Mortellaro Law Firm

Domestic Asset Protection Attorneys from Mortellaro Law routinely design custom strategies to help clients stretch and protect their hard-earned wealth. Stretching helps wealth grow and minimizes liabilities while protecting reduces threats that could take wealth away. Wise estate planning and asset protection plans include both. Amassing wealth is a worthy goal that requires hard work, dedication, careful planning, and strategic decision-making. Mortellaro Laws Florida Domestic Asset Protection Attorneys help you protect your assets from creditors and predators while maximizing their growth. This is the essential function of asset protection. What is Asset Protection?Asset protection involves taking measures to safeguard your assets from lawsuits, creditor claims, and other threats. This includes protecting your personal assets, such as your home and personal property, and your business assets, such as your companys intellectual property, real estate, and other investments. Asset protection planning is essential for anyone who wants to protect their hard-earned wealth from potential risks and liabilities.Stretching Your Wealth | Domestic Asset Protection AttorneyMaximizing income tax deferral and wealth accumulation while minimizing tax liability is key to stretching your wealth. Our Florida Domestic Asset Protection Attorneys can help you achieve this goal in several ways. For example, they can help you structure your investments tax-efficiently, such as using trusts, limited liability companies, and other legal entities. They can also evaluate all options for minimizing tax liability and the erosion of savings that results from paying too much in taxes.Another important tool for stretching your wealth is retirement planning. Mortellaro Law can help you develop a comprehensive retirement plan that takes into account your specific financial situation and goals. This can include a range of strategies for reducing taxes in your golden years, including taxes on Social Security benefits, and may even be able to show you how to enjoy a tax-free retirement.Protecting Your WealthProtecting your wealth from creditors and predators is another important goal of asset protection planning. A Florida Domestic Asset Protection Attorney can help you develop a comprehensive asset protection plan that takes into account your specific risks and liabilities. This can include strategies for protecting your personal assets, such as your home and personal property, as well as your business assets, such as your companys intellectual property, real estate, and other investments.One key tool for protecting your wealth is insurance. Our domestic asset protection attorneys can help you evaluate your insurance needs and find the right policies to protect your assets and mitigate your risks. This can include liability insurance, property insurance, and other types of coverage that can help protect your assets in case of a lawsuit or other type of claim.A Word About Domestic Asset Protection Trusts A Domestic Asset Protection Trust (DAPT) protects assets from creditors and civil judgments. It is similar to any other trust, where a grantor establishes and funds the trust with assets for specific beneficiaries and appoints a trustee to manage the trust assets. The trustee must comply with the guidelines of the trust.However, in Florida, a grantors assets are not protected from seizure if he or she is also named as a beneficiary in the trust. Florida law and several court challenges have established that creditors and those seeking judgments against a grantor have full access to the beneficial interest in the income or principal from a DAPT self-settled trust where the grantor is also named as a beneficiary.However, if a Florida resident establishes a DAPT in a DAPT-friendly state, and more of the trusts assets, beneficiaries, and trustees are situated in that state, the higher the likelihood that DAPT-friendly states laws will apply to the trust. In other words, the Florida resident who established the trust as a grantor may enjoy that states protections from creditors and others.Domestic Asset Protection Attorney Michelangelo Mortellaro can provide more information and legal counsel in a private consultation at his Tampa office.Get Help from a FL Domestic Asset Protection Attorney in TampaStretching and protecting your wealth is a complex process that requires careful planning and strategic decision-making. Mortellaro Law has Tampa Domestic Asset Protection Attorneys who can help you achieve these goals by developing a comprehensive asset protection plan that takes into account your specific risks and liabilities. With the right strategies and tools in place, you can enjoy the peace of mind that comes with knowing that your hard-earned wealth is protected and secure. Contact Mortellaro Law today to learn more.

