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Under state law, these four conditions must be met in order for a Florida will to be considered legally valid: The will maker or testator must be at least 18 years old. The willmaker must be of ...
Estate planning may involve a will, trusts, beneficiary designations, powers of appointment, property ownership (for example, joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney (specifically a durable financial power of attorney and a durable medical power of attorney).
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
The National Elder Law Foundation was created out of concern that the elderly might have unique legal needs. [15] The 2006 reauthorization of the Older Americans Act included a project called Choices for Independence, to develop consumer-directed community-based (as opposed to congregate segregated choices such as traditional nursing homes ...
Aging experts unveiled a grim outlook for aging seniors who increasingly are impoverished and dependent on government help to get by. And in South Florida, they say the numbers are reaching more ...
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