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When you think of a guardian and ward, the highly unusual relationship between the fictional Little Orphan Annie and Daddy Warbucks may spring to mind. But guardianships are far more frequent and more mundane than you might think. Guardianship can also apply to adults who are no longer capable of managing their affairs. Florida law allows for both voluntary and involuntary guardianship. A voluntary guardianship might happen if someone if fully competent mentally, but cannot manage their affairs, and voluntarily petitions the court for a guardian of their choice. On this page, we’ll discuss the details of guardianship in Florida, including the process of petitioning the court, who may serve as a guardian, the incapacity evaluation, and a guardian’s duties and accountability. What is Guardianship? A  guardianship  is a legal proceeding in which a court appoints a guardian to oversee and exercise the legal rights of an incapacitated person. Under Florida law, someone is incapacitated if a court finds by clear and convincing evidence that they can’t care for their own needs. If someone can’t make decisions about their health, wellbeing, or property, or if they are a minor, a court can appoint a guardian. A guardian is an individual or institution, like a bank trust department or nonprofit corporation, appointed by the court to care for the incapacitated person, or ward, as well as the ward’s assets. How Does Guardianship Work? Any adult can file a petition with the court in Florida to determine if another person is incapacitated, setting forth the facts upon which they believe that someone is incapacitated. 1. Capacity Evaluation The court will then appoint a committee of three members. Two members are usually physicians, and the third is someone who can form an expert opinion by skill, knowledge, training, or education. One of the three members must have experience with the type of incapacity alleged in the court filing. The incapacitated person will generally undergo a physical exam, a mental health exam, and a functional assessment. Each person on the committee will then submit a report to the court. 2. Court Determination of Capacity The court will also appoint an attorney to represent the allegedly incapacitated person, although they may substitute their attorney. If a majority of the committee members determine that the individual is fully capable of caring for their own needs, the court must dismiss the petition. If the examining committee members determine that the individual is incapable of exercising certain rights, the court will set a hearing to determine whether the individual is wholly or partially incapacitated. If the court finds the individual incapacitated in any way, the court will appoint a guardian. If there are less restrictive alternatives to guardianship that can address the individual’s incapacity, the court will consider those options and create a limited guardianship. The court will appoint a guardian with plenary powers if it is necessary to appoint a guardian to exercise all legal rights and powers for a ward. 3. Guardian’s Duties A guardian can perform those specific duties determined by the court. Duties may include inventorying the ward’s property, investing it wisely, and using it for the ward’s support. A guardian may also be in charge of a ward’s personal care, mental health care, and medical care. The guardian must file detailed annual financial reports as well as a yearly plan for the ward’s care, including a physician’s report. The guardian is held accountable for the care of the ward and the ward’s assets. A guardian typically must furnish a bond and be represented by an “attorney of record.” If the guardian fails to perform their duties adequately or fails to file the necessary reports, the court may remove the guardian. What Rights Can a Court Remove in the Incapacity Hearing? It’s important to remember that there are certain rights a court cannot remove during an incapacity hearing. These rights include: Representation by counsel Access to the court Receiving a proper education Remaining free from abuse, neglect, or exploitation Remaining as independent as possible Receiving necessary services, treatment, and rehabilitation To be treated with dignity and respect Rights that a court may appoint to a guardian include: To sue and defend a lawsuit To decide living arrangements Contract execution To marry or divorce To apply for government services Parental rights Travel Voting Medical and mental health treatment Employment Who May Serve as Guardian? Any adult resident of Florida, whether related to the ward or not, may serve as a guardian. Certain relatives of the ward who are not Florida residents may also serve as guardian. However, convicted felons or those incapable of performing a guardian’s duties may not serve as guardian. A court may appoint a nonprofit corporation or a professional or public guardian as a guardian. But a bank trust department may only serve as guardian of the ward’s assets. If the ward declared a guardian in writing before becoming incapacitated, the court will appoint that person as guardian if they are qualified, unless the court determines it isn’t in the ward’s best interests. The court may refuse to appoint a particular guardian if it would create a conflict of interest. Guardianship for Minors In Florida, and most states, no one under the age of 18 is legally capable of making their own decisions or executing contracts. Parents typically make these decisions for their children. If a child’s parents die or are incapacitated, the court may appoint a guardian. If a child receives more than $15,000 in a lawsuit or inheritance, the court must also  appoint a guardian. See § 744.387(2) Fla. Stat. (2019). Guardianship Legal Advice If you need to file a court petition for guardianship, or if you would like to set up a future guardianship for yourself or your loved ones, we can guide you through the process. If you are beginning your estate planning, we can help you as well. The trusts and estates attorneys at Veliz Katz Law have more than 60 years of experience helping clients in Central Florida administer their loved ones’ estates and guardianship.  Contact us  to schedule your free consultation.