Could your assets be at risk? What you have is important to you and is therefore important to us. Our Asset Protection Attorneys in Tampa can help protect you against creditors, divorce, lawsuits, and judgments. Michelangelo Mortellaro calls it protection against creditors, predators, and other mean people. He also puts this need into perspective like this: He asks, If you lost what you have, how bad a day would that be? No one wants to lose what theyve worked a lifetime to gain, so protecting your assets is wise. Explaining Asset ProtectionInvestopedia defines asset protection as the adoption of strategies to guard ones wealth. It sounds simple enough, but the process can involve significant planning, strategizing, and steps to enact the protection you need. Our Asset Protection Attorneys in Tampa can use legal strategies to shield your assets from creditor claims, frivolous lawsuits, or other attempts at taking them. This can include the following: Retitling propertyLiability Insurance coverageLife InsuranceRetirement accountsTrustsHolding separate properties in an LLCAnnuitiesGifting assets to familyMore  There are also laws in Florida that make certain assets exempt from creditors, like retirement account exclusions and homestead statutes that protect your primary home. An Asset Protection Attorney in Tampa from Mortellaro Law can show you how to take advantage of these and other legal barriers.  Together with other tools, we can raise a multi-layered bastion of legal protections around your assets to prevent their loss. Why Would I Need Asset Protection?Millionaires are not the only ones needing asset protection. Creditors and others can come after what you have even if you dont think it could be at risk. Anything worth having can be desired by someone else. What are some likely scenarios that could see your assets at risk of seizure or judgments?  Youre a business owner whose employee left the floor wet in your store after cleaning up. A customer slips and falls, sustaining an injury. You are now facing a personal injury lawsuit. Youre a rental property owner and a guest becomes injured after falling over a broken step from the deck down to the beach. You are now facing a personal injury lawsuit. Youre a commercial property investor with several large industrial properties. One of the companies occupying your property is being investigated for illegally disposing of hazardous materials. You are named in the judgment against them by a government regulatory agency. Youre a pretty decent person, but your spouse disagrees and now he or she is suing you for a disproportionate portion of your assets in a divorce.  Yes, these types of incidents happen all the time and leave individuals and businesses struggling to stay afloat after losing significant assets.  On another note, you may need to protect assets to qualify for Medicaid Long-term Care coverage if you suffer a debilitating health condition. A well-structured Asset protection strategy can also help you keep major assets from being counted in the drastic Medicaid asset and income limits.Consult Our Local Asset Protection Attorneys in Tampa When you contact Mortellaro Law about help from our Asset Protection Attorneys in Tampa, we will help you design and implement an asset protection plan with three primary functions:  Deter lawsuits (because your assets are untouchable) Provide leverage during settlement negotiations (because your assets are untouchable)Placing your assets beyond the reach of opponents (making your assets untouchable) What would happen to you and your family if you lost everything? Dont let that happen! Contact our Asset Protection Attorneys in Tampa at Mortellaro Law to schedule a free consultation about asset protection in Florida. 

