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

Steps to take after a car accident

A car accident can happen on a Florida road in the blink of an eye, and in most cases, drivers have little or no time to prepare for one. However, there are a few steps that motorists might find it advisable to take in the immediate aftermath, especially if they were not at fault for the collision.

Keeping the family informed while planning an estate

Open communication can be one of the most important steps for Florida families when preparing an estate plan. Vehicles like certain types of trusts, life insurance investments and family limited partnerships can be important mechanisms for wealth transfer across generations.

Protection offered by IRA trusts

Florida residents who are creating an estate plan may want to consider an IRA trust for their retirement account. These types of trust have become more popular since 2014 when the Supreme Court ruled that inherited IRAs were not protected from creditors. However, there may other reasons to use an IRA trust as well. It can also prevent beneficiaries from irresponsibly spending money that they come into suddenly. Although rules differ for workplace retirement plans, an IRA trust can also be the beneficiary on those plans. Beneficiary designations on retirement accounts should be current since these override other instructions.

Tips for creating an estate plan

An estate plan is important for all Florida adults even if they do not have a large amount of assets. It can be important to family and loved ones who will be saved the stress of dealing with these details. An estate plan can also be used to help reduce family conflict. These may be over a particular piece of property, or they might be long-standing resentments around family dynamics. An estate planner may be able to assist a client in anticipating those conflicts and putting provisions in the estate plan that address them.

Same-sex partner estate planning

While it benefits all Florida couples to have an estate plan prepared, there are a few reasons it is especially important for same-sex couples. For example, same-sex partners might need powers of attorney in addition to wills so that a partner can act on one's behalf if necessary.

IIHS study looks at driver fatality data

Florida motorists may be able to identify some safer vehicles by looking at a study by the Insurance Institute for Highway Safety that examined driver fatality rates in different types of vehicles. The IIHS looked at data for vehicle models from 2011 to 2015 and found that the average driver fatality rate in all vehicles per million vehicle registrations was 30. At 39 fatalities per million, passenger cars had the highest death rates for drivers. Pickups, SUVs and minivans were all safer with rates of of 26, 21 and 19 respectively.

VanNess & VanNess, P.A.