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The passing of a loved one can be difficult for everyone close to them. Cherishing their life and providing comfort to one another should be the focus during this time. The last thing anyone needs to be concerned with is hammering out the details of assets or papers left behind. How can we make it easier on our loved ones? We can establish a will. Wills in Orlando A last will and testament is a legally binding publication that documents the assets, liabilities, and responsibilities of an individual that, in the event of their passing, allows these items to be settled or transferred into the possession of someone else. Normally, an individual is named to oversee that the provisions made in this document are carried out or secured. This individual is named the “executor”. The responsibilities of an executor vary. Regularly, this individual will be responsible for dividing assets as instructed in the will. These assets include but are not limited to property, money, investments, and safe deposit boxes and their contents. Sometimes, liabilities or debts also need to be settled. This can be done by liquidating any potential assets for a cash value amounting to the determined debt. Any taxes would also be settled by the executor. Any property needing to be maintained would also be done so by the executor unless possession is taken by someone else through sale or dictated by the will. In the event an executor does not wish to take this position, arrangements can be made for an alternative choice to take on the responsibility. If alternative choices are not listed by the maker of the will, the court can choose to appoint an executor for them. A will is also used in the event that a spouse or children are left behind and provisions need to be made for them. Oftentimes, financially, a spouse will still need support if their partner becomes deceased. Other times, child care becomes a concern and alternative guardians can be named in a will. Not creating a will leaves a lot of decisions up to a court of law and does not allow the individual in question any decision in the distribution of their assets or, possibly, guardianship of their children. Although wills can be created without the aid of a lawyer, the legal advice of an attorney can prove invaluable in the creation of a will. Without a lawyer, any provisions made in the document could not be clarified or explained. Missing pieces or determination of loopholes could be left up to interpretation by the court of law or the executor. If you are interested in creating a will, contact the  Orlando estate planning attorneys  of Veliz Katz Law for a consultation.

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Administering a loved one’s estate in Florida can be convoluted and anxiety-inducing. That’s because Florida probate law is complicated. Florida law requires personal representatives, also known as executors, file forms, inventory estates, and provide notices to heirs. Ensuring that you follow the proper procedures of Florida probate law can be stressful. In this blog post, we’ll walk you through the basics of being a personal representative in Florida. Who Can Serve as Executor? In Florida, there are legal requirements a personal representative, also known as an executor, must meet. The statutory requirements are pretty straightforward. You must be: 18 years of age or older, physically and mentally capable of performing the duties of an executor, a Florida resident, unless you are a non-resident related to the testator by marriage, blood, or adoption, and never convicted of a felony. In some cases, a  bank or trust company  can serve as the personal representative if incorporated under Florida law and qualified to exercise fiduciary powers in Florida. Even if someone meets the technical requirements to be a personal representative, you should also consider the practical duties of an executor before making your decision. Duties of an Executor The executor is responsible for accounting for, maintaining, and distributing all the assets of an estate. First, you’ll need to determine if the estate needs to go through probate, depending on the size and complexity of the estate. Some common transfers don’t require probate, such as: transferring real estate and assets is owned in joint tenancy to the surviving joint tenant, for instance, when spouses own a home together or have joint bank accounts; transferring bank account or securities that are “payable on death” to beneficiaries; moving funds in IRAs and retirement accounts to surviving heirs; transferring property to a surviving spouse; transferring assets held in trust