Author Archive | Oakstone Law PL

Short-Form Ancillary Administration in Florida: What Is It & What Are The Requirements?

Short-Form AncillaryThere are a number of forms of ancillary administration in Florida and we will discuss each one throughout our blog posts.  However, there is one in particular that not too many know about and that one is called a Short-Form Ancillary Administration.

There are a number of rules and requirements to use this type of proceeding, so keep reading.

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Power of Attorney: What Is It and Who Should You Appoint As Your Agent

If you become unable to take care of your needs, do you have a power of attorney in place so that someone else can?

Power of Attorney

What is a power of attorney?

It is a legal document that allows the person or persons of your choice to act on your behalf in the event you are sick or injured. This person will be called an agent or attorney-in-fact (though that doesn’t mean they are, in fact, an attorney!).

You can choose a family member, friend, or even a neighbor, as long as the person is at least 18 years old, and trustworthy. A “durable” power of attorney will remain in effect even after you become mentally incapacitated, where a “non-durable” one will not. So in most cases, you’ll want the durable variety because that’s when a power of attorney is most helpful for your family – when you are no longer capable of financial decision making.  Continue Reading →

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Delegation Not Dereliction of (Trustee) Duties

Part 3 of the 3-Part CapitalRock-Oakstone Webinar Trust & Estate Planning Series

CapitalRock Investments and Oakstone Law recently collaborated on a 3-part webinar series examining various aspects of trusts with respect to estate trust-estate-planning-webinar-seriesplanning. The topics are as follows:

  1. Do You Hate Your Trust Now? This session explored various tools and alternatives for dealing with a trust that may no longer be meeting your estate planning goals.
  2. Ways to Lighten the Trustee Burden. This session explored the trustee’s numerous duties, the tensions those duties can cause among trust beneficiaries, and how to arm your trustee with the tools to avoid conflicts.
  3. Delegation Not Dereliction of (Trustee) Duties. This session explored the various ways a trustee can build a team to help ensure your trust has all the necessary expertise AND help reduce liability exposure.


(If you can’t see the video, click on Continue Reading to go to it.)

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Proposed Federal Budget Would Hit Estate Plans Hard

President Obama’s Proposed Budget Causes Estate Planning Stirestate planning tax changes

President Obama’s administration recently released his budget for the fiscal year ending December 30, 2015.  If some or all of the provisions dealing with estates become law, there may be quite a bit of estate plan shuffling in the coming years. Below is a summary of the items related to estate, gift and generation-skipping transfer (GST) taxes:

  1. Exemptions and rates take the time machine back to 2009:

Estate, gift and GST transfer tax exemptions and rates would return to 2009 levels – a $3.5M exemption and a 45% rate. Importantly, the gift tax exemption would only be $1M.  No indexing for inflation. (No gift or estate tax would be imposed for gifts over those amounts since then, while exemptions were higher.)

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Oakstone Law
1415 Panther Lane, Suite 439
Naples, Florida 34109
Tel: 239.206.3454