Mon 19th Nov, 2018 | Blog by Michael Michetti
Recently, legendary singer Aretha Franklin passed away; unfortunately, she did not have a Last Will & Testament. Passing away without a Will opens up the private performer’s estate to public awareness and unnecessary costs. Franklin, who died in Michigan at age 76, left behind four sons, but no guidance on how to distribute her estimated $80 million estate. The eldest son, Clarence, age 63, has unspecified special needs and requires financial and other forms of …
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Mon 19th Nov, 2018 | Blog by Michael Michetti
One of the benefits of owning a primary residence in Florida is a Florida Constitutional right of Homestead. In addition to homesteaded property being protected from certain judgement creditors, owners of homestead property are eligible to apply for a Homestead Exemption on their property taxes. This exemption essentially provides the owner with a reduction of up to $50,000.00 on the assessed value of their primary residence, thus lowering their property taxes. A lesser known benefit …
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Mon 7th Aug, 2017 | Blog by Michael Michetti
When a family creates an estate plan, their primary goals are often to make sure their assets are received by their loved ones and that a probate administration is not needed. Most individuals also want to retain full control of their assets during their lifetime. An enhanced life estate deed is a useful and rather simple estate planning tool. An enhanced life estate deed is commonly referred to as a “Lady Bird deed,” and …
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Mon 7th Aug, 2017 | Blog by Michael Michetti
Avoid Misinterpretations in Written Contracts (part 2 of 2) By: Rachel Kerlek, Esq. In Part 1 of this article, we discussed the importance of businesses having written agreements to govern their relationships. A well-written agreement allows the parties to eliminate doubt regarding their rights and obligations, and provides a road map to help predict how a dispute may end. However, if parties are not careful, those agreements can act as a double-edged sword. This article …
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