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Staying Ahead of the Game Become Diligent With Tax Deadlines
As the gentle warmth of spring arrives, so does the annual tradition of spring-cleaning. It symbolizes the transition from the cold, dormant winter months to the fresh, vibrant days of the new season. We throw open our windows, shake off the dust of the past, and breathe new life into our homes, spaces, and minds. While spring inspires renewal and rejuvenation, the anticipation builds for the beginning of baseball season. Baseball has always been a love of mine, and spring training reminds me to stay ahead of the game — both in spring-cleaning and life itself. “We must embrace this opportunity to fulfill our obligations and secure our financial futures, knowing that diligent attention to tax deadlines lays the foundation for a stable and prosperous year ahead.” Staying ahead of the game is not just about reacting to situations as they arise but also anticipating and preparing for what lies ahead. It requires a proactive mindset, a willingness to learn and adapt continuously, and the foresight to identify opportunities and challenges before they overtake us. Speaking of staying ahead of the game, now is the best time for clients to take advantage of our support to help secure their financial futures, including the upcoming tax deadlines. These deadlines are not just dates on a calendar but crucial milestones that can significantly impact financial stability. We must embrace this opportunity to fulfill our obligations and secure our financial futures, knowing that diligent attention to tax deadlines lays the foundation for a stable and prosperous year ahead. We also encourage you to inform us of any recent changes that may have occurred over the past year, such as estate plans, property sales, or tax considerations. We’ve designed our comprehensive plans to guide you through various life events, including divorce, special needs, or the passing of loved ones. We are here to support
you, even in moments of anxiety that typically arise around springtime. Each year in December, we send out reminders about estate plans, which are issued annually in December, coinciding with the holiday season, when the season of gifting rolls in.
Regarding gifting, when a taxable gift exceeds $17,000, clients should consult their CPAs and file appropriate
tax returns. Ensuring compliance with tax regulations and utilizing our resources for comprehensive planning remains a priority as we navigate the complexities of financial and estate management. Whether consulting tax professionals or utilizing available resources, such as our services, it’s crucial to prioritize timely filing to adhere to tax regulations. Let’s approach spring-cleaning with purpose and commitment, tackling each task with determination and attention to detail. We can ensure a brand-new start and minimize stress by keeping track of important deadlines, seeking professional guidance, and utilizing available resources. As we work through the complexities of tax obligations, let’s embrace this opportunity to secure our financial well-being and pave the way for a stable and prosperous future.
–Michael B. Hill
1 (239) 265-9779
APRIL 2024
Escape April Showers This Spring 3 Vacations Spots to Avoid Seasonal Gloom April showers bring May
streets where you can immerse yourself in the parades that travel through the city during Holy Week. Brass bands build up to a beautiful celebration on Easter, and just two weeks later, the Feria de Abril begins. This fiesta is full of lively parties, even more music, and colorful costumes. Sevillanos on horseback and the clacking footwork of flamenco dancers are captivating to watch, so don’t miss out by getting rained in. Malta Located to the south of mainland Europe in the Mediterranean Sea, Malta is part of an archipelago consisting of several islands, including Gozo and Comino. Because of its diverse cultures, you’ll hear Arab accents in the language as you pass Baroque architecture. Nature lovers, hikers, and landscape photographers alike can explore the rocky coastlines, impressive rock formations, and dazzling sea caves, such as the Blue Grotto (Malta), plus beautiful beaches like Ramia Bay (Gozo) and Ghajn Tuffieha Bay (Malta). However, the biggest advantage of traveling in Malta is that everything is in full bloom: green fields, blooming citrus trees, and beautiful flowers. If you go in spring, you’ll beat the tourists, too, as summer is peak season.
flowers, but you don’t have to stick around to wait for them to bloom. Escape to these three destinations and enjoy the new life of spring without the rain.
Amsterdam, Holland, Netherlands Why wait for May to see spring flowers?
All April long, Holland sports the most beautiful colors in the world, and people from all over the globe go enjoy the Keukenhof Garden Festival. This festival has occurred for 75 years, and as it’s only 30 minutes away from Amsterdam proper, you can experience the best of both worlds. Explore the thousands of tulips during the day and then spend time in the city, exploring the beautiful canals and shopping districts in the evening. Don’t worry if you miss the beautiful flowers; most of the city’s museums and hotels have tulips, too. Seville, Spain Embark on an enchanting journey to Seville, where vibrant culture and passion come alive. Picture yourself strolling through cobblestone
a n s E s t a t e P l a n E l e m e
In my 30-plus years of legal practice, I have had the opportunity to review numerous estate plans. New clients commonly express confidence in their plans based on previous attorneys’ assurances. However, upon closer examination and meaningful discussion, it becomes clear that these plans often fall short of achieving their intended goals. Here, I will outline a few missing elements of estate planning I’ve encountered. State-Specific Laws Each state has unique laws governing estate planning, and Florida is no exception. Matters such as testamentary document execution, permissible content, tax implications, marital property rights, disinheriting children, distribution to minor beneficiaries, Florida homestead disposition, and income and principal determination are critical considerations. Failure to address these could lead to unintended consequences. Many attorneys licensed in Florida overlook these crucial matters. 2 floridaestateplanning.com
IRA and 401(k) Plans The distribution of IRA and 401(k) accounts typically falls outside the purview of wills or trusts and is governed by beneficiary forms. Yet, I often come across estate plans where specific distributions are mandated by the will or trust, potentially leading to insufficient funds to fulfill intended bequests. Additionally, many plans miss income planning opportunities for beneficiaries. Income Tax Planning Many estate plans focus excessively on minimizing estate taxes, disregarding the current high federal exemptions. This can result in provisions that increase income tax burdens on beneficiaries. It’s essential to align planning strategies with the appropriate tax considerations based on individual circumstances. Estate Tax Planning For estates subject to estate tax or those owning real property in states with state-
level taxes, changes in laws and strategies necessitate regular review and updates to estate plans. Signs of outdated planning include tax formula language or plan execution dates. Failure to Align Assets With the Estate Plan Proper titling and coordination of assets with the estate plan are essential to avoid probate and ensure the plan’s effectiveness. Regular updates are necessary to maintain alignment, especially with changes in assets or circumstances. Addressing these common areas of concern is vital for ensuring your estate plan does what you intend. If any of these issues resonate with your situation, seek guidance from a competent attorney for a thorough review. Call Sheppard Law Firm today!