to beneficiaries. If an estate only holds assets listed above, you can probably avoid probate altogether. This is called a “disposition without administration.” If the estate is worth less than $75,000, you may be able to use “summary administration.” If the estate doesn’t qualify for the two more straightforward means of administration, it may need to go through formal probate. Other duties of an executor  may include: giving notice to all interested parties; taking inventory and possession of all the estate’s assets; finding and providing notice to any creditors; publishing a legal notice for unknown creditors; assessing the value of the assets; maintaining and managing the estate’s assets, including investing, caretaking, and selling assets to pay creditors, beneficiaries, or taxes; filing an inventory with the court; filing estate tax returns; paying creditors; distributing assets to beneficiaries; reporting the distribution of assets to the court; and closing out the estate. A personal representative should notify all family members or interested parties of the proceedings. How Do I Become an Executor of An Estate? The process of becoming the personal representative of an estate in Florida will vary depending on whether or not the estate must pass through probate. 1. No Probate If the estate doesn’t need to go through probate and qualifies for disposition without administration or a summary administration, the court won’t appoint an executor or personal administrator. Instead, the person named in the will as executor will file a Petition for Summary Administration listing the assets, their value, and who will inherit the assets. The court will issue an order releasing the property to the rightful heirs. 2. Probate If the estate must go through probate, the executor named in the will, or any interested party, can ask the court to name them as the personal representative. The court will issue Letters of Administration authorizing the personal representative to settle the estate. Executor’s Compensation The estate generally compensates the personal representative for their time. The compensation is usually set one of several ways: as outlined in the will; as set forth in a contract between the executor and the decedent; as determined between the executor and the beneficiaries; as determined to  be reasonable by Florida law ; as specified by the judge. Challengers Executors Face Being the personal representative of an estate is a big, and somewhat complicated, responsibility. Still, there are some mistakes and challenges that personal representatives commonly face. 1. Failing to Identify and Secure Assets of the Estate One of your first duties as a personal representative is to find and secure all of the estate’s assets. If you miss something, that could be a financial loss to the estate and the beneficiaries. Even if the will directs a specific recipient for an asset, the personal representative must still collect and hold on to that asset until the proper distribution time. 2. Improperly Paying Claims Against the Estate As a personal representative, you can’t just pay claims and bills in any order. Under Florida law, there is a statutory order of precedence. If you pay claims out of order and the estate doesn’t have enough funds to cover all creditors, you could be personally liable. 3. Ignoring the Beneficiaries It can be stressful to keep in communication with the beneficiaries of the estate. They may have questions you can’t yet answer. But as a personal representative, you should keep the beneficiaries notified throughout the probate process. Should I Hire an Attorney? You may need to work with an estate attorney to administer and finalize the estate in cases of a more significant estate. An attorney can help you with the procedural requirements, ensure you understand all of your required duties, and assist with estate tax filings. An estates attorney can also help you: advise you of all legal deadlines and necessary filings; prepare any necessary legal documents; advise on the proper form for inventories and other court-required filings; assist you in locating experts to value estate property and assets; advise you on any required estate tax filings; file required documents with the court; and make court appearances for the estate. If you are the executor of an estate and need guidance throughout the process, give us a call. If you are beginning your estate planning, we can help you as well. The probate and trusts and estates attorneys at Veliz Katz Law have more than 60 years of experience helping clients in Central Florida administer their loved ones’ estates.  Contact us  to schedule your free consultation.

