Category Archives: General
Ernie Banks’ Probate and Will Dispute Provides Important Estate Planning Lessons
Well known Chicago baseball player Ernie Banks died in January of this year. In addition to his baseball prowess, he was the first black Ford dealer, and was awarded the 2013 Congressional Medal of Honor. Sadly, however, his death has raised significant estate and probate issues, and serves as a reminder of how important… Read More »
How Collecting Money Owed Could Get Your Business in Trouble
For many businesses to survive, they need to make sure they’re paid by those that owe them money, whether from individual consumers, or other businesses. You may not think that simply accepting payment for a good or service rendered could embroil your business into a complex federal bankruptcy case. But it can happen. The… Read More »
A Living Trust Could Be The Right Tool For You–Even if You’re Not Rich
When we talk about trusts, there is a misconception that they’re only for the very wealthy. Terms like “trust fund baby” have created the impression that the average middle class person doesn’t need to worry about trusts. But living trusts can help everyone, and can give you some peace of mind in planning your… Read More »
If You’re In Foreclosure, Don’t Forget Tax Consequences of Getting Out of It
It’s been said that the economy is improving, and there’s no better indication of that than the fact that foreclosures are generally down. But they haven’t disappeared forever. And if you’re in foreclosure and looking at options to get out of it, the last thing that may be on your mind may be taxes…. Read More »
Florida Annuities: A Great Asset Protection Tool, Even in a Divorce
Divorce seems to bring up a lot of questions when it comes to asset protection and estate planning, especially when exempt assets are transferred pursuant to a divorce. Just recently we discussed the effects of the homestead protections upon divorce, and whether a divorce threatens the homestead protections of property that are normally afforded… Read More »
Can You Lose Your Homestead Protection in a Divorce?
Florida has one of the strongest homestead protections in the nation. It’s written into our Florida constitution, and it protects your homestead from being taken by creditors or anybody who gets a judgment against you (other than foreclosures, where you have specifically mortgaged your property). The protection even extends to funds that you receive… Read More »
Make Sure Your Will Includes and Excludes Those Who You Want Inheriting (or Not Inheriting)
If you have assets, it is likely that you may want to make sure that members of your family, including your children, can receive those assets by inheritance when you pass. This may seem easy and obvious—and for smaller, biological families, it can be. But in reality, not all families are the same, which… Read More »
If You’re Looking to Protect Your Business With a Non-Compete, Make Sure It’s Done Correctly
If you have a business, you may be considering asking employees or co-workers to sign non-compete agreements. In many cases, as a business owner, you may have legitimate reasons for wanting such agreements. But there’s danger in those agreements—if not properly worded and in conformance with Florida law, you could find that the agreement… Read More »
Old Ways of Running LLCs Have Changed With New Laws
There is an old car commercial for Oldsmobile, where, in order to tout changes in the vehicle, the saying went “This is Not Your Father’s Oldsmobile.” Well, just like the car, if you plan on forming your own business entities and companies—particularly LLCs—doing it the old way may get you into some trouble, as… Read More »
Lawmaker Pushing for New Law Dealing with Digital Data After Death
When we think of the assets in our lives that will pass to others when we’re gone, we normally think of tangible objects of value. Florida citizens may create wills, or set up trusts, to ensure that property of value is passed on to family members after death. But a lawmaker in Florida is… Read More »