–Craig Hersch
In our fast-paced world, accessing the right resources can make all the difference in navigating life’s challenges effectively. Finding reliable and comprehensive resources is paramount when you face legal matters, seek personal development, or simply crave knowledge. Fortunately, our online learning platform offers diverse tools and materials to empower you on your journey. Sheppard Law is committed to providing the resources you need to thrive. Unlock Virtual Support Discover Our Online Learning Hub
Visit our Website’s Learning Hub to Discover a Plethora of Resources:
• • • • •
Engage with live and in-person workshops
Explore our informative blog
Stay updated with our monthly newsletter
Dive into insightful podcasts Watch educational videos
• Gain unlimited access to recommended books and other valuable resources • Find answers to common questions in our FAQ section
Don’t miss our landing page for upcoming events, where you can find details on directions to our learning center, as well as convenient
registration forms. Access all this and more on our website: FloridaEstatePlanning.com/learning-hub . Sheppard Law Firm is dedicated to supporting you on your journey.
G r i l l e d S t e a k
Savor the flavor with our mouthwatering grilled steak, paired perfectly with vibrant chimichurri sauce.
TAKE A BREAK!
INGREDIENTS
•
2 lbs steak (flank, sirloin, or skirt steak)
For the chimichurri sauce: • 1 cup fresh parsley, chopped • 2 cloves garlic, minced • Juice of 1 lemon
• •
2 tbsp olive oil 1 tsp red pepper flakes Salt and pepper, to taste
• •
2 tbsp olive oil Salt and pepper, to taste
•
DIRECTIONS 1. Preheat grill to medium-high heat. 2. Rub the steak with the olive oil, salt, and pepper.
3. Grill the steak for 4–5 minutes per side or until it reaches desired doneness. 4. Meanwhile, make the chimichurri sauce: In a small bowl, mix together the parsley, garlic, lemon juice, olive oil, red pepper flakes, and salt and pepper. 5. Let the steak rest for 5 minutes before slicing. 6. Serve the steak with the chimichurri sauce and enjoy!
ANSWER ON TOP OF PAGE 4
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(239) 265-9779
9100 College Pointe Court Fort Myers, FL 33919 (239) 265-9779
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INSIDE this issue
SUDOKU ANSWER
Tax Deadlines and Spring-Cleaning PAGE 1 April Escapes PAGE 2 Common Missing Estate Plan Elements PAGE 2 Visit Our Online Learning Center for Helpful Resources PAGE 3 Grilled Steak With Chimichurri Sauce PAGE 3 Protective Pup Takes a Bullet for His Owner — And Survives! PAGE 4
The best compliments we receive are your referrals. When you refer us to your loved ones, we do all we can to exceed expectations.
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In a heartwarming tale of courage and resilience, a pit bull named Kilo defied the odds after being shot in the head while bravely protecting his owner. The incident unfolded when an intruder invaded Kilo’s home. In a shocking turn of events, Kilo’s instinct to shield his owner led to a life-threatening injury, but “Super Pitty” survived, capturing many hearts, too. One Saturday evening 12 years ago on Staten Island, a gunman posing as a FedEx deliveryman rang the doorbell of Kilo’s home. He didn’t wait long before he pushed his way into the apartment. Kilo’s human, Justin Becker, told CBS, “He barged in. My first reaction after seeing the gun was to push him out, so I pushed him to the door.” Becker’s girlfriend, Nicole Percoco, had been holding Kilo during this encounter and let him go. Kilo jumped into action, fighting back against the invader, unfortunately getting shot in the fight. Luckily, the bullet just missed Kilo’s skull, entering and exiting right under his ears, said Dr. Gregory L. Panarello, the medical director of South Shore Animal Hospital. After a 40-minute surgery to remove bullet fragments, he was patched up and even given a superhero insignia on his bandage. Three days later, Kilo was up and going on every dog’s favorite pastime: walkies. Kilo’s story is a powerful reminder of the indomitable spirit of canine companions and the strength of their love for us. Even 12 years later, Super Pitty Kilo’s story still spreads love and happiness. Give your pet an extra cuddle tonight so they know just how much you love them!
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