Real estate attorneys and professionals are without a doubt familiar with the FIRPTA withholding rules on U.S. property sales and rental income for foreign investors. The technical term for such investors is “non-resident alien”; this is an investor who does not hold a green card and meets other requirements. Taxes…
By: Phillip B. Rarick, Miami Probate Attorney Executive Summary Failure to obtain court approval under Florida guardianship law of a pre-suit structured settlement exceeding $15,000 on behalf of a Florida minor child could result in the settlement being disaffirmed by the minor on reaching majority or within a reasonable time…
By Phillip B. Rarick Esq., Miami Probate Attorney The following documents are usually needed to open a testate Florida ancillary probate: Court-authenticated copy of: 1. Decedent’s last will 2. Petition for Probate 3. Order admitting the will to probate 4. Letters of administration Other documents: 5. Two Certified Death Certificates…
By: Phillip B. Rarick, Miami Asset Protection Attorney The Family Limited Partnership, (the full legal name is family limited liability limited partnership (FLLLP) is designed to accomplish asset protection, tax and non-tax goals. First, it provides protection from claims of creditors for the partnership assets. Creditors of a partner can…
By Phillip B. Rarick, Miami Asset Protection Attorney An increasingly popular off-shore asset protection jurisdiction is Nevis Island. Nevis has enacted modern, strong trust and limited liability company (LLC ) laws exceptionally difficult to penetrate by any creditor. For example, to attack an interest in a Nevis Island LLC, a…
By: Ruzy Behnejad Executive Summary In recent years, because of an increase in estate tax exemption amounts, the legal field of estate planning has seen a significant trend towards the drafting of irrevocable Spousal Lifetime Access Trusts (“SLAT”). These trusts are designed to preserve and pass on family wealth to…
By: Phillip B. Rarick, Miami Probate Attorney Note: This is a first in a series of short reports on the subject of avoiding elder abuse scams – a subject of considerable importance in south Florida. However, these reports are for persons of all ages. Example From Real Life: An…
By Phillip B. Rarick, Miami Probate Attorney Note: This is a short list of initial tasks for a person who may be appointed the Personal Representative (or Executor) of an estate under a Florida will, or if there is no will, in an intestate estate. This is not a complete list…
By Phillip B. Rarick, Esq., Miami Trust Attorney Executive Summary A Domestic Asset Protection Trust or DAPT is an exceptionally strong structure for protecting family assets. However, a Hybrid DAPT, developed by Nevada attorney Steve Oshins, can add another layer of protection that will make the DAPT even more imposing…
By Phillip B. Rarick, Esq., Miami Trust Attorney A common question we receive for persons who have prepared revocable living trusts is what do I do about title or registration for my cars. Unless your car is a Maserati or you have a collection of valuable old cars, here are…