THE FLORIDA DOMICILE HANDBOOK: VITAL INFORMATION FOR NEW FLORIDA RESIDENTS 5TH EDITION
The Florida Domicile Handbook provides insights into the significant advantages, and especially the financial advantages, of domiciling in Florida. During the current housing crisis, homeowners are alarmed to see the increases in interest rates and realty taxes raising their mortgage payments beyond their reach. Though some reductions in payments can be achieved by searching for special financing, opportunities for significant savings in this area are limited by prevailing money market conditions. More promising are the savings in reality taxes that are possible by changing domicile. Florida has recently enacted legislation through its Homestead Act that limits substantially the annual increases in realty tax. Florida is also one of the few states that has no income tax. These two incentives alone have been a major factor in creating the stream of new residents who have chosen to declare Florida as their principal residence. As the Baby Boomers retire, it is anticipated that this stream will grow into a flood. Anticipating this trend, the authors have written the most comprehensive book on the subject of Florida domiciling. It addresses a variety of topics including:
- Advantages of Florida domiciling
- Detailed steps to follow in achieving a Florida domicile
- When, where and how to buy a home
- Advice on how to find a good Realtor and lender
- Legal perspectives into laws affecting new residents
- How to register and insure cars and boats
- List of resources and web sites for staying healthy, including state programs, medical initiatives and healthcare coverage options.
- Estate planning advice
The lead author, Michael Kilbourn, is a well-respected national authority on estate tax matters and local expert on the complexities of Florida domicile. His co-author is Brad Galbraith, an attorney who has been certified by the Florida Bar as a Specialist in Wills, Trusts and Estates Law. Both men are Florida residents.
If you are considering relocating to a state in the sunshine belt with no state taxes, no winter, a cap on your realty taxes and a lifestyle of leisure and high living, The Florida Domicile Handbook is the ultimate resource on making it happen.
DISINHERIT THE IRS PAPERBACK
Disinherit the IRS is a well-written, easy-to-read and comprehensive estate planning and wealth protection guide that was originally published in 2001. It evolved in response to requests from fellow Americans who feared the fruits of their life’s work was under assault by a growing litigious society and tax hungry government. This updated 2014 edition will help you understand current estate tax laws and how they impact the most popular estate planning tools, including trusts and life insurance. You will also gain insight into lawful wealth protection strategies used by real families as well as vital information on how to leave your assets to heirs and favorite causes and not the IRS. Family wealth protection expert and author of Disinherit the IRS, E. Michael Kilbourn recruited estate planning attorney Brad A. Galbraith for the 2014 edition as an extra guarantee that every chapter reflects the most sound advice based on today’s laws. In this book, you will discover how to: remove assets from your taxable estate without losing control of them or the income they generate, make a profit by donating to charity, effectively exempt your entire estate from state taxes, avoid capital gains taxes on the sale of your appreciated property and eliminate state taxes on your assets at your death. In essence, you will learn how to leave what you have to whom you want, when you want and in the way you want while minimizing possible court costs, attorney fees and estate taxes.
The Four Corners: Where Your Estate Plan Becomes a Living Legacy
The Four Corners helps families explore how an estate plan can cultivate, create, and inspire. It’s about enduring and generative legacies-plans that emerge from your values and aspirations, and crafted to live and evolve across generations.
ON THE RIGHT PATH? CONVERSATIONS ON CREATING YOUR FINANCIAL FUTURE
On the Right Path: Conversations on Creating Your Financial Future is informative and insightful, whether you’re close to retiring or just beginning the planning process. Mitch Levin, MD, CWPP, CAPP interviews experts in the field and shares his own knowledge. The result is a valuable guide to help retirees live the lifestyle they want, with the peace of mind they need.
Attorney Brad A. Galbraith’s interview is featured in Chapter 3.
Mitch Levin, MD, CWPP, CAPP is known as the Financial Physician. He has achieved great success in both medicine and finances. He began as an eye surgeon who built his practice into a multi-state business including rehab centers and optical stores.
After selling that business and becoming a major philanthropist, Mitch then became a leader in financial services, building his firm into one of Florida’s largest. He is a Certified Asset Protection Planner and a Certified Wealth Preservation Planner.
