all, you will ensure that your own wishes are heard and met if you pass away.
You can also reduce stress. How? Most people are aware that they should plan something in case of an emergency, but many put it off for years or even until it's too late. Get rid of that nagging worry. Give yourself the gift of knowing that you have cared for your responsibilities to your spouse, children, grandchildren, and friends.
3. Charities Everyone has interests and causes that are special to them. Have you donated to particular charities regularly? What about nonprofit organizations like museums, theaters, or zoos? Do you give each year to causes that revolve around a certain interest, such as animal protection or higher education? If so, do you want the opportunity to continue to give with your estate?
If you don't plan ahead for any charitable contributions you want to give, none of those organizations will see any funds after you pass. Your family may not even know to which causes you like to give support. And funds will be divided up quickly in accord with state laws.
In your estate plan, though, you can designate dollar amounts, accounts, or percentages for certain causes to ensure your legacy continues. Even if you have few assets, something like a life insurance policy can provide at least some funds for you to show your generosity to causes you cared about.
Where to Start So, if you think that this is the year for you to give the gift of advance planning, where should you begin? Start by consulting with an experienced estate planning attorney in your area. At Donald B. Linsky & Associate PA , we can help. Call today to make an appointment and start crafting the arrangements you want.

Want to Retire Early? Plan for First and Second Retirements

websites@hibu.com (Hibu Websites) — Tue, 19 Nov 2019 19:50:00 GMT

Do you want to retire early and live the life you've always dreamed of? Then you know that the key to success in this endeavor is advance planning and strategy. One of the most important strategies you can use is the two-step retirement plan. What is a two-step retirement? And how can you prepare for it? Here's what you need to know. Step One: The First Retirement Any time you want to retire before the standard age, you need to plan for a 'first retirement' with different rules. This first retirement could be just a few years or it might be more than a decade depending on your retirement age goal. Why should you think of these years as a 'first retirement'? The answer is due to access and taxation. Most retirement accounts — including 401(k)s and traditional IRAs — penalize a person who takes out money before the designated age. The IRS, for example, may impose an additional 10% tax on IRA withdrawals before age 59 1/2. That's on top of your regular federal and state income tax. In the case of pension plans and Social Security, you may not even be able to get access early — which could be an even bigger obstacle. And you need to plan for a gap between employer-provided health insurance and the age at which you can apply for Medicare. All this means that you will need to find a way to access your money consistently — and without penalty — for the first years of your retirement. Many early retirees use taxable investment accounts to fund these years. But you can save on taxes if you use tax-advantaged investments including tax-exempt (municipal) bonds or U.S. Treasuries. A Roth IRA can help as well since it has no penalty for early access. There are a few other ways to create a first retirement nest egg. Look for work within an organization that allows younger retirees to access their pensions before the traditional ages. Or, store your nest egg in a nontraditional, safe investment vehicle that minimizes taxes. Step Two: The Second Retirement Compared to the first part, the second retirement is much more normal. At this point, you would shift from those early income methods to more traditional retirement accounts as you age into them. Depending on how much you need from it, apply for Social Security any time between the early date for your age bracket and the latest date at which benefits increase. If you have significant other income early on (including leftovers from your first retirement), you may want to hold off on Social Security in order to build up a larger monthly payment and prevent unnecessary taxation of your benefits. If you have a traditional pension and retirement accounts, access these in the best order for tax purposes. If you own a Roth IRA, for example, you have already paid the taxes on this income, so you can use it first with no tax consequences. This allows you to more slowly use tax-deferred accounts like a regular IRA, spreading out the tax impact and keeping your effective rate lower. Where to Get Help Planning for taxation during both your first and second retirements is a challenge. Most average savers don't know the ins and outs of the Internal Revenue Code, after all. So your best chance for success is to work with an experienced tax planning attorney as well as an accountant. They can help you consider all your options, compare your goals, and learn the best ways to deploy your savings. At Donald B Linsky & Associate PA , our tax planning pros are ready to help. Call us for an appointment today and start turning your early retirement dreams into reachable goals.

Should You Form an S Corporation or a C Corporation?

websites@hibu.com (Hibu Websites) — Fri, 25 Oct 2019 17:47:00 GMT

Should You Form an S Corporation or a C Corporation?