Snowbirds are those who winter in the warmer climates like Florida. They typically own a home here while maintaining a more permanent residence in another state. What happens when a decedent leaves property in Florida to out-of-state heirs? A Tampa Probate Attorney from Mortellaro Law explores how Ancillary Probate works. What is Ancillary Probate?Ancillary probate refers to a probate proceeding thats required in addition to the primary probate proceeding that takes place in your home state. This secondary probate is necessary because the probate court in the decedents home state has no legal jurisdiction over property thats situated elsewhere. Florida ancillary probate proceedings in Florida are necessary to transfer ownership of in-state property to heirs or beneficiaries residing in other states. Ancillary means subordinate or supplementary; the primary probate proceeding in a decedents home state is known as a domiciliary probate because their domicile or primary home was in that state. Unlike other assets like bank accounts, retirement accounts, or personal property, real estate must be resolved by the state in which it is located. Families and beneficiaries of seasonal Florida residents need assistance from a local Tampa Probate Attorney when their loved one passes away and leaves them property in the Sunshine State. How Does Ancillary Probate Work?Ancillary probate typically works like any other probate case. One notable challenge can be finding a qualified personal representative to serve as the ancillary probate executor. A Tampa Probate Attorney is commonly sought to serve in this capacity, although sometimes a nonresident can be named. The Florida probate court will then issue Letters of Administration to the qualified ancillary personal representative. The ancillary personal representative can choose to file for a summary or formal probate administration:Summary Administration: This process is available when the net equity of the Florida property is less than $75,000. It is somewhat simpler and faster. Formal Administration: This process is required when the net equity of the Florida property exceeds $75,000. Under Florida law, you will need a Tampa Probate Attorney to guide these proceedings. The ancillary personal representative will also need to file the appropriate probate documents with the court, send out notices to creditors, handle any debts, and receive authority to distribute the Florida property to beneficiaries according to the will. Get Help from a Local Tampa Probate Attorney with Ancillary Probate AdministrationMost Florida real estate handled in ancillary probate exceeds $75,000 in value, so you will need the help of a Tampa Probate Attorney to comply with Florida state law. A seasoned probate attorney from Mortellaro Law can help you take advantage of some Florida laws that can help shield you from excessive taxes or some creditor claims. You may even be able to take advantage of homestead status in certain circumstances. A Tampa Probate Attorney can help you save travel time and money because they are local and licensed to handle probate matters in Florida. For example, closing the property must be done in person by the personal representative. When that person is located nearby, this is much simpler. Court hearings or other matters with your personal representative can be handled via videoconference. Handling ancillary probate matters when you live in another state can be confusing and costly. Mortellaro Law has the knowledge and experience to serve as your decedents personal representative and handle in-state requirements smoothly. We can help ensure that your loved ones Florida real estate is handled properly and that you enjoy its full benefit. Contact Mortellaro Law today at 813-291-0734 and request a consultation. 

Moving to a new place is never easy, and it is even harder for our elders. The thought of leaving their home and familiar surroundings can be overwhelming. However, sometimes, its necessary for them to move into an independent living community to ensure their safety, comfort, and well-being. There are multiple independent living communities in Florida, making it challenging to choose the best one for your loved one. This blog post guides how to choose the right independent living community in Florida that meets your loved ones needs.An Initial Step: Identifying Your Loved Ones Personal NeedsAssess Your Loved Ones Needs: Before choosing an independent living community, assess your loved ones needs, including their health, mobility, social life, and budget. Speak to their doctor and caregiver to get a clear understanding of their medical needs. Find out how independent they want to be and what activities they are interested in.Importance of Location: Proximity and ConvenienceThe next crucial thing to consider is the location of the independent living community. Ensure the communitys location is convenient for you and your loved one. Inquire about the communitys proximity to hospitals, grocery stores, and other essential services. The availability of transportation services is also an important consideration.Variety of Amenities: Catering to Specific PreferencesDifferent Independent living communities offer varied amenities. Its essential to compile a list of amenities crucial to your loved ones well-being and compare different communities offerings. These amenities may range from a fitness center, spa, swimming pool, and wellness programs. Ensure that the community can cater to all your loved ones needs.Staff Quality and Services: Ensuring Professional CareThe quality of staff and services offered in the community