Mitch is a national best-selling author and accomplished public speaker. He has appeared in The Wall Street Journal, Newsweek, USA Today and other national and local media outlets.
Family Limited Partnership Agreements Line by Line: A Detailed Look at Family Limited Partnership Agreements and How to Change Them to Meet Your Clients’ Needs
Written by an attorney whose practice focuses on the estate and tax planning needs of high net worth families, Family Limited Partnership Agreements Line by Line is a comprehensive examination of the contract provisions that make family limited partnerships such a powerful tax planning and asset protection tool. This publication includes in-depth explanations of the reasoning behind the various provisions in the agreement those that are crucial to the general partner, as well as those that simply make operations more predictable and efficient for all partners. The book covers such key topics as entity creation, ownership interests, capital contributions and capital accounts, allocations and distributions, entity management, transfers of general partner and limited partner interests, and dispute resolution. Family Limited Partnership Agreements Line by Line is a valuable resource for anyone who works with business owners and high net worth families, as well as those individuals who are interested in capitalizing on family limited partnership planning opportunities. This book contains a CD-Rom that features the PDF and Word versions of the final text of the book, which enables readers to manipulate the contract.
About the Author
Brad A. Galbraith is a partner in the Naples, Florida office of Hahn Loeser and Parks LLP and serves as the co-managing partner of the firm’s Indianapolis, Indiana office. He provides creative, cutting-edge estate, tax, and business planning advice to business owners and other wealthy individuals, and he is a frequent speaker and author on estate, tax, and business planning topics. He is board certified in wills, trusts, and estates by the Florida Bar Association and maintains his Indiana certified public accountant license.
Intentionally Defective Grantor Trusts Line by Line: A Detailed Look at Intentionally Defective Grantor Trusts and How to Draft Them to Meet Your Clients’ Needs
Written by seasoned attorneys whose practice focuses on cutting edge estate planning techniques that decrease transfer tax consequences, Intentionally Defective Grantor Trusts Line by Line comprehensively examines an irrevocable grantor trust and the provisions that must be included in order to adequately leverage the internal revenue code to assist in minimizing estate tax exposure. This book explains that when an irrevocable grantor trust is drafted properly, an individual is able to not only eliminate future growth from estate tax exposure, but can potentially eliminate any estate tax being owed on the asset being transferred to the irrevocable grantor trust. Specifically, the authors explain how through a sale of an asset to an irrevocable grantor trust in exchange for a promissory note, an individual is able to utilize discounts to immediately reduce the book value of the asset, protect future growth from transfer tax, transfer the asset without immediate capital gains tax consequences, and potentially completely eliminate the transferred asset from both the grantor’s and future generation’s taxable estates. Intentionally Defective Grantor Trusts Line by Line is a great resource for any professional who has sought to reduce a client’s transfer tax liability, as well as any individual who desires to transfer assets to future generations while minimizing transfer taxes and income and capital gains tax consequences.
About the Authors:
Brad A. Galbraith is an attorney licensed to practice law in Florida and Indiana, and maintains his Indiana Certified Public Accountant license. Mr. Galbraith is board certified in Wills, Trusts, and Estates by The Florida Bar Association, and practices in Naples, Florida and Indianapolis, Indiana.
Joseph O. Hankins is an attorney licensed to practice in Indiana, Maryland, and Virginia. Mr. Hankins graduated from George Mason University School of Law in Arlington, Virginia, and practices primarily in Indianapolis, Indiana.
David A. Ruben is an attorney licensed to practice in Delaware, Pennsylvania, and Florida. Mr. Ruben graduated from Penn State Dickinson School of Law, received his LLM in taxation from Villanova School of Law, and practices primarily in Naples, Florida.
About the Author
Brad A. Galbraith is a partner in the Naples, Florida office of Hahn Loeser and Parks LLP and serves as the co-managing partner of the firm’s Indianapolis, Indiana office. He provides creative, cutting-edge estate, tax, and business planning advice to business owners and other wealthy individuals, and he is a frequent speaker and author on estate, tax, and business planning topics. He is board certified in wills, trusts, and estates by the Florida Bar Association and maintains his Indiana certified public accountant license.