Florida Successor Trustee Checklist
By Phillip B. Rarick, Miami Trust Attorney
You are named the successor trustee and the trustmaker has just died. No doubt these are difficult times, but thankfully there are many resources to help. The following is a checklist of initial important tasks to help guide you after the funeral or memorial service.
Its a New Year and time to file your 2024 Annual Report if you own a Florida LLC (limited liability company), corporation, or partnership. The deadline is May 1, 2024. The state will charge you a $400 late fee if you miss this deadline.
The official Florida web site is www.sunbiz.org. This site has “Consumer Notices” to alert you to bogus web sites that try to scam persons who file these reports.
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, 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.
by: Phillip B. Rarick, Esq.
The Covid-19 Pandemic has changed the world as we know it and presented daunting challenges we have not encountered in our life time. It requires a total review of your estate plan and business entities to assure you are taking full advantage of Florida laws designed to protect your family and business.
The hard new reality: What plan was best for you prior to 2020 may not be what is best for you today
How Much?
Here is an updated calculator from Turbotax: Stimulus Check Calculator
When Will Checks Arrive?
By: Phillip B. Rarick, Weston Estate Planning Attorney
In 2008 Florida passed an amendment to our Trust Code designed to allow a Trustee to use trust funds to pay legal fees incurred in defending a breach of trust litigation without prior court approval, so long as the Trustee gave notice to qualified beneficiaries of its intent to do so.
On its face, Florida Statute, F.S. 736.0802(10), seems to give the Trustee access to Trust funds to defend itself, but on closer examination, it creates a potential conflict of interest sandtrap.
Florida Trust & Probate Attorneys Blog
