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VanNess & VanNess, P.A.
Toll Free: 866-697-6221 Local: 352-436-4333 Over 100 years of combined experience

Creating an estate plan that is fair to adult children

Some Florida parents may feel that, when they die, their assets should be distributed equally regardless of their children's circumstances. Others think that they should set up their estate plan so that the child who has the greatest need gets the bulk of the estate. Either approach could lead to family conflict and resentment from heirs.

Understanding an ethical will

There are many estate planning tools individuals can use to make sure that their assets are handled properly after their death. Florida residents who want to bequeath more than just their assets to a loved one may be interested in learning about an ethical will.

Police link social media app with crashes

A 38-year-old Florida woman lost her life on Oct. 26 along with her 9-year-old son and 10-year-old daughter. The family were killed when the minivan they were traveling in was struck head-on by a car traveling at high speed on Martin Luther King Boulevard in Tampa. The 22-year-old man behind the wheel of the car and his 19-year-old passenger were also killed in the crash. While fatal accidents caused by excessive speed are not uncommon, police say that a popular social media application may have played a role in this collision.

Estate planning in a blended family

People in blended families in Florida should make sure that their estate plan is up to date. For example, an individual should periodically check beneficiary designations listed on retirement accounts, life insurance and any other assets that use them. Beneficiary designations override the instructions in a will, so if the beneficiary listed is a former spouse, the assets may go to them instead of to the person's current spouse.

Lack of sleep may lead to car accidents in Florida

A study from the AAA Foundation for Traffic Safety indicates that a few hours of sleep can greatly increase or decrease the risk of someone ending up in a car accident. Using data from the National Highway Traffic Safety Administration's National Motor Vehicle Crash Causation Survey, the foundation discovered that motorists should have at least seven hours of sleep to be able to safely operate a vehicle.

Estate planning for the wealthiest generation

Baby boomers in Florida and throughout the country are the wealthiest generation in the country's history, and until the millennials, they were also the most populous. As they age, they are preparing to deal with an estimated total of $30 trillion in assets. However, caution must be taken to ensure that they do not spend those assets on long-term care.

VanNess & VanNess, P.A.