Monday, February 19, 2018
Business

Everyone — rich or poor — should have an estate plan

ATLANTA — More than 50 percent of American adults do not have an estate plan in place. The reasons people give for not having a plan range from being single to not being wealthy. Neither is a good reason, says Lisa Brown, an accredited estate planner, certified financial analyst and partner at Brightworth.

"Estate planning is important for everybody who has assets to their name and is a legal adult," she says.

There are three documents every adult should have, she says.

Power of attorney for finances: In the event that you are incapacitated, this document names someone to manage your financial affairs, such as arranging to pay bills.

Power of attorney for health care: Again, if you become incapacitated, this spells out your wishes for medical treatment and names the person or persons who can make medical decisions on your behalf.

A basic will: "Everyone should have a basic will, whether they have $5,000 or $5 million to their name," Brown says. "Without a will, the state … dictates how those assets are passed." Spouses may assume that their assets will go to each other, but they would be divided among the surviving spouse and the children, Brown notes.

When it comes to preparing these documents, you may be tempted to use a software package to do it yourself. If your assets are minimal, that may be fine, Brown says. But those with a reasonable balance sheet to their names should have an attorney draw up the packages, she says. Expect to spend at least $500 for basic documents and $1,000 to $3,000 for more complex situations, such as trusts and out-of-state property, she says.

Comments
The small gun shop that sold the weapon to the alleged high school shooter ‘closes indefinitely.’

The small gun shop that sold the weapon to the alleged high school shooter ‘closes indefinitely.’

The aftermath of the horrific mass shooting at Florida’s Marjory Stoneman Douglas High School has led to the closure of one small business.According to the Miami Herald, the owners of Sunrise Tactical Supply, the Coral Springs, Florida shop that auth...
Updated: 25 minutes ago
St. Petersburg set to rename main library after President Obama

St. Petersburg set to rename main library after President Obama

ST. PETERSBURG — Mayor Rick Kriseman is set to announce that the city’s main library will be renamed after former President Barack Obama.The announcement that the facility will be renamed after the nation’s first African-American president has been t...
Updated: 1 hour ago
More than 20 unlicensed contractors arrested after Pinellas sting

More than 20 unlicensed contractors arrested after Pinellas sting

DUNEDIN –– More than 20 unlicensed contractors offered to perform home repairs the past few days, but they didn’t know Pinellas County deputies waited with handcuffs to arrest them. At 11 a.m., Pinellas County Sheriff Bob Gualtieri will announce deta...
Updated: 2 hours ago
On deck in Rays ballpark quest: Tampa Bay’s business community

On deck in Rays ballpark quest: Tampa Bay’s business community

TAMPA — Columbia Restaurant owner Richard Gonzmart says he’s ready to put his checkbook where his heart is when it comes to supporting a Tampa Bay Rays move to Ybor City.So is the investment fund for the founding family of Ashley Furniture. So, it ap...
Updated: 4 hours ago
Next phase for the Tampa Armature Works: co-working office space

Next phase for the Tampa Armature Works: co-working office space

TAMPA — The mixed-use rebirth of the old Tampa Armature Works warehouse is proceeding in stages. First up: last month’s debut of the new ballroom, followed closely by the opening of more than a dozen vendors in the Heights Public Market food hall.YEA...
Published: 02/19/18

Open-mic night at Pilars is a hot spot for Disney talent

WINTER GARDEN — At the end of the day, when the tourists are gone, Disney performers head out to their favorite spot to keep on singing after their shifts are over. Every Thursday, they perform at open-mic night at Pilars, a Winter Garden martini bar...
Published: 02/18/18
Here’s how to separate the fund raisers from frauds among gofundme pages

Here’s how to separate the fund raisers from frauds among gofundme pages

Gofundme.com pages proliferated almost as soon as cops took Nikolas Cruz into custody after Wednesday’s 17-death massacre at Marjory Stoneman Douglas High School in Parkland. Donors must parse the funding pages from the fraudulent.Read More: 17 dead,...
Published: 02/18/18
Suffolk tops off Manor Riverwalk project

Suffolk tops off Manor Riverwalk project

Building contractor Suffolk topped off the north tower of its Manor Riverwalk project on Friday.The luxury rental community will replace the old Tampa Tribune building at 202 S Parker Street. Once complete, the project will include an eight-story wat...
Published: 02/16/18
Updated: 02/18/18
Trump administration recommends stiff penalties on steel, aluminum imports

Trump administration recommends stiff penalties on steel, aluminum imports

The Tampa arm of Brazilian steelmaker Gerdau S.A. was cautiously optimistic Friday after the Trump administration took a big step toward a policy Gerdau has been vocally advocating for — higher tariffs on imported steel. "We’re hopeful that President...
Published: 02/16/18
Facebook forges ahead with kids app despite expert criticism

Facebook forges ahead with kids app despite expert criticism

Associated PressNEW YORK — Facebook is forging ahead with its messaging app for kids, despite child experts who have pressed the company to shut it down and others who question Facebook’s financial support of some advisers who approved of the app. Me...
Published: 02/16/18