is also an important consideration. The community should have professional caregivers who are available 24/7 and a personalized care plan for each resident. Its essential to inquire how the community ensures the safety and security of its residents. Check on the ratio of staff to residents to ensure they provide adequate care.The Power of Reviews: Leveraging Experiences of OthersFinally, research and read online reviews of each independent living community you are considering. These reviews can help you gauge how happy the residents are, the standard of care and professionalism, and other critical aspects. A community with multiple positive reviews is likely to be a good fit for your loved one.Conclusion: Navigating the Selection Process with Confidence and AssistanceThe process of finding the perfect independent living community in Florida for your loved one can undoubtedly seem daunting. However, its crucial to remember that the primary goal is ensuring their happiness, security, and well-being. With a clear understanding of their needs, preferences, and the essential factors to consider, such as location, amenities, staff and services, and reviews, youre well-equipped to make an informed decision.But you dont have to navigate this challenging process alone. Involving an experienced elder law attorney can provide invaluable assistance, from long-term care planning to estate planning. They can guide you on leveraging government benefits like Medicaid Long-Term Care to cover nursing home costs, preserving your loved ones assets for their heirs, and avoiding probate. Armed with all these resources and knowledge, you can help your loved one transition seamlessly into a new stage in life that offers comfort and security and caters to their specific needs and preferences.At Mortellaro Law, we practice elder law and offer personalized services designed to provide peace of mind to you and your family. We will take the time to understand your unique situation and help you meet all of your needs. Our team of experienced attorneys and staff can help; schedule a free consultation today to learn more.If youre in the Tampa Bay area and are interested in estate planning, long-term care planning, or asset protection, consider joining our free monthly seminars. While part of our focus is on guiding you in finding the ideal independent living community in Florida for a loved one, we also provide valuable insights into a wide array of topics. These include general estate planning, strategies for long-term care, and effective methods for asset protection. Dont miss this chance to broaden your understanding and make informed decisions. Click here to sign up for our next seminar.

Probate administration is the legal process of transferring a deceased persons assets to their heirs or beneficiaries. In Florida, there are three types of probate administration: summary administration, formal administration, and disposition without administration. Each type of administration has its own specific requirements and procedures.  Probate Attorney Michelangelo Mortellaro of Mortellaro Law reviews the three types of probate administration in Florida. He can also answer more questions about probate administration and planning ahead to avoid probate in a confidential consultation. Contact Mortellaro Law to schedule a free initial consultation today. Summary Administration | Tampa Probate AttorneySummary administration is the simplest and quickest form of probate administration. It is available when the value of the estate, excluding exempt property and homestead property, is less than $75,000 or when the decedent has been dead for more than two years. In summary administration, the court issues an order distributing the assets of the estate directly to the beneficiaries. There is no need for a personal representative to be appointed, and the process can be completed in as little as a few weeks. A summary administration is not the best option if the decedent has creditors or is likely to have creditors. However, if the creditors and amounts owed are known, the person filing for a summary administration can pay the outstanding debts before filing. You may also arrange for paying the outstanding debts within your petition for a summary administration. What if an unknown creditor files a claim for a debt after a summary administration is opened? If this happens, after verifying the debts authenticity, and if there are sufficient assets in the decedents estate to pay the debt, the petition for summary administration can be amended to arrange for paying the debt. While a summary administration is faster and simpler than a formal administration, you may still need the guidance of a Tampa probate attorney. Issues can arise like unknown creditors that can require legal advice and creating precisely worded documents. Mortellaro Law can provide the advice and guidance you need for a summary probate administration in Florida. Formal AdministrationFormal administration is the most common form of probate administration in Florida. It is required when the value of the estate, excluding exempt property and homestead property, is more than $75,000. Formal administration is also required when the estate includes real property that is not protected by a homestead exemption.In formal administration, a personal representative is appointed by the court to administer the estate. The personal representative is essentially the CEO responsible for a long list of critical tasks, including: Executing the decedents wishes as expressed in the will Locating and notifying beneficiaries of the decedents death Identifying and