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Leonard Mondschein
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Planning for Married Couples - With the increase of the applicable exclusion amount to $5.43 million in 2015, and the enactment of portability, on the surface it appears reasonable to abandon the traditional marital/credit shelter trust design. However, there are pros and cons. Read article here http://miamieldercarelawyers.com/blog/planning-for-married-couples-part-5-flexibility-in-plan/
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Have you built flexibility into your estate plan? The most flexible trusts include the “Disclaimer Funded Credit Shelter Trust” and the “Clayton Trust.” Here’s a discussion describing these trusts http://miamieldercarelawyers.com/blog/planning-for-married-couples-part-4-flexibility-in-plan
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Will your assets pass to your spouse if you pass? In the past, this decision was usually made at the time the will or trust was drafted. However, with the advent of “portability” and the creative use of formula clauses, a final decision can be postponed. Learn more here http://miamieldercarelawyers.com/blog/planning-for-married-couples-part-3-flexibility-in-plan/
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Concerned about asset protection? For married couples, non reciprocal inter vivos QTIP trusts may be considered. Using this planning technique, each spouse creates and funds an inter vivos QTIP trust for the benefit of the other spouse. Read full article here http://miamieldercarelawyers.com/blog/planning-for-married-couples-part-2-asset-protection/
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In Florida, holding property as tenants by the entireties can be a quick and effective means of asset protection for a married couple, however there are some downsides. Learn more about asset protection strategies here http://miamieldercarelawyers.com/blog/planning-for-married-couples-part-1-asset-protection/
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Have you kept up to date with changes in estate planning? Keep yourself informed! Here’s an introduction to “Planning for Married Couples,” a six part series. http://miamieldercarelawyers.com/blog/planning-for-married-couples-introduction/
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