Estate Planning Leigh Cowden Estate Planning Leigh Cowden

Pros and Cons of a Florida Ladybird Deed

A Florida Ladybird Deed, also known as an Enhanced Life Estate Deed, is an increasingly popular legal instrument used in estate planning. This type of deed allows property owner(s) to retain control over their homestead property without losing the homestead or tax benefits, while also designating beneficiaries who will inherit it upon their passing. Like any legal tool, there are advantages and disadvantages associated with the use of a Florida Ladybird Deed. In this article, we’ll explore the pros and cons of this estate planning option.

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Estate Planning Leigh Cowden Estate Planning Leigh Cowden

The Dangers of DIY Estate Planning

I’ve had several new clients come to my office with legal documents they downloaded off the Internet, or legal documents they paid some online service for (Legal Zoom, etc.) that created huge, expensive problems for them, or could have caused problems for them if they hadn’t taken these documents to an attorney for review before they passed away.

The problem with Internet legal advice is that sometimes things that look like perfectly good facts are actually just data picked up and presented either by some artificial intelligence bot or a person who is not licensed to practice law in that state. That information is often, at best, erroneous, and at worst, downright wrong.

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Estate Planning Leigh Cowden Estate Planning Leigh Cowden

Are Transfer on Death (TOD) Deeds Valid in Tennessee?

In short, no. But that doesn’t mean a person has to go through the full probate process in order to inherit real property in Tennessee.

If someone dies and the only thing they own is real estate and some personal possessions, meaning they have no bank accounts, stocks or bonds, retirement accounts, or other similar assets, a beneficiary can claim title to the real estate in a very simple proceeding versus a full probate process.

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Elder Law, Estate Planning Leigh Cowden Elder Law, Estate Planning Leigh Cowden

How to Protect Assets from a Medicaid-Required Spend-Down

Many people rightly worry about what happens if they have to go into a nursing home and they don’t have long-term care insurance. They’ve heard stories about people who had to spend down their entire nest egg before they could qualify for any government benefits. The stories are true, and it happens all the time, but it’s not your only option.

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Estate Planning Leigh Cowden Estate Planning Leigh Cowden

The 2023 Estate Tax Threshold Announced by the IRS

Federal Estate Tax is owed on a person’s gross estate over and above the exempted amount. I remember back in the day, in the early 2000s, when that limit was only $675.000. Over the years it has gone up, and then in 2010 or so, it jumped up quite a bit and then again in 2018. In 2022, it stands at $12.06 per person or $24.12 for a married couple.

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