Page 10 - Stuart Exposure - April '20
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Page 10, Stuart Exposure

                                                            LegaL taLk




      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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