As you start your new business, one of the first decisions you will need to put into writing is the business entity you wish to use. Today's entrepreneurs have a variety of choices ranging from sole proprietorships that are legally tied to the business owner to hybrid structures to full-on corporations. For many new people starting out on this road, incorporating their company as a separate entity provides the risk protection they need and still allows full profit potential. But you will need to choose between forming an S corporation and a C corporation. Which is right for you? Here are some ways they are interchangeable and a few important differences. How an S Corporation and C Corporation Are Alike In many ways, these two corporate entities are treated alike. They both offer risk protection that separates the shareholders (partial owners) from the business and limits shareholders' responsibility for corporate debts and obligations. In both structures, you can receive money either from the earnings and profits of the business or as an employee of it. The legal filing responsibilities of both corporations are similar as well. You would need to file incorporation paperwork with state agencies and file additional documentation each year. The structures of management and oversight are also the same, involving directors, a board, and shareholder-elected officers to do the daily managing tasks. How an S Corporation and C Corporation Are Different So, with all these similarities, what are the reasons to choose one type or the other? Basically, these differences fall into two categories: flexibility and taxation. S corporations are more strictly limited by rules. They cannot have more than 100 shareholders , all shareholders must be U.S. citizens (and no C corporations), and they can only have one class of stock. C corporations are not so limited. If you plan to grow your business to a large scale, you may eventually find these limits too restrictive. They may interfere with your ability to raise capital — particularly venture capital — and look for shareholders in creative places. The other primary difference is taxation. C corporations file their own income tax return (Form 1120) annually and pay income taxes. Distributions are generally paid as dividends and are taxed as income of the shareholders who benefit from them. This is known as double taxation, and it can be a drain on small businesses who have only a handful or less of shareholders. S corporations are what is known as a pass-through entity. Like sole proprietorships and limited liability companies, S corps don't pay income tax at the business level. Instead, as with partnerships, profits are distributed to the owners who pay income tax on that personal income. This eliminates double taxation and frees up more money for the corporation to use for growth. A pass-through entity distributes all profits to its ownership, whereas a corporation can keep those profits for future use. If you plan to reinvest much of the profits of your company for the foreseeable future, a C corporation allows you to do this without increasing your personal income taxes. You can still be paid for your work as an employee. What You Should Keep In Mind A C corporation status is the default entity for tax purposes, but you can always change to an S corporation structure at a later date. The business keeps this designation only as long as everyone agrees and it meets the rules. You can also change to a C corporation if you find that the rules would be more beneficial. Whether you're still deciding on the initial business structure or your company may benefit from changing structures, work with a qualified business attorney in your area. At Donald B. Linsky & Associate PA , we can help. Our experienced business legal team can guide you through the choices and help you pick the entity that will bring the most profits and stability. Call today to make an appointment.

Your Responsibilities as an Executor of Your Parent's Will

websites@hibu.com (Hibu Websites) — Tue, 24 Sep 2019 20:20:00 GMT

As parents age, their adult children often take on unexpected roles. One of these roles is as an executor of their estate. The executor is the person that carries out the wishes of the person, or people, that chose them. It is a vital role, and everyone should understand the responsibilities. Discuss the Details Parents and children need to discuss the role of executor. If your parents have a large estate with a lot of beneficiaries, it is important to either be there during the will preparation or meet with the attorney to discuss the details afterward. Even with a small estate, executors should review the will and talk to their parents about the information. An executor needs to know what relatives and other beneficiaries to notify after a parent dies and what types of trusts or other financial matters they may need to manage. Know where your parents keep their original will and all other important documents. Gather a list of contact information of people that need notification. Understand Medical Care Some executors also take on the role of health care power of attorney. A medical directive gives legal permission for the person in this role to make the medical decisions when the parent is unable to do so. Some people also create a living will so their child does not have to make life-or-death decisions for their parents. Your parents should detail in writing their preferences if you agree to become their healthcare power of attorney. Families have fewer disagreements when there is documentation from people about their wishes for home health care and nursing home care, as well as when to stop medical care. Make Funeral Plans Pre-planning of the funeral makes a difficult situation much easier. Children often have no idea if their parents prefer cremation or burial, the size of the funeral they desire, or what they would like for music or other details. Discuss their opinions on organ or body donation, and what church or minister they prefer. The topics in this type of conversation are not easy, but it is easier than arguing with relatives after a loss. Again, it always helps to have their choices in writing. Another possibility is to pre-plan everything with a funeral home and pay for the service upfront. Prepare for Probate If you are the executor of a large estate, the probate process can seem challenging. You must file a request for probate in the county where your parents lived at the time of their death and file the will and death certificate with the court. A hearing will take place to approve your role as executor. After the hearing, notify everyone of the court requirements for the probate proceedings. Inventory the assets of the estate after paying all debts and divide the remaining property as ordered in the will. Complete the process by submitting all information about your actions to the court along with any receipts or other records. The court closes the estate, and your job as executor ends. Simplify the Process A small estate is sometimes able to forgo a lengthy probate process. In Florida, estates of less than $75,000 (excluding certain types of real estate) may qualify for a summary administration. The probate process can finish within a couple of months for these estates. A large estate can dwindle in value after a long health crisis or another unexpected event. If the estate becomes much smaller than when the will preparation took place or is insolvent (has more debts than assets), contact your attorney. Beneficiaries of property from insolvent estates could owe money to creditors for the value of the item they receive. A will written a few years ago may seem current, but financial situations and family dynamics change more than people realize. Take the time to discuss the changes with an attorney to see if your family needs an updated document. At Donald B. Linsky & Associate PA , we help families with all sizes of estates to create wills that protect the assets that matter to them.

How to Prevent Fights Between Adult Children Over an Estate

websites@hibu.com (Hibu Websites) — Tue, 20 Aug 2019 19:13:00 GMT

Many American adults have yet to p erform any type of estate planning. The absence of these types of documents, such as a will, can cause stress for adult children. Legal documents help to guide people after the loss of a loved one. Yet, they do not end the need for communication between pa rents and adult children about end-of-life issues. Discuss More Than Money A decision on how the family will divide the tangible property is important, but you should discuss other topics as well. Parents need to walk their children through what should hap pen during the days after a death. Discuss openly with the family about when property division will take place, who should take the lead on the effort, and what happens to unwanted incidentals. A clear understanding of how to manage the details can help th e siblings work as a team when the time arrives. Know who will handle funeral preparations, notifying friends and family of the death, and turning off the utilities to the home or contacting a realtor. Pre-plan as many arrangements as possible to lessen th e strain and the chance for conflict. Meet as a Group Include every sibling in the discussions each time. Opinions or plans can become miscommunicated when passed between children later. Skype and other video sharing services make it easy to connect even w hen people live in different areas of the country. The meetings should include how the division of possessions will take place and what type of items each child has an interest in keeping. Do not restrict the talk to only the items with a monetary value. M any people treasure keepsakes more than antiques. Know how to divide or give away items like family photographs, old childhood toys, and a favorite family quilt. Hire an Estate Lawyer A professionally prepared estate plan enables people to learn about lega l options like trusts, living wills, and much more. People that meet with a lawyer can also learn if they have adequate life insurance and get help to choose an executor for their estate. Talk to the children after the meeting or bring them along and make certain each has a copy of all documents. Keep Documents Together Invest in a fireproof box and store together bank records, stock information, and titles to all property along with any original estate-related documents. Inform all children of the location of these documents so they do not have to wade through boxes and drawers to seek them out. Discuss any Estate Changes Pass out updated documents if a life circumstance causes a change in the will. Do not try to hide changes because this could lead to mistrust among siblings if only one knows of the change. Never secretl y give items away or go back on promises. Be honest if a medical emergency or investment mistake drains family funds because people may believe a sibling has the money. Honesty is a great way to avoid future conflicts among siblings. Prepare for an Illness Make certain the siblings know how the care of their parents will take place. Many disagreements start when an adult child takes on the responsibility of caring for an aging or dying parent without adequate support from siblings. Avoid this through a clea r discussion of who should take on the caregiver role, and what compensation they will receive for their effort. Look into long-term care insurance policies to avoid draining inheritances. A durable power of attorney allows people to put someone in control of their financial decisions if they become incapacitated. A living will and advance health care directive ensure the family members make the medical decisions the individual preferred. Most legal challenges to wills are unsuccessful for the challenger, b ut that does not mean they do not cause damage. Open and honest communication beforehand can help to prevent conflicts that can hurt your family. At Donald B. Linsky & Associate PA , we can meet with you and your children to develop an estate plan that is c omfortable for everyone. Contact us today.

