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The post Differences Between a Living Trust and a Will in Florida appeared first on SmartReads by SmartAsset. A last will and testament is a basic building block for establishing an estate plan.
Consider a revocable living trust: Florida’s probate process can be time-consuming, so many individuals choose to place their assets in a revocable living trust. A trust allows your assets to ...
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The elected Property Appraisers of Florida's 67 counties are the state constitutional officers responsible for maintaining the integrity of the homestead tax exemption program. No one in Florida "automatically" obtains a homestead exemption. Instead, a homeowner on title (or the beneficiary of a trust, a person legally or naturally dependent ...
An ABLE account, also known as a 529 ABLE or 529A account, is a state-run savings program for eligible people with disabilities in the United States. Rules governing ABLE accounts are codified in Internal Revenue Code section 529A, which was enacted by the Achieving a Better Life Experience (ABLE) Act in 2014.
This gives the creator added security in that it keeps the assets one step removed from the trustee of the asset protection trust. Because the managers and members of a Nevis LLC are not public information, the creator of the trust is able to assume control over the assets without disclosing his control on any public records.
The Florida Hurricane Catastrophe Fund (FHCF) was created in 1993 in response to the Florida property insurance crisis resulting from Hurricane Andrew. The purpose for this state tax-exempt trust fund was to encourage additional insurance capacity in the state by providing a stable and ongoing source of reimbursement to insurers for a portion ...
The cestui que is the person for whose benefit (use) the trust is created. Any such person is, unless restricted by the trust instrument, fully entitled to the equitable interests such as annual rents/produce/interest, as opposed to the legal ones such as any capital gain, of the property forming the trust assets. [1]