12 Point Wealth Protection Checklist For 2024
By: Phil Rarick & Jacqueline Bowden Gold, Estate & Business Law Attorneys
Note: Rarick & Bowden Gold’s mission is helping all families protect their hard-earned wealth regardless of size – we provide basic estate planning for families with modest savings and advanced planning for those with substantial wealth.
Asset Protection Checklist For Married Professionals
By Phil Rarick, Esq., and Jacqueline Bowden Gold, Esq., Miami Asset Protection Attorneys
If you have creditor threat, do you know what assets are easily exposed to creditors? Do you know what assets are already protected by Florida law? Take this three minute survey for a quick assessment.
Asset Protection Checklist For Single Professionals
By Phil Rarick, Esq. & Jacqueline Bowden Gold, Esq., Miami Asset Protection Attorneys
Florida has good laws to protect your business, real estate investments, and equity investments. Are you taking advantage of these laws? Take this three-minute survey for a quick assessment.
Curve Balls to Watch for In New Florida Trust Director Law
By Phillip B. Rarick, Miami Trust Attorney, and Hannah S. Rarick, J.D. Candidate
Effective as of last year July 1, 2021, Florida is now 1 of 15 states to enact the Uniform Directed Trust Act (FUDTA), F.S. §§736.1401 to .1416, that allows a third party other than the Trustee to take over some part of the trust administration – such as supervision of a small family business. This third party is called a Trust Director (or directing Trustee) in the new statute; but is also commonly referred to as a Trust Advisor under prior law or Trust Protector in other jurisdictions.
By Phillip B. Rarick, Miami Trust Attorney and Hannah S. Rarick, J.D. CandidateFlorida’s short 6-month statute of limitations on a trust accounting can be a sand trap for the qualified beneficiary of a Florida trust. Here are some quick tips based upon our years of experience as Miami Trust attorneys.
It is no surprise that Florida is different from the other 49 states. What is confusing to some probate attorneys outside the state is Florida’s unique Procedure for “Probating” Homestead Property. Pursuant to Florida Statute 733.607, protected Florida homestead property is not considered a probate asset, so why does it usually require a probate proceeding?
First, we must define what is homestead. Homestead is real property, of no more than 160 contiguous acres outside a municipality, or no more than one-half of an acre of contiguous land in a municipality, owned by a natural person, and the improvements on it. Art. X, §4(a), Fla. Const. In addition, to qualify for homestead it must be the decedent’s primary or permanent residence prior to death and the property must be owned by a natural person.
Our very own, Miami Lakes Estate Planning attorney Jaqueline R. Bowden-Gold, was recently featured on Porch.com as an expert contributor. In this article, Will And Estate Planning: Advice From The Experts, Attorney Bowden-Gold answers what can be considered the most important part of your estate plan, How do I leave specific items to specific heirs?
As previously reported, Florida’s new Remote Online Notarization law became effective January 1st of this year for all documents except for wills, trusts and other testamentary instruments, that becomes effective July 1. See Florida’s Remote Online Notarization Begins January 1.
When preparing an estate plan everyone plans for distribution or preservation of their assets to make sure their minor child, adult child or families are taken care of. People often overlook planning for the event of being mentally incapacitated and asking this important question: What if you are just not available? Covid-19 has given people a new perspective with the overwhelming amount of hospitalizations. Front line workers are often forced to make the difficult decision of being separated from their minor children to avoid them contracting the virus.
Now more important than ever every parent should plan for guardianship of their minor children.
by: Phillip B. Rarick, Esq.
We have been helping small business owners survive and thrive – in good times and bad – for over 25 years. Here is how we may be able to help you in this current challenging business environment.
1. Contract Review and Force Majeure. A Force Majeure clause is a standard clause in many contracts. If you have a contract you are trying to get out of – or the reverse – if you have a person trying to nullify performance under your existing contract the interpretation of the “Force Majeure” clause will be a determining factor.
Florida Trust & Probate Attorneys Blog