Your Guide to Medicaid Planning When Married

websites@hibu.com (Hibu Websites) — Fri, 02 Aug 2019 08:09:00 GMT

One concern that you might have as you age is how you're going to pay for nursing home care. As of 2019, the average nursing home costs $8,121 a month. Such a large amount can quickly erode your hard-earned savings. Medicaid steps in and assists with the costs of a nursing home once your income reaches a certain threshold. However, the Medicaid program assumes that you will contribute all your income to long-term care expenses. In reality, you might want to dedicate only a small stipend for the expenses. Families may try to transfer their loved one's assets so that they don't lose their life savings to the costs associated with nursing home care. However, when this is done incorrectly, it can put your loved one's assets at risk and even disqualify them from receiving Medicaid assistance. Medicaid planning requires extensive planning as a single individual, but if you're married, this it even more important to make the right moves. Read on for valuable information to assist with married Medicaid planning. Exact Rules Vary With Each State Medicaid is a program that federal and state governments both fund; this means that the exact rules regarding eligibility and asset limits vary from state to state. Rules also differ if you're married to ensure that the surviving spouse isn't left penniless trying to pay for their spouse's care. Income Limits In Florida, there are different guidelines for your assets and your income. A married individual in Florida can't make more than $2,250 on a monthly basis to qualify for Medicaid. Your income includes regular monthly payments, like Social Security and pension benefits. However, if you're married, you're allowed to transfer a portion of your income to their spouse so that they aren't left impoverished. The exact amount depends on your situation, but the maximum transferable income falls between $2,003 and $3,090. If one spouse doesn't require care in a nursing home, this ensures that they have ample funds to support themselves. Asset Limits There are also laws that limit how many assets you can retain to qualify for Medicaid. These figures vary based on your marital status, whether you're applying for Medicaid as a couple, and the type of assets that you have. Countable assets are included in calculations that determine if an individual possesses too many assets to qualify for Medicaid, while exempt assets do not count. Assets considered countable include items like stocks, bonds, investment accounts, checking accounts, and savings accounts. You can hold up to $2,000 in countable assets if you're single and up to $3,000 in assets if you're married and both spouses want to apply for Medicaid. Home equity and your personal vehicle are considered exempt assets, though they are governed by a few rules. Florida permits you to exclude up to $840,000 in home equity. Equity that exceeds this amount must go towards paying for your nursing home expenses. You're allowed to exempt the equity in your vehicle if it's you only means of transportation. There are no limitations that govern how much vehicle equity you can exempt for your primary vehicle. However, if you own multiple vehicles that are less than seven years old, the values of these vehicles must be included. Vehicles older than seven years old are labeled countable assets if they're considered luxury or classic vehicles. It's possible to convert countable assets into exempt assets in some cases. For example, if your home needs repairs, you can spend some of your savings (a countable asset) to make the necessary renovations (effectively converting it into home equity, an exempt asset.) Consult with an attorney to make sure that your plans won't trigger scrutiny when your spouse applies for Medicaid. Community Spouse Resource Allowance In situation where one spouse doesn't require nursing home care, the spouse can use their Community Spouse Resource Allowance (CSRA) to exempt more countable assets. Florida law currently permits spouses to exempt up to $120,900 without impacting their spouse's ability to qualify for Medicaid. Ready to begin your Medicaid planning? Contact Donald B. Linsky & Associate PA to schedule an appointment.

When a Tenant Leaves Possessions | Donald B. Linsky & Associate PA

Sat, 29 Jun 2019 14:14:00 GMT

Whether you're a landlord who owns commercial properties or residential rentals, sooner or later you'll experience a problem tenant who won't pay. Most of the time, this kind of situation won't end without some sort of legal action on your part — although some tenants do simply disappear in the night. Either way, you may find a lot of the tenant's personal property left behind, from office furniture and factory equipment to electronics, clothes, and piles of junk. As a landlord, you should understand your legal rights and obligations in this situation.
What Happens If the Tenant Was Evicted? If you went through the full process of evicting your tenant, you can usually remove the property he or she left behind at any point after the sheriff has executed the writ of possession. You are under no legal obligation, at that point, to do anything further than place the items on the property line (basically, where the trash goes). But many would advise that you at least attempt to notify the tenant of when that will happen. Notifying the tenant gives him or her the opportunity to retrieve the items and removes the possibility that you'll be accused of stealing their personal items for yourself.
What Happens If the Tenant Abandoned the Rental? The property left behind may look abandoned to you, but without clear communication from the tenant that he or she no longer wants the items, it may not meet the legal definition of abandoned property. That puts you in a difficult spot. You've regained your building, but the tenant's personal property isn't simply yours to claim. The tenant retains ownership until you take the following steps: 1. You must notify your tenant in writing that you have his or her property. Use the last known address you have, and ask for the mail to be forwarded. 2. You must provide an inventory of the property and a basic description of what you have. 3. You may also need to inform the tenant that you reserve the right to charge a reasonable storage fee before returning the property. 4. You must explain where and how the tenant can reclaim the property. If the notice is delivered by hand to the tenant by a sheriff or another party, you have to give the tenant a minimum of 10 days to act. If you send the notice by mail, you need to wait at least 15 days.
What Happens If the Tenant Doesn't Claim the Property?
As frustrating as this may sound, you still aren't the owner of the property that was left behind. In order to legally dispose of it at this point, you have to advertise that the items will be sold at public auction, and then do so. Whatever proceeds you get from the auction are also not yours to keep. You can deduct the cost of your advertisement, any storage fees you paid, and the services of the auctioneer. Whatever is left, belongs entirely to your tenant. If you know where the tenant is, you should deliver the remainder in a check via certified mail or sheriff service. If you can't locate your former tenant, the money has to go to the county treasury for holding.
Is There Help Available for Landlords? Because Florida's laws are so specific regarding this issue — and the exact procedures you have to follow are so complex — many landlords seek help from a real estate attorney when they're faced with the problem of a tenant's seemingly abandoned property. At Donald B. Linsky & Associate PA, our attorneys can help you draft the legal notice that's required to the tenant, make sure that you comply with each step of the law, and don't end up accused of theft or sued over the disposal of any of the property later. Contact us today for help with a tenant’s property.