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When a couple splits up, they initially believe that they can get out of the marriage relatively painlessly. Their plans are simple—they’ll move out, legally separate, agree on everything, and file for divorce. Because they have very few things to argue over, particularly if there are no children involved, they’re sure that they can handle things amicably without any help, legal or otherwise. However, these ex-partners quickly realize that ending a marriage is never easy as it seems, even if you are on good terms. Complications can arise from some of the most surprising places, and if you don’t have the right attorney on your side to help you navigate those troubled waters, you can find yourself sinking  quickly. To that end, if you are heading toward divorce, here are some surprising factors that can complicate a Florida divorce that you probably haven’t considered. There Is No Such Thing as Legal Separation in Florida Florida is 1 of only 6 states that does not recognize legal separation. Therefore, a couples’ only recourse for dealing with asset separate and other issues before divorce is taking advantage of statutes that permit them to agree or litigate issues like  spousal support and  child custody. However, it’s important to note that the decisions made in those agreements or proceedings are not binding in the divorce. This means the court can reexamine and modify those agreements once formal divorce papers have been filed. Dating While Separated Florida is a  no-fault divorce state. Therefore, either party can seek a divorce without proof of any wrongdoing by the other party. This includes infidelity during the marriage or dating while separated. Though not illegal, dating during a separation can certainly add complications to an on-going proceeding, particularly because Florida law does not define the point where legal separation begins. If you start to date, your ex might feel hurt or angry because you’ve moved on before they did or have concerns about your new partner interacting with your children. Moreover, your ex can begin to express those feeling by making more demands for assets and pushing for limited child visitation time. Pets It’s not surprising that a divorcing couple needs to decide what happens with a pet once they separate. What is surprising is the intensity of the disagreements over the “custody” of these animals. Because Florida law deems pets personal property, they are subject to equitable distribution like all other marital assets such as houses or cars. Therefore, the court will not award visitation time or enforce any pet custody arrangement. If ex-spouses want to continue sharing responsibility for a pet, they have to agree on the terms of their shared “custody” or figure out some other way to equitable split a pet. Appliances and Tools Even though appliances and tools such as microwave ovens, lawnmowers, food processors, and Kitchen Aid stand-mixers seem like relatively inexpensive items that a couple should be able to divide or sell easily, that’s not always the case. Fights over these types of items happen more frequently than most couples think and are often the result of an unexpectedly emotional reaction to the object by one or both parties. If the appliance came into the marriage by way of a gift to one spouse, that party might be able to claim it is property separate from the marital estate. However, if the court deems the item marital property, the court will order an equitable division of those items, no matter their sentimental value. If you are experiencing unexpected complications in your divorce, Veliz Katz Law can help,  contact us. We work hard to support our clients with the legal services they need to untangle any divorce issue, no matter how messy or complicated.

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With the 2020 election decided and President-elect Joe Biden’s inauguration fast approaching, it’s time to look at how policy positions as President of the United States might affect your estate planning and tax planning over the next four years. Luckily, President-elect Biden released detailed information on his tax plans for the country. President-elect Joe Biden’s plans  include: Increasing the Child Dependent Care Tax Credit to $8,000 and the Child Tax Credit up to $3,600 for children under six. Biden also proposed making the amount refundable regardless of a taxpayer’s income level; Changing how we calculate global intangible low-taxed income (GILTI) to reduce offshoring of production and jobs from the U.S.; A first time home buyer credit of up to $15,000; Raising individual income tax for those with income above $400,000, increasing the corporate income tax rate, and creating a corporate minimum book tax. Overall, the Tax Foundation indicates that Biden’s plans would decrease the tax rate for the top 1% of income earners by an average of 6.5% and decreasing income tax for all taxpayers by 1.7% on average. Estate Planning Under the current law, the lifetime estate exclusion amount is $11,580,000 per taxpayer or $23,160,000 per married couple. The current tax rate for estates over that amount is 40%. The current estate tax exemption will expire in 2025. If it expires, the exemption will revert to $5 million per individual or $10 million per married couple. Biden has not indicated a specific estate tax amount that he favors; he has said he would like to see the exemption return to “historic norms” rather than have the current rates become permanent. Presumably, this means he would like the estate tax exemption to return to $5 million per individual and $10 million for a married couple. Coronavirus Relief Even before Biden takes office, he has indicated he’d like to see Congress pass another Coronavirus stimulus bill before Congress’s previously implemented final COVID-19 relief measures expire on December 31, 2020. Biden’s current economic plan adopts additional unemployment measures but may not include another round of stimulus checks going directly to taxpayers. Change Hinges on Congress While Biden campaigned on a wave of drastic changes to the tax code, it’s important to remember that many of his advanced plans depended on a “blue wave” sweeping the Democrats into control of the Senate as well as the House of Representatives. Depending on what happens in the two run-off elections for Georgia’s Senators, Biden may not be able to count on Democratic control to force through his policy plans. Even if the Democrats win both Georgia Senate seats, the Senate will still be split 50-50, with Vice President Kamala Harris as the deciding vote. Rather than attempt to pass a one-sided tax plan, Biden may need to fall back on what many says he does best – compromise No matter what happens after the inauguration and a new administration takes over, we can help you with your estate plan and explain how new tax laws will affect you. Contact the experienced Orlando estate planning and tax attorneys of Veliz Katz Law for a consultation, and we can discuss your options.  Contact us.

