Probate

Securing Payment of Child Support with a Children’s Safe Harbor Trust

Published on: August 18, 2015 | by Rarick & Bowden Gold

By: Phillip B. Rarick, Esq.

Most divorce judgments call for one of the parties to obtain a life insurance policy for securing the payment of child support, alimony or some other financial obligation. Let’s assume the obligation is solely child support: a potential mistake is failure to secure payment of the policy premiums by use of an irrevocable Children’s Safe Harbor Trust structured as a spendthrift trust.

For securing the payment of child support, the settlement agreement should have specific language that may read as follows:

Successor Trustee Duties

Published on: April 27, 2015 | by Rarick & Bowden Gold

12 Point Summary of Florida Successor Trustee Duties

Note: Trust administration requires strict compliance with the trust terms and often analysis of complex tax requirements. A trustee is a fiduciary and is held to a high standard of care under Florida law. If you are a successor trustee, we can help. It is important that you follow the advice of an experienced Trust Administration Attorney to avoid or reduce estate taxes or income taxes and to protect yourself against personal liability. Not only are the expenses of an attorney and CPA typically considered routine trust expenses, but failure to utilize such services can expose the trustee to personal liability.

Show Loyalty To All Trust Beneficiaries. Even if the successor trustee is himself a beneficiary, as trustee he has the duty of loyalty to all the other beneficiaries, including the remaindermen. Remaindermen are beneficiaries who do not have a current interest in the trust income or principal, but have a future interest in the trust.

Beware of Creditor Harassment Upon Death of Your Spouse or Family Member

Published on: January 5, 2015 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq. and Jacqueline R. Bowden, Esq.

In Florida, when you die, your debts remain in your estate – and are not transferred to a surviving spouse or family member. However, this simple legal concept does not stop some creditors from harassing the surviving spouse or a family member into payment of a debt for which they have no legal obligation.

Creditors may strike immediately after death, showing empathy and false kindness, and then try to convince the surviving spouse they have a legal or moral obligation to pay. Beware and do not pay until you have consulted an attorney.

9 Key Benefits Available to Florida Same-Sex Couples: U.S. Supreme Court Clears Way For Critical State Benefits Effective January 6

Published on: December 20, 2014 | by Rarick & Bowden Gold

By Jacqueline R. Bowden, Esq. and Phillip B. Rarick, Esq.

Same-sex marriage will likely be legal in Florida beginning January 6 as a result of a historic 7-2 ruling by the U.S. Supreme Court yesterday, December 19. This ruling, denying Attorney General Pam Bondi’s request to extend a stay preventing the state from recognizing the marriages of eight same sex couples, may signal the state’s last defense of a constitutional ban on same-sex marriage in line with the over-whelming national trend to strike down such bans.

The ruling has profound legal consequences for Florida same-sex couples. This Alert reviews six Federal benefits available now, and three state benefits that will be available January 6 barring any further legal developments, which are unlikely as Attorney General Bondi has now conceded that the stay will end January 5.

Transfer of Motor Vehicles after Owner’s Death: How to Avoid Probate in Florida

Published on: May 19, 2014 | by Rarick & Bowden Gold

By Cristina M. Fernandez, Esq.

A. The Question

A common question we encounter is how to transfer the title of a motor vehicle upon the death of its owner.

FLORIDA DOMICILE CHECKLIST

Published on: May 13, 2014 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq., Miami Trust Attorney

A. Domicile vs. Residence

“Domicile” and Residence are two different legal terms, but often confused. A person can have only one domicile, but any number of residences in different states. Domicile is your actual residence in the state joined with your intention to make that state your permanent home. In order to establish a new domicile, you must first abandon your old “domicile”, but not necessarily your old “residence.” The Florida test is both a subjective and objective test. The following checklist is a list of important objective criteria.

Pet Trusts: Have You Forgotten Your Pet(s)? Your Very Loyal Pet?

Published on: March 16, 2014 | by Rarick & Bowden Gold

By Phillip B. Rarick, Miami Trust Attorney

Who is the first to greet you when you come home? For me, it used to be my young daughters or son. But now that my youngest daughter is a teenager (and too cool for such shows of affection) those days are past. So now the first to greet me is Toby, our loyal Yorkie.

If you have a loyal pet like this, of course you do not want to forget him or her if you can no longer care for your pet. You have detailed instructions in your trust or will to take care of your loved ones – but have you forgotten your pets?

What’s Wrong With This Picture? NY Attorney Names Himself As Personal Representative For A Florida Resident

Published on: February 15, 2014 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq., Miami Probate Attorney

We have written about this issue in the past, but it is one that keeps popping up. Here are the relevant facts. Note: I have changed some facts to avoid disclosure of private information.

Recently, we reviewed a New York will where the drafting attorney named himself and his client’s CPA as Personal Representative for the estate. Neither the attorney nor the CPA were blood related to the client and neither were residents of Florida.

Bad Advice You Hear All The Time

Published on: February 9, 2014 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq., Miami Trust Attorney

Quote: There are three things that are real – God, human folly and laughter. The first two are beyond our comprehension. So we must do what we can with the third. – John F. Kennedy

Here are five bad items of advice – that you hear all the time from otherwise smart persons:

Allocation Of Wrongful Death Proceeds In Florida Probate

Published on: October 30, 2013 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq., Miami Probate Attorney

I. Determining Survivors

The personal representative has a duty to bring an action for the wrongful death of the decedent. F.S. 768.20. The Act provides for damages for the estate and “survivors”. Survivors include the surviving spouse, “minor children” under 25 years of age, and in some instances parents.