Common Mistakes You Should Avoid With Estate Planning

websites@hibu.com (Hibu Websites) — Thu, 06 Jun 2019 18:57:00 GMT

Estate planning is often misunderstood. It's not something that only extremely wealthy people need to consider. Having an estate plan is a wise move for everyone. An estate plan not only ensures your possessions will be distributed in a way that you most want, but it can also address your needs and wishes if you ever can't make choices for yourself anymore. An estate plan may also keep transfer taxes down, ensuring that more of your assets go to your loved ones, and it can also help you fulfill charitable giving goals. However, you need to enlist the help of professionals to create an effective estate plan. Make sure you avoid these common mistakes when making your estate plan.

Don't Choose an Executor of Your Estate Out of Obligation Think very carefully before you choose an executor of your estate. Don't make the decision out of an obligation to a family member. Likewise, don't feel pressured into naming someone who you don't think will do a good job with the big responsibilities and privileges that come with being the executor of an estate. Although you may feel social pressure to choose a spouse or parent as the executor of your estate, you don't have to do so. You also don't have to tell your family about your choice beforehand if you don't want to do so. Do your due diligence and be very confident that the executor of your estate is someone worthy of your trust. Don't Leave Money to Minors Without Addressing Guardianship If you leave money to minors as part of your estate plan, you need to also establish who will be in charge of handling the funds until they are legally able to accept responsibility for the money. Never include minors in your estate plan without consulting with your estate planning attorney. Guardianship arrangements need to be specific in the plan. Don't Overlook Planning for Catastrophes An unexpected injury or long-term disability can happen to anyone with no notice. If you don't plan for such a thing, your best interests may not be protected if a terrible situation arises where you are incapacitated. Consider how you would like your children raised if you are unable to be present for the day-to-day goings-on of their lives. Another aspect of planning for the unexpected is addressing how you'd like your finances handled if you are alive but can no longer handle them. You need to think about who you would trust to make healthcare choices for you if you can't do so. All these complex things can be addressed within your estate plan. Don't Assume That Your Work Is Done An estate plan will need to be revisited over time. Don't just make the estate plan and assume your work is done. You may need to update your plan for many reasons, such as:

Having more children
Changes in your assets or liabilities
New significant relationships or the loss of significant relationships
Changes that make your retirement plan outdated
A move to another state

If you’re not sure if your estate plans needs updating, make sure to consult with a professional. They’ll know what warrants a change and what can be left as it is.
Finally, you don't have to do the heavy lifting of estate planning on your own. An estate planning attorney will know the laws of your estate well and can help make sure every aspect of the plan will hold up when the time comes. Contact Donald B Linsky & Associate PA today to learn more about how we can help with all your estate planning needs.

Why Should Your Aging Parent Get a Lawyer?

websites@hibu.com (Hibu Websites) — Tue, 07 May 2019 13:50:00 GMT

As your parent ages, they need assistance on a variety of levels. One of the important ways that you can help ensure their safety, health, and finances is to help them find and work with a lawyer as they need it.

But why should an older family member seek out an attorney? Here are a few situations that make legal help invaluable as a person gets older.

To Prepare a Will

Many Americans fail to properly plan for their own passing, leaving an estate and assets with unclear heirs and legal complications. Both your aging parent and your entire family benefit when a proper will is drawn up. The parent can express their wishes for everything from hard cash to collectibles to the care of their pets.

The process of preparing a will might be relatively simple and require only that a professional write up the legal document naming heirs and assets.

But the process can also be complex. Your parent may not know the actual value of their items. You may need to get some items appraised or valued. If they want to leave anything to minor grandchildren, they may want to set up a trust. Charities might need assessed and charitable giving vehicles decided upon. A lawyer can help with these tasks.

To Protect Assets

If a person needs long-term medical care or aid with daily tasks, the cost can burn through their assets very quickly. Valuable legal strategies can protect your loved one's money, their home, their vehicles, and their insurance before this happens.

If they will eventually draw on Medicaid benefits for long-term care, you and your family should act quickly to seek legal help to maintain their eligibility for this coverage without sacrificing all their resources. It's also important to protect the resources of the person's spouse during this process.

To Name Agents

If your parent is incapacitated from physical illness or mental deterioration, someone else will have to make decisions about their care. Naming this person (or persons) before this actually occurs allows your parent to determine for themselves who they want to make decisions. These decisions could include medical care and treatment, disbursement of their finances, and care of their physical assets.

Work with an elder law expert to legally designate a power of attorney for all decisions or just certain categories of decisions.

To Coordinate Care

If your parent already needs medical care on an ongoing basis — even just for recovery from a major illness or surgery — an attorney can help navigate a system involving medical care, living arrangements, and finances.

You'll want to ensure that they receive good medical treatment, that all the bills are paid, that insurance companies properly cover treatment, that a quality care facility is chosen, and that their home and valuables aren't at risk.

As you and your family focus on the good of your loved one, an attorney can help coordinate the practical aspects. This can be a huge help, particularly if you're the only child of an aging parent.