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Email accounts, social media profiles, websites, cryptocurrency—each of us leaves behind a digital footprint. But what happens to your digital presence after you die? Your digital assets might be valuable and should be part of your estate plan. What Are Considered Digital Assets? In 2013, security company  McAfee did a survey of digital device use  and found that the average person has $35,000 worth of assets stored on their personal devices. That was seven years ago. Imagine what that figure would look like today. Digital assets don’t have to have represent a dollar figure to be valuable, however. Digital photo and video files or old email messages might have sentimental value that you want to safeguard. Everyone has digital assets, but most of us aren’t aware of it. The following are some examples of what the Florida Bar Association considers digital assets: Email Accounts Digital media libraries (music, movies, eBooks, podcasts, or other media files) Social media profiles Websites or blogs Cryptocurrency wallets Subscriptions to web-based services (streaming platforms, digital magazine subscriptions) Files in cloud-based storage Membership to retail rewards or points programs Electronic medical records Digital intellectual property Should You Bequeath Digital Assets? Including digital assets in your estate plan will save some hassle for your family after you’ve died. Laws haven’t caught up to technology when it comes to digital assets and estate planning. Privacy regulations, both in Florida and at the federal level, prevent unauthorized access to digital records. Also, if you haven’t included your digital assets in your estate, your fiduciary or family members might not know it exists—digital assets don’t’ leave a “paper trail.” Even if they can locate your digital assets, your heirs still might have trouble accessing them. Online service providers aren’t required to disclose the contents of their users’ accounts, even to a fiduciary or heir. Most websites won’t give out passwords without a court order, either. However, if you consent to grant access to your digital accounts and assets, it puts the executor of your estate in a much better position. If you generate income from digital properties, it’s especially in your interest to get them settled. How Do Estate and Tax Lawyers Help You Protect and Pass Along Your Digital Assets in Florida? Estate planners familiar with digital assets in the state of Florida can simplify the planning process for you. Identifying digital property is the hard part. Once you know what your assets are, you can proceed as you would with tangible personal property. Digital estate planning goes more smoothly if you stick to these essentials : Clearly identify someone to manage your digital assets List all your digital assets on a personal property memorandum as part of your estate planning documents Ensure any ancillary documents give the proper authority to digital records If you need help revising or developing an estate plan that integrates digital assets, Veliz Katz Law can help.  Contact us. We’ll help you identify, protect, and pass along your digital assets.

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Divorce is always hard, but it can be even more challenging when you have children. When you’re considering divorce and have young children, your biggest worries are probably how the divorce will affect your kids emotionally and how the divorce will affect your finances and, therefore, your ability to care for your children. Worrying about how you will pay for childcare isn’t an irrational concern. Daycare, particularly for infants and young toddlers, is expensive. Florida is one of 31 states where the  annual cost of tuition  at a public college is less than the cost of childcare. In Orange County, the average weekly cost for infant care is $176, but prices range up to $346. The average cost for a year of tuition and fees at a Florida public university is about $6,300. The average cost for a year of infant care is more than $8,300. Determining Child Support Fortunately, Florida courts do consider the cost of childcare when making child support determinations. Typically, the courts will use the Florida Child Support Guidelines to determine each parent’s child support contributions. See  Fl. Stat. §61.30  (2012). Using the “income shares model,” the court will attempt to determine the amount of money the parents would have spent on their children had they remained married. The court then divides this amount between the two parents based on their individual incomes. The court will also consider the required expenses of the couple, including: Taxes; Child support paid for other children; Health insurance costs; Retirement payments; and Spousal support for this proceeding or from an earlier marriage. The amount determined by the Florida guidelines is the presumptive amount of child support. That means that the court can vary it a bit based on circumstances, but the support will probably be within 5% of the court’s calculated child support amount. Determining Childcare Contributions Florida courts will typically divide additional expenses necessary for raising a child, including health care premiums and deductibles, educational expenses, and childcare. These expenses are above and beyond the child support obligations determined by statute. To determine each parent’s contributions towards childcare, Florida courts will typically divide them according to each parent’s income. So, if you make twice what your spouse makes, you can expect to pay twice the amount towards childcare for your kids. While you and your ex-partner can agree on a different division of expenses, you should be sure to get the court’s approval. Florida courts don’t have much leeway in the amount of child support they must order, but they do have more leeway concerning additional child-related expenses like childcare. So, if you receive a discount on childcare through your employer, but your ex-partner has less expensive health insurance premiums, you may be able to agree that you will pay for childcare, and the other parent will pay for health insurance. Of course, this should be in writing and approved by the court. If you are considering divorce, you need advice from a skilled divorce attorney. The experienced Orlando divorce law attorneys of Veliz Katz Law can help.  Contact us  for a consultation, and we can discuss your options.

