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IIHS report blames improving economy for crash fatality increase

Florida roads have become more dangerous even with technological safety features in new vehicles, according to a study. The Insurance Institute for Highway Safety looked at the accident records of the various cars, pickup trucks and SUVs sold in the United States, and the nonprofit organization found that road fatalities are increasing around the country even among the drivers of newer vehicles equipped with sophisticated crash avoidance systems.

Majority of business owners forego estate planning

Business owners in Florida may be leaving themselves and their families at risk due to a lack of basic estate planning. A survey by Bloomwell showed that a sizable number of entrepreneurs had not prepared one or more of the critical documents needed for an orderly succession plan. Owners are often careful to consider what can go wrong when it comes to regional markets, supply lines and the customer base, but what happens when the primary decision maker is unable to lead the company for some reason?

Crash data shows that lower speed limits save lives

The state of Florida has set speed limits at 70 mph on interstates, 65 mph on rural divided highways with four lanes and 60 mph on other state highways. While frantic commuters and long-distance truck drivers may approve of these measures, most road safety groups would prefer speed limits to be set lower. The Insurance Institute for Highway Safety studied the impact that rising speed limits have had on traffic accident fatality rates over the last 20 years, and the nonprofit group concluded that road deaths increase by 4 percent for every 5 mph that these limits are increased.

Duties of the trustee for an ILIT

Taxes can eat up a chunk of an estate before any distribution of assets to beneficiaries. Florida residents looking to ensure their beneficiaries receive all or most of the assets left to them will want to consider the many trust vehicles. These have typically been designed for the purposes of protecting the decedent's wishes and protecting the estate from legal challenges. However, each type has certain requirements. A most important need in setting up an irrevocable life insurance trust is ensuring a responsible trustee understands the responsibilities.

IIHS testing reveals safety flaw in Tesla Model S

Florida residents have likely heard about the impressive safety features fitted to Tesla's range-topping Model S. The luxury sedan has been called the safest car to ever go on sale in the United States, but it failed to impress testers from the Insurance Institute for Highway Safety when it was put through its paces in a series of grueling accident simulations. The IIHS evaluated six full-sized sedans, and the Tesla Model S was one of three that failed to earn a coveted place on the nonprofit organization's safest cars list.

Why unmarried partners might need estate plans

There are a number of reasons that unmarried couples living together in Florida might want to create an estate plan. Without the proper documents in place, if one person is injured or ill and becomes incapacitated, the other partner is not legally entitled to make medical decisions. If one person dies, the other partner may not be entitled to any of the couple's shared possessions because if there is no estate plan, the state distributes assets to the next of kin.

VanNess & VanNess, P.A.