Sometimes, children want pieces of a collection, but many times they do not or they want pieces that have significantly different values.

Putting children in charge of selling an art collection that they did not collect and do not know much about can create problems for the estate. The children parsing a valuable art collection could be forced to spend time and money understanding the value of a collection that the collector should have documented and settled long before passing it along.

A conversation with an estate’s beneficiaries needs to be open and honest. Children and grandchildren who are not in a similar financial place as their parents may fear that inheriting a $2 million art collection will affect the amount of cash they inherit.

An important first step is to determine whether the beneficiaries want the collection at all. If the pieces are large or require extra insurance, they may be more of a burden on children or grandchildren. If each of the beneficiaries wants a smaller, less valuable piece, then the rest can be donated or sold upon the owner’s death. All of this can be arranged beforehand so that the beneficiaries understand what will happen and will be less likely to squabble over the details. They also will not be saddled with the financial responsibility of determining the value of the pieces and finding a company to auction them off.

Children also may be naturally drawn to art with drastically different values. Managing the difference is something that should happen early in the estate planning process.

It is almost always a bad idea to allow children to try and “share” a piece of art. Whether it is a valuable musical instrument or a statue or a painting, sharing valuables usually ends with strained relationships.

Collections that should stay together can be tricky to handle if there are multiple beneficiaries to consider. If it makes sense to keep the collection intact, then selling it intact may be the best option unless there is a beneficiary who wants to keep it and the rest of the estate can be balanced to make up for it.

Putting the art in a trust can be considered just like people do with real estate as long as everyone stars on the right side of the IRS.

Art can be a beautiful thing to pass from generation to generation. It can be a more contentious piece of the estate because there are values combines with emotions. People will get every bit as emotional about artwork that they will about a piece of property or a vintage automobile.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon estate planning lawyer, call 813.654.5777 or visit Brandonlawoffice.com.

“It is not a shock that the courts decided to do away with this program,” said Tampa bankruptcy attorney Reginald Osenton. “There are a lot of people who would rather walk away from their house than sit across the table from a banker.”

The program’s goal was to address the large number of foreclosures stacking up in the Florida courts by looking for other options for borrowers who were no longer able to pay for their homes. But since fewer than half of delinquent borrowers ever responded to the mediation efforts and only about a third of those who responded went through with the program, it had a low rate of success.

“There are still good options for people who want to go through mediation. There are still some lenders who are willing to listen,” Osenton said. “Bankruptcy can be an option that will put a family back on the right track.”

There were many reasons the state program did not survive. Many homeowners who stopped paying their mortgage moved away and dropped off of the radar. Other delinquent borrowers may have already worked out a deal with their lender. Still more borrowers may have simply stopped looking at the mail or answering the phone under a crush of bills.

“Talking to a bankruptcy attorney ends up being one of the best decisions people make,” Osenton said.

To learn more visit, http://www.brandonlawoffice.com.

Brandon estate planning lawyer Reginald Osenton reminds his clients to keep all of their passwords for their digital accounts in a safe place that his firm can find when the time comes.

“There is so much information stored not just on our clients’ computers but also in the cloud under our clients’ names,” Osenton said. “It is critical that we work closely and frequently with our clients so that we know exactly what their digital world looks like so that we can take proper take care of it when they pass.”

Careful estate planning means a thorough understanding of what each client has on their computer that can be considered an asset or a liability.

“Many clients do not think about the information that they have stored as being part of their estate, but it truly is,” Osenton said. “There may be things on a computer that could leave the estate liable if the family gives the machine away and it is found by the wrong entity. There are photos and intellectual property that should be considered assets of the estate.”

Osenton said it is important to hire an attorney with experience in estate planning in a digital world because they are going to know the right questions to ask and the right places to look to protect the estate.

“It is important to do frequent check ups with an estate planner to update the plan to include any new accounts or passwords that will be seen as valuable to the estate,” he said.

To learn more visit, http://www.brandonlawoffice.com.

In dumping the program, Florida Supreme Court Justice Charles Canady wrote, “The Court has reviewed the reports on the program and determined it cannot justify continuation of the program.”

A statewide report produced in January 2011 showed barely six percent of homeowners engaged in the mediation program were able to resolve their mortgage problems, according to the Palm Beach Post. The state study revealed that mediators were able to contact borrowers referred to them by the courts less than half of the time. Among those contacted, barely a third bothered to come in for a session.

There are 20 Circuit Courts in the state. Only seven of those courts were included in the report. Some had not been using the program long enough to have results that could be studied.

Mediation experts told the Palm Beach Post that many borrowers may have ignored the solicitation from court mediators because they already had a deal worked out with their lender. Other borrowers may not have replied because they were simply overwhelmed with letters and phone calls or they left town.

The mediation was paid for by the banks at $750 per case, but the borrower had to take foreclosure counseling and divulge all of their financial information. That proved to be a stumbling block for the program because many borrowers did not want the bank to know that much about their finances, according to the story in the Palm Beach Post.

Possible settlements through mediation included short sale, deed-in-lieu of foreclosure or, in a best-case scenario, a loan modification. By most accounts, the program failed to provide financial relief to homeowners and it struggled to move logjammed foreclosure cases through the system.