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The Coronavirus pandemic has rocked businesses and families across the country. In  Florida alone , as of September 2020, we’ve had more than 671,000 cases of the virus and more than 13,000 deaths. Since Governor Ron DeSantis  urged  Floridians to stay at home to help slow the virus’s spread on March 24, 2020, Orlando-area businesses have felt the pinch. With tourism slowed and many businesses closed, many business owners have turned to federal and other emergency relief loans to stay in business. But how will these loans affect your estate and business planning? In this blog post, we’ll discuss what you should know about emergency relief loans and how they should affect your plans. Paycheck Protection Program Loans As part of the $2.2 trillion  CARES Act stimulus package , Congress authorized the Small Business Administration (SBA) to administer the Paycheck Protection Program (PPP). This program is one of the most popular emergency relief loans. If you used the funds to keep employees on the payroll, the SBA may convert PPP loans to grants and forgive them. To ensure that your small business  qualifies for loan forgiveness , you must follow the SBA rules to use the funds. Eligible expenses include payroll, mortgage interest, rent, and utilities as long as your mortgage, lease, and utilities began before February 15, 2020. Eligible payroll expenses include salary; health benefits; vacation time; and sick, family, parental, or medical leave. You can’t cut salaries by more than 25% for employees that made less than $100,000 annually. At least 60% of your expenses must be for payroll costs, not including independent contractors. Eligible expenses incurred over 24 weeks from the date your lender made your first payment or eight weeks if you received the loan before June 5th. The cut-off date for eligible expenses is December 31, 2020. The forgivable amount of your loan will be in proportion to the amount spent on payroll. There are more complicated rules regarding furloughed employees and rehiring, so it’s best to consult an attorney to ensure that your business complies. Some of the other available emergency loans include Economic Injury Disaster Loan (EIDL) advance payments, Section 7(a) SBA loans, and the Save Small Business Fund from the U.S. Chamber of Commerce. Estate Planning for Your Small Business Whether your business used a PPP loan, a traditional loan, or other emergency loan relief, you need to ensure that your company still pays the loan back if something happens to you. You also want to ensure that you leave your small business to your family precisely the way you want. Some things you should consider are: Living Trust: A living trust transfers ownership of your shares of your business to a trust with no tax consequences or change of control unless you die or become incapacitated. A living trust can also allow you to choose a successor for your business and automatically transfer ownership upon death, avoiding probate. Life Insurance: Unless your business generates significant cash flow and will continue to do so after your death, it may not entirely provide for your family, let alone pay off loans. You should consider life insurance for your family but also a life insurance policy that benefits your business. Buy-Sell Agreements: A buy-sell agreement is useful if there are multiple owners of your business. If certain conditions are met, like the death or disability of an owner, the remaining owners have the right to purchase your shares of the company, or your shares will pass to your heirs. Ensuring that you care for both your business and your family in the event of your death or incapacity can be a stressful burden. When you add in a global pandemic, trying to plan can be even more difficult. But if you have questions, we can help. Whether you are beginning the estate planning process or need to revise your plans,  contact us. At Veliz Katz Law, we work hard to support our clients with the legal services despite these troubling times.

