Miami Lawyer Trust and Probate Blog

12 Point Estate and Asset Protection Plan Checklist for 2017

Posted on: January 6th, 2017 in Asset Protection, Estate Planning, Trust Law

By Phil Rarick, Weston Estate Planning Attorney

______#1.       Successor Trustee.  This is the person you have appointed to step into your legal shoes if you become incapacitated – in other words, one of the most important estate planning decisions you can make.  Who have you appointed to take charge if you are incapacitated?  What is the order of succession of trustees?  If you have any question whatsoever about your order of succession, please call the office at (305) 556-5209.… READ MORE

Florida Asset Protection: 7 Key Strategies

Posted on: June 5th, 2016 in Asset Protection, Estate Planning, Trust Law

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

In our litigious society anyone can become a target of a plaintiff seeking to get a money judgment against you personally.   In today’s real estate market, where it is usually impossible to negotiate with the lender, deficiency judgments are a major concern.  You may have excellent car or property insurance, but a good personal injury attorney will typically seek to go beyond the insurance limits and name you as a defendant if the damages are substantial.   READ MORE

Asset Protection Checklists For Florida Physicians

Posted on: March 16th, 2015 in Asset Protection, Estate Planning

 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.… READ MORE

The Problem With A Florida Professional Association

Posted on: May 3rd, 2017 in Corporate, Estate Planning

Big Question: Can your practice survive if you suddenly die or become incapacitated?  

 

Recently, a highly respected physician suddenly died owning 100% of his practice in a Professional Association. No other person was listed on Florida’s Sunbiz.org as an officer.  Payroll was paid on a weekly basis.   Even though the Professional Association had been assigned to the doctor’s living trust, the bank (a large Florida bank) refused to give the successor trustee access to the Professional Association’s bank accounts citing F.S.… READ MORE

Who Can Be That Second Member for Your Florida LLC; Basic LLC Checklist

Posted on: May 1st, 2017 in Asset Protection, Corporate, Estate Planning

As most attorneys know, a Florida LLC needs to be multi-member so members are afforded the highest protection. This is the result of recent state legislation which has clarified a charging order is the exclusive remedy against a multi-member LLC, but not against a single member LLC.  For more background on the new LLC law, see our past reports,  Beware of Single Member LLC’sOlmstead Patch Bill Signed by Governor; and 4 Take-Away Points To Know Under Florida’s New LLC Law.… READ MORE

Three Big Threats To Your Children Over 18 – And How To Protect Them

Posted on: February 20th, 2017 in Estate Planning, Trust Administration, Trust Law, Will Law

Three Big Threats To Your Children Over 18 –

And How To Protect  Them

 

By Phil Rarick, Weston Estate Planning Attorney

 

You have done it.  You have guided (or you have survived) your children’s teen years.  They are now over 18.  They are now “sui juris” in the eyes of the law:  this means they are fully independent to make their own legal choices.   And you would like to help them to continue to make good choices.  … READ MORE

File Your 2017 Annual Report – But Watch For These 4 Scams

Posted on: January 6th, 2017 in Asset Protection, Corporate, Trust Administration, Trust Law

By Phillip B. Rarick, Miami Asset Protection Attorney

Within the past week, the Florida Department of State began sending notices by email to all persons with interests in Florida corporate entities, such as LLC’s, corporations, and limited partnerships.  These reports are due May 1, 2017 and there is no waiver of the $400 late fee if you miss this deadline.

The official Florida web site  at www.sunbiz.org has “Consumer Notices”  to alert you to bogus web sites that try to scam persons who file these reports. READ MORE

Big Mistake: Naming A Minor the Outright Beneficiary – Of Anything!

Posted on: December 1st, 2016 in Asset Protection, Estate Planning, Trust Law, Will Law

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Big Mistake: Naming A Minor the Beneficiary – Of Anything

By Phil Rarick, Miami Trust Attorney

Naming a minor child the outright beneficiary of a will, life insurance policy, IRA, 401K, UGMA (Uniform Gift to Minor Account) or any other source of funds is almost always a mistake for four reasons:

1. If the funds are over $15,000 a guardian ad litum may need to be appointed by the court for the minor to access the funds.… READ MORE


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