To Protect Their Rights

Older persons can easily become victims of several different types of crimes, including physical and financial abuse. If you're concerned about your parent's susceptibility to fraudsters, irresponsible family members, or a nursing home staff, get a lawyer on your side.

Elder law specialists help a person understand their rights while under medical care or as a resident of long-term care. They can also help protect their finances from unscrupulous individuals no matter what their situation.

There are many other situations when an elder law attorney may prove beneficial to any family dealing with the issues of an aging parent or grandparent. At Donald B. Linsky & Associate PA , we are here to help your parents and your whole family during this challenging time. Make an appointment today to learn more.

3 Reasons to Consider a Living Trust | Donald P. Linsky and Associate

websites@hibu.com (Hibu Websites) — Sat, 30 Mar 2019 17:14:00 GMT

3 Reasons to Consider a Living Trust

Most people already understand the benefits of a last will and testament, but far fewer understand the uses and purposes of trusts. Trusts aren't just for the very wealthy. They can benefit people in every walk of life by protecting your estate and keeping your loved ones financially secure after your death. If you've never considered a trust before, keep reading: this is the blog for you. Below, we'll explain what a trust is and list the main benefits it could offer you and your family members in the event of your death. 1. You Want to Ensure Your Heirs Inherit Quickly Probate is the legal process your last will and testament goes through after your death where the courts ensure your will is legally viable and carry out its instructions. Unfortunately, probate can take months — or even a year or more — and your loved ones won't be able to access the financial assets you've left them until the will leaves the probate phase. In contrast, inheritors can access funds and other assets you leave them in a trust almost immediately. Trusts also help your heirs avoid costly fees that can accompany probate. Additionally, the probate process makes your will public as it goes through the court system. If you don't want just anyone to see where you've allocated your assets after death, a trust ensures your privacy. 2. You Want to Financially Protect Your Children You've heard of "trust fund kids," but a trust doesn't have to be a large spending pool your kids can dip into any time they want. Instead, a trust for your children holds your assets in a secure fund after you die, and you can secure the conditions of the money's release. For instance, you can stipulate that your children only access the funds in certain situations or at certain ages; they could receive a portion of the trust at age 18 and receive the rest at different ages. Your trust fund can also pay out financial assets to the people you've designated as guardians of your minor children in the event of your death, but the trust can stipulate when the guardians can access those funds and how much while preserving the rest of the funds solely for the children. In particular, if you worry your kids could burn through their inheritance too quickly and not leave themselves enough money to live on when they're older, you can follow the same protocol for adult children as you would with minor children. Doing so could mean only granting them access to a certain portion of the trust throughout their lives. 3. You Want to Reduce the Possibility of Legal Challenges After Your Death Trusts aren't impossible to challenge, but they're much harder for disgruntled beneficiaries to fight in court. If you worry about an inheritance fight after your death, a trust will give you a better chance than a will and testament that your wishes will actually be carried out after your death. Of course, people you've removed from your trust or potential inheritors who disagree with how you've divided your estate could still challenge your trust by claiming you were pressured into making the trust assignations the way you did. Simply creating a trust isn't a guarantee that your family will avoid a legal fight over your wishes, but those legal challenges will be much more difficult for potential heirs to win than with a will. Interested in creating a living trust? Turn to Donald P. Linsky and Associate PA. Reach out to our offices in Tampa and Sun City Center to schedule a consultation.

What You Need to Know About Power of Attorney

websites@hibu.com (Hibu Websites) — Wed, 06 Mar 2019 02:22:00 GMT

Many people choose to draw up a power of attorney as part of their estate plan. However, some may have some questions or concerns about exactly what is allowed once you declare a power of attorney. Whether you need a power of attorney or you are named the agent for a power of attorney for someone else, the following is useful information.

The Signee Must Be Competent to Sign a Power of Attorney
If you have a relative you expect to be responsible for should he or she become incapacitated or incompetent, he or she must declare you the power of attorney before the incapacitation occurs. Competence is a must for executing a legal document, such as a power of attorney.

Unfortunately, if your loved one is no longer competent, he or she is not able to name you power of attorney. The only option in cases such as these is to go through the court system to obtain a guardianship or conservatorship over said person. Once this is complete, you will receive the legal right to handle your loved one's affairs.

You Should Not Rely on Internet Documents to Obtain Power of Attorney
A power of attorney is a legal document that represents the nature of your own specific circumstances. While you can find documents on the internet to create a power of attorney, doing so is not advisable for several reasons.

For one, each state is different regarding rules of powers of attorney. States have different rules. If you use a generic form found online, you may not have an executable document due to missed state regulations. Generic documents are not specific to your needs.

Forms online may also be outdated or even ambiguous in legal terminology. If your power of attorney is not specific, it opens you up to possible legal interjections from others who wish to challenge the document.