The chief justice’s order included a reiteration that the court’s job is “prompt and efficient administration of justice.” To that end, the order included language that said Circuit Court judges must “…adopt or employ any measures permitted by statute or court rule to manage pending and new residential mortgage foreclosure cases, including referral of cases to mediation on a case-by-case basis.”

The fate of the short-lived program had been known for months. According to the Miami Herald, a task force of judges recommended ending the program in October because of its poor success rate.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon bankruptcy lawyer, Tampa bankruptcy lawyer, or Tampa bankruptcy attorney, call 813.654.5777 or visit Brandonlawoffice.com.

The provision allows a surviving spouse to claim any exemption not used by their deceased spouse on their own estate tax return. Since the exemption in 2011 was $5 million, a widow left with a $3 million estate owes no taxes. But then when the widow passes, the remaining $2 million can be added to the same $5 million ceiling. This means the widow’s estate is exempt for up to $7 million, according to Forbes.com.

This portability of estate exemption is simple compared to the tax maneuvers some estates attempt to avoid these taxes, and it was praised by tax lawyers upon signing. Unfortunately, the portability option concludes at the end of 2012, so it is only helpful to people who happen to lose a spouse in this calendar year.

In rare cases, someone who is terminally ill could use the portability option but even then it’s still guesswork. The new law also complicates taxes for the surviving spouse if he or she decides to remarry one day.

So, while the sentiment from Congress was well-received in the estate law community because it addresses one of that group’s significant concerns, the portability provision is almost unusable because it sunsets so quickly, according to Legalnews.com.

For now, the portability option will mean lots of paperwork for the IRS. As Congress’ new rules mean fewer estates have to pay taxes, the new law encourages more estates to file tax returns even if they don’t owe, according to Forbes.

So all surviving spouses this year have to file an estate tax return regardless of whether they owe or they lose the portability option forever. Estates have nine months to file an estate tax return and many miss that deadline.

Legislators could agree in 2012 to extend the portability provision in the estate tax law, or they could rewrite the whole thing. Forbes reported that the President has proposed bringing the estate tax laws back to where they were in 2009 when there was a $3.5 million exemption and a 45 percent tax rate.

Congress is notoriously unpredictable when it comes to drafting estate tax law. In late 2009, the U.S. Senate failed to vote on a bill that would have fixed a scheduled expiration of the tax. That meant there were no federal taxes on estates in 2010, according to Businessweek.com.

At the end of 2010, Congress passed the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act. This is the law that brought the exemption to $5 million and introduces the portability option.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon estate planning lawyer, Tampa estate planning lawyer, or Tampa probate attorney, call 813.654.5777 or visit Brandonlawoffice.com.

Orlando Sentinel columnist Scott Maxwell analyzed the proposed Florida House and Senate bills in a mid-November article claiming the bill would benefit “…wealthy men who cheat on their wives.”

A pro-reform group called Florida Alimony Reform claims the Sunshine State’s laws are draconian and out-of-touch with modern society. According to the group’s website, “Because of [antiquated] laws and attitudes, it is common for healthy, employed women in their 30s and 40s to receive permanent alimony.”

Versions of the bill were introduced by State Sen. Miguel Diaz de la Portilla of Miami and State Rep. Ritch Workman of Brevard County, both Republicans. Maxwell pointed out in his column that Workman introduced the bill only about a week after his own divorce became final.

The proposed law would dramatically affect family law. HB 549 and SB 748 both have provisions that limit alimony’s duration as a function of the length of the marriage. “Lifetime alimony” is a sticking point among proponents of change. The new law could end alimony upon reaching retirement age and cap alimony at 20 percent of the payer’s income.

Workman admitted in Maxwell’s column that the cap would likely be removed. Some have called it unconstitutional.

The proposed law would allow people currently paying alimony to petition the court to modify their agreement based on the new law and would prohibit the use of a payer’s new spouse’s income as part of a judgment.

Workman told Maxwell the Florida proposal was inspired by and modeled after sweeping reforms passed by the Massachusetts Legislature this past summer. The highlight of the Massachusetts law is limits to the length of time alimony must be paid. But now divorced spouses in Massachusetts can have their payments ended by a judge if they move in with another partner even if they do not get remarried.

The Massachusetts law also has inspired proposed legislation in New Jersey. News outlets including ABC News and the Huffington Post are covering the trend of state alimony reform.

If the Florida bill were to pass with the provision that allows courts to look at previously decided judgments, it opens the doors for many cases to get a fresh look.

Workman told Maxwell he has already reconsidered some parts of the bill. The Florida Legislature begins its 2012 session Jan. 10.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon family law attorney, Tampa divorce lawyer, or Tampa divorce attorney, call 813.654.5777 or visit Brandonlawoffice.com.

In most cases, the spouse of the deceased will be left with everything after all of the debts and taxes are paid. This changes the old Florida law that split the estate among the surviving spouse and the surviving children.

In the event that the deceased had children who are not descendants of the surviving spouse, they will now get half of the remaining estate, according to Florida law.

