Page 10 - Stuart Exposure - April '20
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Page 10, Stuart Exposure
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Protect That Inheritance! this $1,000,000 would be exposed to their creditor. inheritance from being reached by this creditor.
Instead, imagine that this same $1,000,000 was left to This exposure to “creditors and predators” for your
By Ryan C. Abernethy your child in a trust which he or she could even manage child in this example is not limited to automobile
One critically important for his or herself – thereby giving the child substantially accidents. A failed marriage or risks associated with a
aspect of a thoughtfully similar access to their inheritance as if it were left to them child’s profession are other examples of situations where
designed estate plan outright. an outright inheritance could be exposed. This is one of
is “how” assets are Alternatively, staged distributions to the child can still many reasons why contacting an experienced attorney to
passed downstream to be used where a portion of the assets is “turned-over” to design an estate plan that fits your individual needs is so
beneficiaries. Too often in the child’s control upon reaching certain ages –however, important.
our practice we come across any portion that is controlled by the child would be still Ryan C. Abernethy, Associate Attorney and Counselor
estate plans that stipulate held in trust (managed by the child as trustee). at Law at Abernethy Law Group, 130 S. Indian River
that a child’s inheritance In this scenario, the fact that you executed a Drive, No. 201, Fort Pierce can be contacted at (772)
pass to him or her outright thoughtfully designed estate plan will protect your child’s 489-4901 or rabernethy@abernethylawgroup.com.
immediately upon death, or
over time with outright “staged distributions” occurring
upon the child attaining certain ages (a portion distributed reaL eState
to the child at age 30, another portion distributed at age
35, etc.).
For obvious reasons, leaving an inheritance outright
to an heir who lacks the ability or maturity to effectively Treasure Coast Real Estate previous January. This is despite the fact that there are
manage assets for his or herself (due to age, life fewer homes for sale.
circumstances, etc.) would be inappropriate and Report After the emergency rate cut, the average 30-year
potentially damaging to that heir. However, outright fixed-rate mortgage hit a 50-year record low of 3.29
transfers to an heir who does display the maturity to Record Low Mortgage Rates Are Prompting percent. Between the coronavirus and the stock market,
manage the inheritance on their own can be just as More Home Sales it is anyone’s guess what will happen, but nobody is
harmful. By Jim Weix predicting a housing market crash.
Leaving assets outright to an heir exposes these If you are renting, it Many people smarter than me predict that the
inherited assets to the heir’s present and future creditors. is time to stop throwing Feds will be doing more rate cuts. (This article is
Imagine a situation where a $1,000,000 inheritance is left your money away, and written a month before it is published.) After the half-
to a child outright immediately (or to the child through buy a home or condo. percent rate cut, it was 1 to 1.5 percent. Wall Street is
outright staged distributions) and the child subsequently If you are thinking of predicting it could be cut to 0 percent!
became involved in an automobile accident where their selling, now is the time Although real estate price increases are leveling
liability in the accident exceeded their insurance coverage to do it. off, we are still seeing increases. Right now, investing
limits. Unless the child took some action on their own Even before the in a home certainly looks less volatile than the stock
accord prior to the accident to “protect” this inheritance, emergency rate cut of market and is definitely better than a Certificate of
a half-percent by the Deposit paying a half-percent.
U.S. Federal Reserve Jim Weix is a Broker Associate with The Keyes
on March 3, homes sales Company. Jim has 24 years of experience selling real
on the Treasure Coast have been up dramatically. In estate full time. If you have questions or want the
January they were up 25.2 percent in Martin County services of an experienced expert, you can reach Jim
April 22 and 22.2 percent in St. Lucie County, compared to the at (772) 341-2941 or jimweix@jimweix.com.
April 22
Pet Matters
by Pat Deshong, President of Furry Friends Each Furry Friend comes to us with his own characteristics.
Adoption, Clinic & Ranch Loving or aloof, fearful or confident, socialized or disassociated,
we take them in, assess their needs, and give them what’s
necessary to thrive with their future families. And if their stay
with us happens to be extended, we give them the best life
"For the Love of Animals" features possible while seeking their perfect furevers.
real stories happening at Furry Friends Times are especially difficult in our world today as we all try to
in Jupiter. We are The Humane Society remain physically, mentally & financially healthy. Please remember
of Greater Jupiter/Tequesta and the that the plight of so many needy animals only increases during such
only no-kill shelter open to the public times and that Furry Friends is a not-for-profit that relies primarily
in northern Palm Beach County. We’ve on your donations to survive. We need your help now more than
been rescuing, rehabilitating, and re- ever. If you are unable to donate financially, please volunteer,
homing the homeless animals in our foster, bring your pet to our veterinary clinic and shop at our thrift
community for more than 30 years. boutique.
Our not for profit 501c3 organization When considering adding a furry family member to your
consists of our Jupiter based Adoption family, please visit our Palm City Ranch at 4841 SW Zarrella
Center, Veterinary Clinic (open to the public), Thrift Boutique, Street or our new Jupiter Adoption Center at 100 Capital Street
and Palm City Ranch. in the Jupiter Commerce Park. Both locations are open 7 days a
week from 10am-4pm.
Blessings to you for your support and faith in us… all for the
LOVE of animals!
Patricia Deshong, President
This is what Furry Friends is all about…rescuing, rehabilitating,
Look at adorable Bones, appropriately named for the slender and giving homeless companion animals their best future… no
physique he had upon arrival at Furry Friends in August 2016. matter how long it takes to find it. We invite you to come visit us!
He was a little fearful at first, likely due to an unsettled past. One Our website is www.furryfriendsadoption.org.
foster and one adopter later, Bones found himself back at Furry Furry Friends depends on the generous support from donors
Friends in June 2019. He had actually lived with his adopter for like you. Without Furry Friends, the future of the many animals
more than two years before being returned! we save would be uncertain. Thank you for donating and helping
Sandy, a Furry Friends volunteer, took a special interest in us continue our animal saving mission.
Bones, taking him to her house and on field trips to enhance his Ways to donate (tax ID #59-2111273):
socialization. Bones blossomed with her attention and learned 1. Mail a check made payable to Furry Friends to 401 Maplewood
how to trust. We are so thankful to our volunteers and fosters Drive, Ste. 8, Jupiter, FL 33458.
for all they do, this story being one of the many reasons why. We are now fully open at 100 Capital Street in Jupiter however 2. Visit www.furryfriendsadoption.org
Bones hit paydirt in September 2019 when he was adopted we still need your help! If you would like to be a part of our 3. Call us with your credit card information at 561.747.5311 ext. 3
by a family in Vero Beach. He is now a loving, outgoing dog new chapter, please visit www.furryfriendsadoption.org or call “Your donation creates the possibilities to make miracles
who runs the family farm and practices his herding techniques 561.747.5311 ext. 3. Stay tuned for our Grand Opening details. happen for our Furry Friends”
with the chickens.
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