A Power of Attorney Is Not a Free for All
One issue preventing many from getting a power of attorney is the fear of the agent mismanaging their financial affairs.

The person who is the agent of a power of attorney has a fiduciary obligation or obligations over your medical affairs. This means the agent is allowed to make decisions for the best interest of the person who named the agent. A power of attorney does not give an agent free reign over someone's estate.

A medical power of attorney allows the agent to make decisions on your healthcare needs once you cannot do on your own.

This does not mean an agent will not try to do something nefarious with an estate. Always choose someone you trust or with the proper business background to be the agent of your power of attorney to ensure your estate is safe.

The Power of Attorney Configuration Makes a Difference
Two types of powers of attorney exist. A general power of attorney allows agents to handle a variety of actions, like the purchase or sale of property. The specialized document will address exactly what the agent is allowed to do on your behalf.

A limited power of attorney is akin to a subset of a regular power of attorney. This allows an agent to have power over a specific area of your estate, such as management to one of your properties.

Once you pass away, the power of attorney is over. The difference between the two is regular power of attorney ends at both death and if you become mentally incapacitated. A durable power of attorney will end at death but not mental incapacitation.

If you have any questions or need assistance with your estate planning, please contact us at Donald B. Linsky & Associate PA.

Conservatorship or Guardianship - Which One Do You Need?

websites@hibu.com (Hibu Websites) — Tue, 12 Feb 2019 02:21:00 GMT

As you deal with aging parents, you enter a whole new arena of elder law and estate planning. During this process, you will be exposed to a wide range of terms that you may not recognize or understand the differences between. For example, while the terms of conservator and guardian may be used interchangeably, they are not one and the same. The differences between the terms could prevent you from being able to perform the required duties when needed. Here is a brief description of each of these.

Guardianship If you are granted guardianship of your parent(s), you will be responsible for making decisions and performing duties that they are unable to do. These decisions or duties could include medical, legal, financial, and managing any other affairs. All forms of guardianship in the state of Florida are appointed and supervised by Probate court the requirements for an incapacitated adult are outlined in Chapter 744 of the Florida Statutes . Involuntary Guardianship Guardianship may be granted on a voluntary as well as an involuntary basis. Involuntary guardianship is granted when a person, such as your parent, is no longer able to handle their affairs. Many times, this may be due to a sudden onset of medical issues or even as the side effects of natural aging. The petition, or request, for involuntary guardianship may be filed with the court by you, a friend, other family members, social worker, or anyone else who is concerned with your parent's welfare. Voluntary Guardianship Voluntary guardianship is often requested by the person who needs guardianship, a family member, or friend. If the request is being made directly by your parent, or the person in need of a guardian, the court may require the person who they will refer to as "the petitioner," to submit medical documentation to ensure that they are competent to make this request. Voluntary guardianship may be required due to age, medical issues, or other physical limitations, but it may also be put into place for a person to make certain decisions during a limited time period. This petition is often done in advance of services being needed. Guardianship may be limited to only certain duties at the request of the petitioner or may be plenary, which will allow the guardian to exercise authority over all duties. Both voluntary and involuntary guardianship usually require an annual report to the court for the purposes of oversight. They both can be changed at any point by filing a new petition with the court. Conservatorship A conservator is also a court-appointed position. Whereas a guardian is able to handle any day-to-day needs or decisions of the person they have been granted guardianship over, a conservator is primarily responsible for the financial affairs of the person who is incapacitated or who is considered to be an absentee. The rights and duties of a conservatorship are outlined in Florida Statutes Chapter 747 . A conservator's duties may include paying bills, investing and managing accounts, and managing real estate or rental properties. Any other duties, such as making medical or legal decisions, would not be within the realm of a conservator. These duties or decisions would need to be executed by someone who has been appointed guardian or under a durable power of attorney. In order to file a petition for conservatorship, the person filing must have some type of interest in the estate or property of the person they would serve as conservator for. This usually will include their spouse, parent, adult child, or sibling. Elder law terminology can be very confusing, but you are not alone. Fortunately, Donald B. Linsky & Associate PA can assist you with all your elder law and estate needs. We will be glad to assist you in obtaining any necessary appointments that you may require. Give us a call today so we can get started.

Create a Living Will | Donald B. Linsky & Associates PA

websites@hibu.com (Hibu Websites) — Tue, 22 Jan 2019 05:49:00 GMT

While you may have created a will determining which of your loved ones will receive your belongings and assets when you pass away, you might not yet have put together a living will. A living will is actually quite different.

Living wills pertain to decisions regarding medical care. Should you become terminally ill or be in a vegetative state under which you are not able to communicate your needs and desires, what would you like to be done for you? Would you like the hospital to perform life-prolonging procedures? These are questions you must answer for yourself.

Many people employ the services of an estate lawyer in writing a living will, considering that the questions involved are difficult and sensitive. Read these tips to understand some of the dos and don'ts of writing a living will.