collecting the assets of the estateEstablishing the current value of estate assets Providing notice of probate so creditors can file claims Verifying and paying the debts and taxes of the estateDistributing the remaining assets to the beneficiariesClosing the estate Formal administration can take several months or even years to complete, depending on the complexity of the estate. A Tampa probate attorney is an essential partner during a formal probate administration. Their expertise in handling probate matters helps this complex process to flow smoothly, and their knowledge of Florida probate law and common mistakes is critical to preventing serious missteps. Disposition Without AdministrationDisposition without administration is only available in limited circumstances. It is used when the value of the estate, excluding exempt property and homestead property, is less than the amount of the funeral expenses and certain other expenses of the estate. In disposition without administration, the person who paid the funeral expenses or other expenses of the estate can file a petition with the court to be reimbursed from the estate. The court will then issue an order directing the payment of the expenses from the estate. Tampa probate attorney Michelangelo Mortellaro can explain more if the estate qualifies for this form of disposition. Get Help from a Tampa Probate AttorneyProbate administration can be a complex and time-consuming process. Understanding the three types of probate administration in Florida can help you determine which type of administration is appropriate for your situation. If you have questions or concerns about probate administration, it is always best to consult with an experienced probate attorney who can guide you through the process and help you achieve the best possible outcome for your situation.Handling probate is typically complicated by the fact that the persons involved have just lost a loved one and are grieving. Emotions and questions can cause confusion and uncertainty. Tampa Probate Attorney Michelangelo Mortellaro is an experienced and compassionate advocate who cares about his clients. Contact Mortellaro Law in today and ask for a FREE consultation to get advice about your next steps.

Losing a loved one can be a difficult and painful time for family and friends. There are many things to consider after someone passes away, including what happens to their bank. If someone dies without a will in Florida, their bank account and other assets will be subject to the states intestacy laws.Dying IntestateIntestacy laws dictate how a persons assets will be distributed if they die without a will. In Florida, if someone dies without a will, their assets will be distributed according to these laws. This means that the deceaseds bank account will be distributed to their heirs according to the states laws. It is important to note that if the deceased person had outstanding debts or liabilities, they must be paid before any assets, including funds in a bank account, can be distributed to heirs. If there are insufficient funds in the bank account to pay off the debts, the heirs may not receive any inheritance from the account.Bank Accounts with Named BeneficiariesIf the decedents bank account has named beneficiaries, it will pass directly to those individuals upon the decedents death. This setup allows control of the bank account and its assets to pass directly to the named beneficiaries without waiting for the exhausting probate process to be completed. The named beneficiaries must show a valid ID and the decedents death certificate to the bank. Bank Accounts with No Named BeneficiariesBank accounts with no named beneficiaries must pass through the probate process. Probate is timely and expensive, and when no will is present, the court will appoint an estate administrator to carry out its orders under state law. This often triggers family disputes and other problems because the law seldom distributes assets like bank accounts according to the familys wishes. Jointly Owned AccountsJointly-owned bank accounts in Florida typically pass to the sole ownership of the surviving joint account owner. This is called rights of survivorship. No probate process should be required.Probate AdministrationTo access the funds in a deceased persons bank account, the appointed executor must provide documentation to the bank to prove that the court has appointed them as the estate executor. This documentation may include a death certificate, letters testamentary, and other legal documents. Avoid Burdening Your Loved Ones Create an Estate Plan TodayIf someone dies without a will in Florida, their bank account will be subject to the states intestacy laws. The funds in the account will be distributed to the heirs according to the states laws. This seldom happens according to the decedents or the familys wishes. Complicated family structures and relationships can prolong the probate process while some may contest the courts distributions.  A Tampa Probate Attorney from Mortellaro Law is an invaluable resource when faced with controversial beneficiary distributions by the court-appointed administrator of an intestate loved ones estate. We are happy to consult with you and advise you on your rights and possible courses of action.  Of course, preventing this scenario and its burden on your loved ones is crucial. Mortellaro Law can help you create a sound estate plan to fulfill your wishes after your death. Asset distribution, including bank accounts, is just one benefit of establishing an estate plan now. Contact us today for a free consultation about estate planning in Florida. 