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This year has been challenging under the best of circumstances. Since Governor DeSantis placed  Florida in a state of emergency  on March 9, 2020, non-essential businesses and courts across the state shut down. As of September 14, 2020, Florida has had more than 662,000 cases of Coronavirus and more than 12,000 deaths. Due to the pandemic, Florida’s  unemployment rate rose to 11.3%.  As a result, Florida families face the stress compounded by custody and visitation struggles or financial difficulties after a job loss. Custody and Visitation If you’re navigating child custody and visitation during the pandemic, you may need to be flexible. Follow Court Orders You should follow your court-ordered visitation schedule unless you and your partner agree to adjust it. If you and your partner can’t agree on a change, you need to follow your original order. Consider you and your partner’s homes to be part of the same quarantine bubble. As long as everyone in your family stays healthy, a court will enforce your custody and visitation order. Make a Plan You and your partner should discuss a plan if one of you gets sick, or the kids end up at home learning virtually. You won’t want to make last-minute arrangements if you’re sick. Use Practical Solutions Try to be flexible. If one of you can’t have the kids for two weeks because of exposure to COVID-19, adjust the schedule, and agree to let your co-parent have some catch-up time. If school closes down again and the kids need daycare while you both work, can you split the cost? Can one of you work from home and supervise virtual school? Consider all the possible scenarios for the new school year. Keep Communicating You and your ex-partner need to keep the lines of communication open. You both want the best for your children. The best thing you can do for them when difficult situations pop up is to remain flexible and keep talking about practical solutions. Child and Marital Support With sky-high unemployment rates in Florida, the pandemic is causing financial problems for many families. If you or your ex are facing a job loss, income reduction, or furlough, try to be flexible. If you are the support payor, you should file for a modification for child support in family court as soon as possible. Remember, whether you are the payor or the recipient, the court will undoubtedly reduce support payments after a job loss. If you lose your job and your ex-partner relies on child or spousal support, let them know right away. Remain respectful and supportive at all times because your texts or emails may be admissible in court. The pandemic is stressful for many families, but we can help if you face a tricky family law situation. At Veliz Katz Law, we work hard to give our clients support and the legal services they need during these turbulent times.

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With the 2020 election fast approaching, it’s time to look at how the two candidates’ policy positions for President of the United States might affect your estate planning and tax planning over the next four years. Luckily, both candidates released information on their tax plans for the country. Donald Trump’s Tax Plans President  Donald Trump’s tax plans  fall into two basic categories: ending our reliance on China and creating jobs. His policies proposals include: An unspecified tax cut to bring home take-home pay and a “made in America” tax credit; Expanding opportunity zones; Tax credits for companies bringing jobs back to the U.S.; Payroll tax cuts and forgiveness of the current payroll tax reductions; and Middle-class tax rate reductions. The tax plan doesn’t detail what will happen with business tax cuts passed as part of the  Tax Cuts and Jobs Act  (TCJA). Moreover, while the administration imposed more than $80 billion in tax increases through tariffs, President Trump’s formal policy positions don’t explain how his administration will handle these tariffs in the coming years. However, he has said that he will impose tariffs on companies that fail to move jobs back to the U.S. According to the Tax Foundation, it is difficult to definitively indicate how much individual or corporate tax rates will be affected by Trump’s proposed policies. Joe Biden’s Tax Plans Former  Vice President Joe Biden’s plans  include: Increasing the Child Dependent Care Tax Credit to $8,000 and the Child Tax Credit up to $3,600 for children under six. He’s also proposed making the amount refundable regardless of a taxpayer’s income level; Changing how we calculate global intangible low-taxed income (GILTI) to reduce offshoring of production and jobs from the U.S.; A first time home buyer credit of up to $15,000; Raising individual income tax for those with income above $400,000, increasing the corporate income tax rate, and creating a corporate minimum book tax. Overall, the Tax Foundation indicates that Biden’s plans would decrease the tax rate for the top 1% of income earners by an average of 6.5% and decreasing income tax for all taxpayers by 1.7% on average. Estate Planning Under the current law, the lifetime estate exclusion amount is $11,580,000 per taxpayer or $23,160,000 per married couple. The current tax rate for estates over that amount is 40%. The current estate tax exemption will expire in 2025. If it expires, the exemption will revert to $5 million per individual or $10 million per married couple. Trump has not issued any policy positions indicating whether a future administration will extend the TCJA and the current estate tax exemptions. Still, the administration has indicated they would like to see them become permanent. Biden has not indicated a specific estate tax amount that he favors; he has said he would like to see the exemption return to “historic norms.” Presumably, this means he would like the estate tax exemption to return to $5 million per individual and $10 million for a married couple. No matter what happens in the 2020 election, we can help you with your estate plan and explain how new tax laws will affect you. Contact the experienced  Orlando estate planning and tax attorneys  of Veliz Katz Law for a consultation, and we can discuss your options.  Contact us.