Do Consider a Variety of Options

When you write your living will, do not stick with just one scenario. Be as thorough as possible. For instance, do you want a doctor to perform CPR or fibrillation on you? Are you okay with breathing tubes? Do you want dialysis? What about painkillers? Explore many options to ensure your needs are met.

Do Appoint a Health Care Power of Attorney

The person to whom you grant power of attorney makes decisions linked to health care for you if you are unable to make such decisions and the issues are not detailed in your living will. You might also hear this person referred to as a health care proxy.

Don't Avoid Discussing Your Desires

Even if you have a living will in place, you should discuss with loved ones your desires for the future. You should also discuss your living will with your regular physicians, perhaps giving them copies as well.

When you discuss your wishes with your family, they will be less likely to argue about something they don't agree with in the future. If everybody is on the same page, they will feel more comfortable following your wishes.

It is very easy to avoid discussing unpleasant topics, like death or medical concerns, with those you love most. Still, doing so is important for your own comfort and healthcare needs.

Do Give Copies to Family Members

Again, giving copies of your will to family members ensures everybody is on the same page. Nobody is surprised by your wishes, and everybody has the opportunity to ask questions about what you may want.

Don't Choose Just Anybody for Power of Attorney

The person to whom you grant power of attorney should not be your physician or your bank. Some states prohibit these actions, but they are also just not good ideas. Instead, you should nominate somebody who knows you very well and wants to do what is best for you.

Additionally, you should consider listing an alternative individual in case your chosen one is unable or unwilling to make decisions.

Don't Wait Until You Have Health Problems

You do not need to be elderly or have health problems to write a living will. In fact, anybody can benefit from establishing desires and wishes for their health care.

Do Hire a Lawyer You Trust

Choose an attorney you trust to put together these pertinent documents. Lawyers ensure you have included every scenario necessary, especially those you might not want to think about.

Lawyers are also helpful because they can modify your orders should they change. Your lawyer will always have the most recent copy of your living will, meaning there is no dispute about what is happening. You may wish to modify your orders if you receive a new diagnosis, change your marital status, or change your mind about certain health care issues

Are you looking for an attorney to help you with your probate and estate issues? Call Donald B. Linsky & Associates PA today to learn more about setting up a living will.

New Landlord? What to Know If You Purchase an Occupied Rental Home

websites@hibu.com (Hibu Websites) — Wed, 02 Jan 2019 16:08:00 GMT

If you intend to purchase a home as a rental property, you need to take several things into consideration. One thing to think about are your responsibilities to a tenant currently livening in the home if you buy from another landlord. Tenants have rights, and you need to understand them before you move into your purchase. Here are some things you need to think about. Rights of the Tenants One thing you should know is tenants' rights do not change just because there is a change in the home's ownership. The lease the tenants have currently has to remain in place even after you take ownership of the home. Once you close, you may not increase the rent, change the clauses, or have the tenant leave before their lease is up. If you want the tenants to leave, you have some options. One option is to put the burden of removing the tenants on the current owner by only closing with the contingency that the house will be vacant. If the seller will not do this, you could try to renegotiate the terms of the lease with the tenants or offer to buy them out of the lease. Keep in mind, however, the tenant does not have to agree to these terms as long as the lease is valid. You also are at risk of a lawsuit if you try to force tenants out prior to their lease expiration. Obligations of a Landlord Once you own a rental home, you have certain obligations as a landlord. The most important job you have is to ensure the home is safe and habitable for the tenants. At a minimum, you must make sure to keep the floors, stairs and hallways in good condition. All structural elements of the home, including the roof, are fully intact. The electrical and plumbing system should also be in good working order and up to code. Homes need to have a heating and cooling source and good ventilation. A rental home also must have clean running water and a functional water heater to ensure the home has access to hot water. Landlords must also deal with any infestations or rodent problems in the home and be sure there is no risk for asbestos and lead paint poisoning. Types of Lease Changes The type of lease the tenant has in place when you take ownership will depend on how or when you can make any changes. If the tenant has a month-to-month tenancy, you only have to provide a one month notice to the tenant to either vacate the property or make changes to the lease for the months to come. If the lease is a fixed-term lease, in which a tenant has a set amount of time before he or she has to leave or endure changes to the terms, the tenant has the right to stay in the home under the current terms. You then may either opt to not renew the lease or change the lease to your terms. The tenant then has the option to either leave the home or sign a new lease with you agreeing to your terms. Some leases, however, may contain language which states that the seller of the home has the right to change or terminate the lease if the home is sold. If this happens, you as the new landlord will not have a lease with the current tenants. As a new landlord, you must familiarize yourself with landlord and tenant laws. Having an estate attorney on your side will help prevent any legal slip-ups. If you need assistance as a new landlord, please contact Donald B Linsky & Associate .