Most people at some time give thought to estate planning for the future of their assets and loved ones. But in our modern times, your Digital Estate may not get the attention it deserves. Here, a Wills and Trusts Attorney in Tampa from Mortellaro Law discusses handling your Digital Estate Planning in Florida.What is a Digital Estate?We are surrounded by technology and so it is no surprise that most of our financial affairs are handled through digital mediums. All this electronic information stored on your computer, tablet, smartphone, smart watch, and in the cloud is considered a digital asset and as such, part of your digital estate. These assets may or may not have financial value, but they typically have some sort of value to you, and should be accounted for in your complete estate plan.Think of all the electronic assets you possess and use on a regular basis. Make a tally of them by category so it is easier to keep track of them. This is your Digital Estate.Personal Property | Discusses Handling Digital Estate PlanningList all your personal online accounts on social media, email accounts, personal shopping accounts, photo storage accounts, video sharing accounts, and other ways you interact online. Be sure to include all the usernames and passwords for each account.Property with Monetary ValueList here your accounts that actually hold money, like bank accounts, credit accounts, PayPal, Venmo, Wallet, Samsung Pass, Apple Pay, Google Pay, Cash App, loyalty rewards accounts, online betting accounts, and any other programs or apps that can hold or transfer money. This can also include any bitcoin or other cryptocurrency holdings and NFTs. Again, list the usernames and passwords for each account or app.Business-related PropertyDo you operate an online store like eBay, Etsy, Amazon, or others? These accounts are also part of your digital property. Many may hold real assets like intellectual property you have created (eBooks, drawings, photos, music, etc.) and to which you hold the rights. Include any website domains you hold, blog content with original writing, and online video channels where the content is monetized and produces a profit.It is estimated that the average consumer in the US has around 100 or more online accounts with usernames and passwords! And yet, we often underestimate the value of our digital estate.Managing My Digital Estate Planning with a WillA Will and Trusts Attorney in Tampa can explain how a legal will can help you manage your estate, including your digital estate. All your digital assets and the information required to access them should be recorded in your will. Be sure to include instructions for how you wish these assets to be handled, recorded, donated, liquidated, maintained, or otherwise distributed by your executor.Digital assets with monetary value will be of particular importance, as they will form part of your estate that will be subject to probate. If you hold significant digital assets and do not account for them in your estate planning, this can cause serious problems or setbacks during probate. They may cost your loved ones or other beneficiaries tax penalties and delays. They may also be subject to seizure or liquidation to satisfy debts.Managing My Digital Estate Planning with TrustsDigital assets that hold some monetary value may be better managed by placing them in a Florida trust. Different types of trusts exist to hold property and shield it from probate, excessive taxation, exploitation, and loss. By placing assets in a trust, you can direct how they are used and preserved, saving them for your loved ones and protecting them from risk of seizure by creditors or lawsuits.Asset protection trusts are designed to protect even digital assets from excess taxation, misuse, and more. For example, if you own an online store that contains intellectual property for sale (writing or music for download as an example), this can be an ongoing source of income. Placing this digital asset in a trust allows your beneficiary to continue enjoying the profits of this property indefinitely, or however you leave instruction within the trust documentation.Digital assets in trust can also be left to specific beneficiaries who may better appreciate the assets and enjoy benefitting from them, preserving them for the future, and more.Get Help from a Wills and Trusts Attorney in TampaIf this is the first time you have ever considered your digital estate assets, now is the time to review them and compile a comprehensive record for your estate plan. Help from a Wills and Trusts Attorney in Tampa from Mortellaro Law can be invaluable as you seek to protect your digital assets and preserve them for future generations. Contact Mortellaro Law today to schedule an estate planning consultation and review your digital assets.

