By: Phillip B. Rarick, Esq., Miami Trust Attorney I am pleased to announce that we have published on our web site a quick and easy explanation of living trusts. Click here: Understanding Living Trusts. Note: A PowerPoint presentation will appear in your lower task bar; click the presentation. Every person…
Articles Posted in Miami asset protection attorney
Transfer of Florida Homestead to a Revocable Trust: Assessing The Risks and Benefits
By Phillip B. Rarick, Esq. and Ashley Fernald In Florida there is frequently the difficult issue of whether to transfer homestead to a revocable living trust. The client wants to avoid probate and therefore generally wants to transfer the homestead to the trust. However, since the Bosonetto case in 2001,…
Watch For This Scam: Corporate Records Service
By Miami Trust Attorney Phillip B. Rarick, Esq. Last year I reminded you of a state-wide corporate scam called Compliance Services. Well, they are at it again! Recently (approximately January 7-11, 2013) you may have received a letter that looks like an “official” letter from the state of Florida by…
After the Fiscal Cliff: Three Take Away Points For Estate & Gift Tax Planning
By Miami Trust Attorneys Phillip B. Rarick, Esq. and Jay R. Beskin, Esq. We averted one Fiscal Cliff. How does the new “Taxpayer Relief Act” passed by the Senate on New Year’s Eve impact estate and gift taxes for the American family? Here are three key points: 1. Estate and…
Standby Florida Elective Share Trusts
By Miami Probate Attorney Phillip B. Rarick, Esq. Florida’s elective share statute allows attorneys to draft standby Florida elective share trusts. (For a summary of Florida’s elective share see our post: Florida’s Sweeping Elective Share.) As of April 23, 2002, trusts that create property interests contingent upon an election being …
Asset Protection in Florida: Five Common Mistakes – Five Tested Solutions
By Miami Asset Protection Attorney Phillip B. Rarick, Esq. In our litigious society anyone can become a target of a plaintiff seeking to get a money judgment against you personally. In today’s real estate market, where it is usually impossible to negotiate with the lender, deficiency judgments are a major…
Beware of Florida Single Member LLC’s: Seven Ways to Avoid this Sand Trap
By: Phillip B. Rarick, J.D., and Jay R. Beskin, J.D. Miami Asset Protection Attorneys Background Summary: Last year in a blog we advised you that the “Olmstead Patch” – the Florida legislature’s attempt to fix a hole in the Florida LLC statute as a result of the 2010 Olmstead decision…
Moving to Florida: Tips On How To Avoid The Tax Traps
A common over-sight of persons moving to Florida is failing to take their trust. They may have packed their trust and taken it with them, but the trust situs remains in their original state. This is usually a mistake. The fact that a client has moved to Florida will not…
New Florida Durable Power of Attorney Law Makes Sweeping Changes
Introduction The Florida legislature recently enacted the “Florida Power of Attorney Act” (“FPOA”, Fla. Stat. §§709.2101-.2402), fundamentally overhauling existing law, and making sweeping new changes. Even though the new law recognizes durable power of attorneys (“DPA’s) executed under the prior law, we are advising clients to update their DPA, if…
FLORIDA GUARDIANSHIP QUICK REFERENCE GUIDE
By Phillip B. Rarick, Esq., Miami Probate Attorney Introduction The commencement of a Florida guardianship is typically used in two situations – either when a person may be incapacitated or when a minor receives assets in excess of $15,000. If a guardianship is sought because someone may be incapacitated, then typically…