January 2017 (v.17.01)

Florida Wills & Trusts

January 2017

(v.17.01)

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Legal Developments

Increased Federal Tax Exemptions (effective January 1, 2017)

Applicable Exclusion Amount: $5,490,000 (up from $5,450,000)

GST Exemption Amount: $5,490,000 (up from $5,450,000)

Gift Tax Annual Exclusion Amount: $14,000 (no change from 2016)

Updated Product Features

New Assisted Reproduction Option

A new “Exclude all post-mortem” option has been added to the assisted reproduction options. Question 1108

Revised “Short Form” Durable Power of Attorney

The “Use of Copies” provision has been added to the short form DPA as well as the option to indicate how you want attorneys-in-fact to act – by majority, unanimous or individually. Questions 1255 and 1276

New “Trustee Signing Certification of Trust” Question

A new question has been added as well as other minor question and text revisions to further clarify the creation of a Certification of Trust. New Question 1429

SOFTWARE UPGRADES

Note: The Lawgic software now works with 4K monitors.

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To view those questions that are new in this update, or where Law & Strategy, choices, or default answers have changed, use the "Up_1701" flag file. From inside Lawgic, open any existing answer file; on the Flags menu, click Open Flags, select the appropriate Title (click OK), and next select the "Up_ 1701" flag file (and click OK). To view all flagged questions, click Expand All on the Answers menu and scroll the Navigator. Flagged questions will be indicated with blue bold text.

Please continue to send us your suggestions on existing or new products. Contact our Technical Support Department at 1-877-2-LAWGIC (252-9442) or e-mail us at support@lawgic.com.