Florida Trust & Probate Attorneys Blog
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Here is an updated calculator from Turbotax: Stimulus Check Calculator
When Will Checks Arrive?
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Unable to Fulfill Your Contractual Obligations Due to Covid-19?
By: Jacqueline R. Bowden Gold, Esq. and Phil Rarick, Esq.
The Coronavirus has left the US economy in a stand still. It has forced businesses to shut down and events to be cancelled or postponed across the nation – creating significant anxiety for small business owners. During these times, many businesses are unable to or fear they will become unable to fulfill their contractual obligations.
Here is a term you’ve probably heard before but never paid much attention to: Force Majeure. If you are unable to fulfill your contractual obligations or are worried that the obligor (the person who has a duty to perform) under an existing contract will not perform, Force Majeure is an important provision to look for in your contract.
14 Point Estate and Asset Protection Plan Checklist for An Unprecedented Year: 2020
By Phil Rarick & Jacqueline Bowden Gold, Estate & Business Law Attorneys
______#1. Coronavirus Check Calculator. Here is a simple, handy calculator describing who qualifies for the federal pandemic legislation checks and determines the amount of the check. Click here: Coronavirus Checks Calculator
When Will Checks Arrive? Secretary Mnuchin said that direct deposits will start going out April 17 followed by checks in the mail. It is not clear how long it will take the Treasury Department to get these checks out by mail – some experts caution it could take weeks or months.
Coronavirus Checks Calculator & Relief Package For Small Business
By Phil Rarick & Jacqueline Bowden Gold, Miami Lakes and Weston Business Law Attorneys
First, I want to share with you this simple, handy calculator that appeared in the Washington Post describing who qualifies for the federal Pandemic legislation checks and determines the amount of the check.
Click here: Coronavirus Checks Calculator
8 Point “Porcupine” Asset Protection Strategy
May the odds be with you –but frankly they’re not. More than 60% of doctors over the age of 55 have been sued at least once, according to a new survey by the American Medical Association (AMA). Doctors are not the only professionals at risk. Virtually all small business owners and professionals face multiple risks from the person injured at a party on one of your properties, the “friend” who borrows your jet ski and hits a swimmer, dissatisfied customers, disgruntled employees, and unhappy ex-partners.
It is a simple reality: We live in a hostile legal environment, and the chance you will not face costly litigation at some point in your career is not good. The good news is that you can fight back. Here is a quick summary of our “Porcupine” Asset Protection Strategy with tested legal strategies that can help protect your investments and property.
- Make Your Assets As Unattractive as Possible to Attack with a Good Asset Protection Strategy
10 Point Checklist For Florida Corporate Entities
By Phillip B. Rarick, Miami Lakes and Weston Estate Planning Attorney
Note: This 10 Point Checklist is for those persons who have interests in one or more Florida entities, such as a corporation, limited liability company (LLC), or limited Partnership (LP).
1. Annual Fees. In January the State of Florida will send notices via email reminding you that annual fees for each corporate entity are due no later than May 1. Do not wait to get an email notice from the state, as your fees are due regardless of whether you get a notice. Remember: The deadline to pay these fees is May 1 without penalty.
The Problem With A Florida Professional Association
Big Question: Can your practice survive if you suddenly die or become incapacitated?
Recently, a highly respected physician suddenly died owning 100% of his practice in a Professional Association. No other person was listed on Florida’s Sunbiz.org as an officer. Payroll was paid on a weekly basis. Even though the Professional Association had been assigned to the doctor’s living trust, the bank (a large Florida bank) refused to give the successor trustee access to the Professional Association’s bank accounts citing F.S. 621.06, 621.09 and 621.11.
The statutes cited limit ownership of a P.A. to a licensed professional. We contend the Bank’s interpretation is overly narrow because no court has held that transfer of any interest to a living revocable trust is a transfer of beneficial interest. A living revocable trust is essentially the settlor. Although we believe the bank’s interpretation of these statutes is wrong it is not worth fighting the bank. The bank holds all the valuable cards: the King, the Ace and of course all the money.
FLORIDA COUNSEL NOTICE: FLORIDA DEEDS
By Phillip B. Rarick, Miami Trust Attorney
Although the main focus of our Florida Counsel Services is probate, trust, and corporate law, we can assist your office if you need deeds to a trust or other entity.
If you wish to use our deed services, click FLORIDA DEED INTAKE FORM. Please complete this form with all relevant information and email it to cmedina@raricklaw.com.
Business Dispute Resolution without War
By Phil Rarick, Esq.
Here is a simple fact: most small businesses cannot afford or even survive a major dispute between partners if the dispute ends up in court. Such disputes can doom the small business due to interruption of the company business, distract the principal partners from focusing on growth, and soak up all capital needed to sustain the company.
The following are 5 Take Away Points for avoiding court intervention in your business: