Miami asset protection attorney

Unable to Fulfill Your Contractual Obligations Due to Covid-19?

Published on: April 16, 2020 | by Rarick & Bowden Gold

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.

Florida Treasure Hunt: Check It Now! Florida Unclaimed Property Law

Published on: December 21, 2019 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq., Miami Asset Protection Attorney

If you have never checked Florida’s website for lost accounts and abandoned property you should do so – immediately. You may be pleasantly surprised!

You may think that it is not possible that you have any “unclaimed” property held by the State of Florida – and you could be wrong.

Florida’s Sweeping Elective Share

Published on: October 6, 2018 | by Rarick & Bowden Gold

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

Florida’s 30% elective share law was completely rewritten in 2001 because the old law could be easily circumvented by placing assets in a revocable trust or using non-probate transfers (e.g. life insurance, IRAs etc.) In an effort to curtail such tactics, the legislature overhauled the statute and broadened the share. The result is an expansive elective share that sweeps into the decedent’s “elective estate” many non-probate assets. See F.S. §732.201 —§732.2155.

What Is Included? Florida’s elective share statute retains the 30% share under prior law, but introduces the concept of the “elective estate” (sometimes referred to as “augmented estate”) that consists of the following property interests under F.S. §732.2035:

10 Point Checklist For Florida Corporate Entities

Published on: January 3, 2018 | by Rarick & Bowden Gold

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 corporate entities, such as a corporation, limited liability company (LLC), or limited partnership (LP).

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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.

7 Smart Tips For Hurricane Irma Insurance Claims – And 5 Traps

Published on: September 12, 2017 | by Rarick & Bowden Gold

By Phil Rarick, J.D.

7 TIPS

1. Before You Clean Up Document Your Losses

FBAR Filing Deadline is June 30; Summary of Reporting Requirements for Off-Shore Assets

Published on: June 5, 2016 | by Rarick & Bowden Gold

By Phil Rarick, Weston Estate Planning Attorney

This report is a reminder that the FBAR or Report of Foreign Bank and Financial Account is due June 30. The FBAR is required for U.S. persons having a financial interest or signature authority over one or more foreign financial accounts, including a bank account, brokerage account, mutual fund, trust, estate, pension, cash value life insurance, or other type of foreign financial account having an aggregate value over $10,000 at any time during 2015.

Note: A U.S. person may have a reporting obligation even though the foreign financial account does not generate any taxable income.

Should I have Separate LLC’s For Protecting Each Investment Property?

Published on: April 18, 2016 | by Rarick & Bowden Gold

By Phil Rarick, Weston Business Attorney

Here is a Big Red Flag: bundling multiple investment properties in the same LLC. This is a mistake we are seeing more and more often: a real estate investor has six condo rental homes; all rental homes are owned by the same LLC. This investor has essentially defeated the purpose of the LLC. A slip and fall claim on one of the properties would expose all six to the claim.

Bundling multiple investment properties in one LLC

Business Dispute Resolution without War

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

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:

Florida Trust Services For Family Law Attorneys

Published on: August 9, 2015 | by Rarick & Bowden Gold

By Phil Rarick, Esq., Miami Trust Attorney

Family law attorneys are increasingly using trusts to secure and safeguard the payment of financial obligations in their marital settlement agreements. Such trusts can provide the following key benefits:

Security that payments will be made in a timely fashion

Asset Protection Checklists For Florida Physicians

Published on: March 16, 2015 | by Rarick & Bowden Gold

By Phillip B. Rarick, Esq., Weston Asset Protection Attorney

The Checklist Manifesto by Atul Gawande is a current, hot selling book written by a physician and advising how to get things right by implementing commonsense systems.

In today’s modern medicine, coupled with our information age, where virtually every procedure can be scrutinized by an “expert” easily found on Google, it should be standard procedure for every doctor to have a comprehensive asset protection plan – one that is up-to-date to meet the challenges of our fast-changing legal system.