All Living Trusts and Estate Plans should be reviewed in light of President Trump’s new tax laws. The increase in the exemption to $11.2 million per person will simplify estate planning in the future. Complicated tax planning, filing tax returns and accountings for credit shelter trusts should be eliminated and brought up to date to reflect the new tax laws.

Many people put off developing an estate plan until it is too late. Seven out of 10 Florida residents die without a valid will. In the event of incapacity, your family may be forced to pursue a guardianship which is expensive and time-consuming. Without an appropriate plan in place, one's assets will be subject to probate and vulnerable to taxes and fees that can diminish their estate's value. Likewise, unplanned estates often lead to bitter infighting among family members and other beneficiaries which is costly and usually contrary to the client's wishes.

At the Law Offices of Craig Donoff, P.A., we encourage everyone to remember that setting up living trusts and other estate planning tools in the present is the best way to avoid family disputes in the future. We offer free 45-minute consultations to prospective clients during which we will answer all of your questions and inform you of your options regarding your unique family situation.

Planning an estate isn't easy. We're here to help.