Seniors who require assistance with daily activities and qualify for Medicaid Long-Term Services and Supports often end up on waiting lists to receive home-based care or in community settings. This forces many to live in institutional facilities, isolating them from their communities and incurring significant costs.Benefits of Aging in Place and HCBS ActHowever, the Home and Community-Based Services (HCBS) Access Act, introduced by U.S. Sen. Bob Casey and U.S. Rep. Debbie Dingell, aims to change this by providing better funding and resources for seniors seeking care at home or in their communities. Not only does aging in place offer emotional and physical benefits, but it also saves money.Key Provisions of HCBS Access ActThe HCBS Access Act seeks to provide enhanced Medicaid funding, grant funding for states developing home care capacity, resources to ensure professional caregivers have stable jobs and wages, training for family caregivers, and improved quality evaluation. With the support of sixteen U.S. representatives and advocacy organizations for older adults, this legislation could make a significant change in bridging the gap between institutional and community-based care.Importance of Consulting with an Elder Law AttorneyNavigating Medicaids complex waiver programs can be daunting. Thats why consulting with an elder law attorney, who is well-versed in the subject, can help ease the process. The proposed Better Care Better Jobs Act is looking to provide additional funding to home care workers while also creating new job opportunities in the field. As the demand for long-term care continues to rise alongside life expectancy, this will be a crucial area of focus in the coming years.Investing in Home-Based Care for SeniorsBy investing in home-based care, not only can we support seniors independence and autonomy, but we can also create better job opportunities and support for family caregivers.Advocating for Our SeniorsThe HCBS Access Act and Better Care Better Jobs Act are steps in the right direction and can help improve the lives of senior citizens who need assistance. With adequate funding, training, and resources in place, we can ensure that our seniors have the care they deserve. It is up to us to make sure these initiatives become a reality and that seniors receive the quality care they are entitled toat home or in their communities. We must continue to advocate for our seniors and ensure their needs are met. Many of them have sacrificed for us, and it is time we do the same for them.

Estate planning looks different for every individual because so many elements are unique to the person. This is especially true when estate planning for business owners. Your type of business and its structure are only the beginning when determining how to protect your companys future and assets. An Estate Planning Attorney in Tampa from Mortellaro Law discusses estate planning for business owners and some key things you need now. Create a Financial Power of AttorneyEstate planning for business owners focuses on much the same concerns as estate planning for individuals. The unexpected looms large, and you need to enact measures to prepare for any eventuality. A Financial Power of Attorney is vitally important for Florida business owners. This legal document appoints a trusted individual to handle your financial concerns if you are incapacitated or die suddenly. Accidents, unexpected heath reversals, coma, dementia, and more can impair your ability to reason and make decisions. Your companys unique financial system demands a wise and experienced person to handle the transition when something happens to you. An attorney or other third party is often a great choice; they can be neutral and act as you would in the businesss best interests. Create and Regularly Update a Living Trust | Estate Planning AttorneyBusiness owners can own numerous assets that are vital to the companys operation. In fact, their absence may mean the failure of the business. A Living Trust can protect these assets and provide instructions for their disposition so the business can continue even after something happens to you. Keeping this vital document up-to-date is also critical, as circumstances can change often. A Living Trust is a legal document where you can name an individual or entity as the Trustee to manage the trust assets on behalf of your business. The assets are in the hands of a trusted person and can only be used to benefit the business. You can include instructions for selling them, investing them, or other directives as you choose. Sole proprietors especially need this legal protection because they are essentially the business. You want to protect any assets that are critical to your business operations. Create a Succession PlanA succession plan is a strategic blueprint for the seamless transition of your business management, ownership, and operations to successors or future generations. This vital aspect of business estate planning facilitates the smooth transition of your company to ensure its continued existence in a way that adheres to your original values and mission. Without a succession plan in place, battles for control and the companys assets are likely to ensure and destroy your legacy. Your succession plan spells out in advance who you trust to handle the business when you pass away or become unable to run it yourself. Larger businesses especially want to have this plan in place to reassure investors or other stakeholders that the company will continue on as before and that their investments are safe. Meet with a Business Estate Planning Attorney in Tampa There are other aspects of business estate planning that you need to consider, and a Business Estate Planning Attorney in Tampa can help you review your needs and create measures to protect your assets and legacy. At Mortellaro Law, we know business owners are busy people with full schedules. We can handle the details and legwork to help you protect your business and future while you work to grow your success. Contact Mortellaro Law in Tampa and schedule a consultation to discuss your business estate planning with an experienced attorney. Call us at (813) 945-6495 or request a consultation online at your convenience.

