Dec 162011
 
End Of The Year Estate Planning - Taxes

As the end of 2011 draws near, we find it helpful to take one last opportunity to mention some important estate planning measures that should be reviewed at least annually. There are numerous tax planning opportunities that should be considered before the year ends.  For example, everyone is generally entitled to make an annual gift of up to $13,000 per individual (or $26,000 per couple) without incurring any gift tax.  Making annual exclusion gifts is a great way to thin out an estate while ensuring that the proper beneficiaries receive assets during the lifetime of the grantor.  The simplest way More…

Sep 082011
 
Protection Of Annuities In Florida

Under Florida Statute § 222.14, the proceeds of an annuity contract issued to a Florida resident are not subject to attachment, garnishment or other legal process in favor of any creditor of the annuity beneficiary unless the annuity contract was established for the benefit of such creditor.  This means that Florida offers broad creditor protection for the beneficiary of an annuity. Traditionally, an annuity is an financial product issued by a financial institution that entitles the purchasers of the annuity to a series of periodic payments.  However, an annuity should not have to follow this exact format in order to More…