Can a Landlord Change the Terms of a Lease Before Its Renewal?
Video Summary
Can a landlord change the terms of a lease before it’s renewed? No, a landlord cannot. It’s a contract and both parties are bound by the terms of the lease, so it would take both parties to the lease to change its terms, so the answer is no. If you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate, Videos
How Does President Biden’s “American Families Plan” Effect Your Estate Plan?
Video Summary
How does President Biden’s American family’s plan affect your estate plan? It does not because the American family plan if passed will make the child dependency tax credit permanent. It is a tax credit and therefore will not affect your estate plan. It affects your income taxes. You can call me, although I’m not, don’t give out tax advice. My phone number is (727) 847-2288.
- Published in Estate Planning, Videos
What is a Probate Dispute Defined As?
Video Summary
What is a probate dispute defined as? It’s usually a Will contest where someone contests the validity of a Will. It can also involve the payment of creditor’s claims, the inventory, the administration of the estate by the personal representative. So, it is whenever there’s litigation involved as far as the administration of the decedent’s estate. If you have any questions, give me a call at (727) 847-2288.
Is It Hard to Overturn a Will in Florida?
Video Summary
Is it hard to overturn a Will in Florida? The simple answer is yes. You have two primary grounds for overturning A Will is one is that the person was incompetent at the time they signed the Will. This is a very difficult case to prove since you have to show at the time they signed the Will, they were incompetent, not before or not after, and particularly if it was signed in a lawyer’s office. The lawyer is going to be the primary witness and so that’s very difficult to prove. The other basis for overturning a Will is undue influence where you have to prove that someone unduly influenced or influenced the person who made the Will to make it and exclude you from it or change the provisions of the Will a previous Will. So yes, it is difficult and expensive. If you have any questions, give me a call at (727) 847-2288.
Are There Any Tax Implications When an Estate Is Settled?
Video Summary
Are there any tax implications when an estate is settled? The number one, is Florida has done away with estate taxes, and the federal government has raised the federal estate tax limitation in 2024 to above $13 million. So, there’s no estate tax implications in most estates in Florida. The personal representative is charged with filing a tax return for the estate for any income that it received. And so, the tax implications are, is that you deduct the administration costs from the income of the estate, and if there’s any income that’s been distributed out to the beneficiaries, they’ll receive K one and must pay income tax on it. One of the big benefits of inheriting property, however, is you get what they call a step up in basis and the property. If you inherit property or stock, and that you take the asset at the date of death value. And so, if the date of death value is a hundred thousand dollars and you later sell it for a hundred thousand dollars, you don’t have to recognize any gain. You don’t have to go back and determine how much the decedent paid for the property. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Taxes, Videos