VanNess & VanNess, P.A.

August 2018 Archives

Driving safely around school buses and heavy traffic

Florida residents are probably aware of the challenges they face on the road when school starts. School zones force them to slow down. They see more children darting out onto the street, and they find themselves sharing the road with school buses. Safe driving is a priority at all times, but especially during the school season.

Legacy planning can preserve wealth for the future

People in Florida thinking about the future may want to consider how they can improve their existing estate plan in order to protect generational wealth. There are a number of key documents that everyone should have in place, such as wills, health care proxies, advanced medical directives of living wills, revocable living trusts and other items. People can create an irrevocable trust to receive the proceeds of their life insurance policies in order to protect the beneficiaries of the policies from creditors or additional taxes. In addition, trusts can be an important way to handle transition in the family business.

Estate planning complicated by cryptocurrency, digital assets

The number of people in Florida who own digital assets is increasing rapidly, and so is the impact of such assets on estate planning. For people who own cryptocurrency or online contact lists, the question of whether and how to include these things in an estate plan can be difficult to answer. The most important step is to make sure the executor or other decision-maker has all the information necessary to properly distribute assets, be they digital or physical.

Car crash risk goes up for teens once they are licensed

The National Institutes for Health reports that car crashes are the leading cause of death among 14- to 19-year-olds. Another study by the NIH, which was conducted with Virginia Tech University, should be of interest to teen drivers in Florida because it has found out when the risk for crashes and near-misses reaches a particularly high point.

How to account for the cost of Alzheimer's

There are currently 5.7 million Americans who have Alzheimer's disease, and lifetime care costs for someone who has it are well over $300,000 on average. As an increasing portion of the population turns 65 or older, the number of people who experience this condition will grow as well. Florida residents who find out that a family member has been diagnosed with Alzheimer's should review that person's estate plan.

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