These rules could mean an increased number of lawsuits filed by family members who claim to know the intent of the deceased despite the lack of a will. Since the laws changed, wills that had not been amended since the new laws went into effect will come under closer scrutiny.

The two most significant changes to the law concern the change in the surviving spouse’s inheritance and the court’s ability to change a will if someone presents a case that the will does not represent the intent of the deceased.

If the deceased had no will, then the surviving spouse now will inherit the entire estate if all of the children belong to both the deceased and the surviving spouse. Previously, the surviving spouse would get $60,000 and the other monies would go to the rest of the estate. Portions of the old law continue to apply if there is a surviving child outside of that marriage.

The other significant change in Florida probate law that went into effect this year allows the court to change the will – even if it was unambiguous – if the interested party can prove the intent of the deceased was different from what was in the will.

This could potentially open the doors to many new lawsuits. The law change even says, “In determining the testator’s original intent, the court may consider evidence relevant to the testator’s intent even though the evidence contradicts an apparent plain meaning of the will.”

Probate in Florida includes paying the debt of the deceased as well as taxes and, in some cases, funeral expenses. This occurs before the family or other heirs receive their inheritance. Often this process takes as long as a year (or more) and is handled by Florida circuit courts.

An experienced attorney can help put together a will that serves the exact wishes of a client. But that will needs to be revisited annually to make sure that it is still up to date. In many cases, the attorney can develop an estate plan to minimize probate or avoid it entirely.

Brandon estate planning attorney Reginald Osenton has experience helping clients develop wills, trusts, living wills and power of attorney documentation. He also has experience in helping clients avoid probate, or in helping family members probate estates throughout Florida.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon estate planning lawyer, Tampa estate planning lawyer, or Tampa estate planning attorney, call 813.654.5777 or visit Brandonlawoffice.com.

A divorce can be emotionally exhausting and can make the holiday season practically unbearable. All of this can be unfair to the children of a divorce. But there are some things to keep in mind as the holidays approach that can help calm the storm.

Here are five tips to help your children enjoy the holidays and help you survive through January.

1. Have a strategy. As much as possible, plan out where everyone will be and when so that your children will know what to expect and the other parent can plan his or her schedule as well. Be on time with planned phone calls and pick ups and drop offs.

2. Stay connected. Keep in touch with the other parent so that you are not overlapping gifts or giving the children presents that are forbidden to have. It is important to know what is going on with the children when they are not with you in order to be a good parent to them when they are with you.

3. Focus on the children. Remember that the children like parties and presents and seeing their cousins that they only get to see a couple of times a year and they should get to enjoy that. Try to surround young children with things that they know – especially if this is the first holiday since the divorce.

4. Be positive. It will hurt your ability to negotiate with the other parent if it gets back to them that you have been speaking unkindly about them. Since your family will be around the children, too, remind them to stay positive about your children’s other parent in front of the kids. It may be your dad’s instinct to make remarks about the other parent under his breath. Or it may be in your sister’s nature to want to discuss all of the details of how the marriage ended. But it is your job to tell your family that all comments about the family around the kids need to be upbeat.

5. Start some new traditions. Your children will miss the old traditions you had as a family. That is natural and you may miss them, too. But use this as an opportunity to start some new celebrations. Let your children help to design some of these new holiday rituals so that they can take some ownership of them.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon child custody attorney, Tampa divorce lawyer, or Tampa family law attorney, call 813.654.5777 or visit Brandonlawoffice.com.

Family law judges consider many things when they decide on child custody matters. They want to take into account all the factors that lead to the best interests of the child. This includes:

The child’s age
The child’s current routine with school and activities
The child’s preference, particularly if they are in their teenage years
The potential emotional and social impact of the custody arrangement
Any special medical or educational needs
A parent’s lifestyle, stability, financial status, and health to provide for the child
The current child-parent relationship

Sometimes a judge will request that a guardian ad litem, custody evaluator, mental health professional, or a social worker should evaluate the parents and child to provide the family law courts with the best recommendation for the child. Once a decision has been made, this will affect the child custody and parenting agreement. It is important to get clarification regarding any parts of these documents that are unclear to you as a parent. Months and years down the road, you do not want to be accused of violating these orders because something was vague and you could not quite meet the requirements that were laid out.

Violating the child custody or visitation orders can cause you to be in contempt of court, allow the other parent to have “make up” visitation time, and can even involve the guilty parent having to pay for attorneys’ fees or face jail time. Parents are allowed to modify these agreements as the child grows and various life events necessitate a modification of the custody or parenting schedule. What is most important is to work out any future changes with your ex in a rational manner. Withholding visitation to get back at your ex hardly does any good as your child then becomes caught in the middle of the crossfire.

Brandon child custody attorney Joshua Law is with Osenton Law Offices, P.A. in Tampa Bay and as a children’s rights lawyer, he looks out for the child’s best interests in divorce cases. If you need a Brandon divorce lawyer, Brandon child custody lawyer, or Brandon family law attorney, call 813.654.5777 or visit http://www.brandonlawoffice.com/.