Life is quite a journey, and it is filled with surprises and changes. Joys, ups, and downs in different phases are all aspects of life. Many major events can require modifications to your Florida estate plan. Make time to see an Estate Planning Attorney in Tampa from Mortellaro Law if you encountered these seven life changes in 2023. Marriage | Estate Planning AttorneyThis joyous union often includes more than you and your spouse. You can also combine assets, insurance policies, retirement assets, property ownership, and more. Conversely, you may want to keep these things separate, especially if this is a second marriage. Different families and prior obligations may require adjustments to your beneficiaries, asset distributions, asset protection strategies, and more. Meet with a qualified Estate Planning Attorney in Tampa at Mortellaro Law to make the necessary changes immediately. DivorceDivorce may demand many similar adjustments as marriage. You and your former spouse must review property ownership issues, powers of attorney, beneficiaries, retirement accounts, insurance policies, and more to reflect new changes. Some financial ties may be severed while new ones are created. A newly modified estate plan should safeguard your assets and interests in light of the changes divorce brings. Contact Mortellaro Law today if you were divorced in 2023 and need to review your Florida estate plan.  Birth or AdoptionWelcoming a new family member through birth or adoption is cause for great celebration, but it also necessitates a fresh look at your estate plan. Adding a new beneficiary to your will, trusts, and other inheritance strategies is vital. You should also look into appointing guardians, creating new trusts, enacting powers of attorney, and making other financial provisions for their future. Mortellaro Law Estate Planning Attorneys in Tampa can help you review the options and choose the best ones for your situation. Death | Estate Planning AttorneyGrieving the death of a family member is deeply emotional and troubling, but it can also impact your estate plan. Was the person a beneficiary or your wills personal representative? Do certain elements need to be changed to reflect the loss of your loved one? Probate matters can become quite complicated if voids are left in your estate plan at the time of your death. Contact Mortellaro Law to review your estate plan if you suffered a loss in 2023. Sudden Health Changes We never know when health changes can threaten our lives and future, but when they do, they should be reflected in your health plan. You want your medical and financial wishes to be respected and observed no matter what happens. It may be time to consider completing an advance directive and naming a health care surrogate and other powers of attorney. You may also need to create or modify Medicaid strategies to plan for possible long-term care. Mortellaro Law can work with you to create these critical protections when your health takes a sudden downturn.  RelocatingMore and more people are relocating to the Sunshine State to take advantage of many benefits. State laws vary, including those governing your estate plan. Setting up your primary residence in Florida likely necessitates several changes to conform with state law and adequately protect your assets and future. An Estate Planning Attorney in Tampa can ensure your plan conforms with the latest laws and that you take advantage of all the protections to which you are entitled.  Debt or Asset Changes | Estate Planning AttorneyMajor acquisitions or losses have a huge impact on your estate plan. Every significant change necessitates a review to see what modifications are necessary. Financial realities change over time. If you had any substantial losses or asset changes in 2023, Mortellaro Law can perform a comprehensive review of your estate plan and recommend changes to reflect new realities. Align Your Estate Plan Aligns with Lifes Changes Life is always changing and so, too, should your estate plan. Marriages, divorces, births, deaths, health challenges, debt, asset changes, and more all must be reflected in your estate plan to prevent future headaches for you and your loved ones. If it has been a year or more since you reviewed your Florida estate plan, now is the time to get up to date. Contact an Estate Planning Attorney in Tampa from Mortellaro Law to schedule an estate plan review and lets discuss how the events of 2023 demand changes for the future.