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…
By: Jacqueline R. Bowden and Phillip B. Rarick, Miami Estate Planning Attorneys A power of attorney is a legal instrument you may give to a trusted family member or friend (commonly called your attorney-in-fact or agent) to manage your financial affairs and act on your behalf. The person creating the…
By Phillip B. Rarick, Esq. and Jacqueline R. Bowden, Esq. For same-sex couples living in Florida, now is the time to take full advantage of rights long delayed to make sure that your spouse or partner is cared for come rain or shine. Here is a checklist of some of…
By Phillip B. Rarick, Miami Trust Attorney A Living Will is not a will and it is not a living trust. It is simply detailed, legally binding instructions to your physician that you do not want to be maintained in a persistent vegetative state if there is zero possibility of…
Within the past 10 years, the Living Trust has replaced the Will as the best way to care for you and your loved ones because it can avoid the fees, cost, and stress of court intervention in the event of mental incapacity or death. Properly funded, a living trust can…
By Phillip B. Rarick, Miami Trust Attorney You have a valuable tax benefit from the IRS, but the deadline for taking advantage of this benefit is December 31. The IRS allows you to gift $14,000 per recipient each year tax free; if married, you can gift $28,000 per person. Example: …
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…
First, let’s hope you don’t need this. But, if you do, here is a checklist of key estate planning items that should be considered prior to filing a petition for dissolution of marriage: Note: This is a partial list of key items. Invariably there are other considerations. Consult your estate…
Introduction Florida same-sex partners and same gender couples who were legally married in a state outside of Florida and have now moved to Florida should consider using a TBE (Tenants by Entireties) Delaware LLC to own Florida real estate or intangible property. Here is why. Strategy An important asset protection…
By Phillip B. Rarick, Miami Wealth Protection Attorney* ASSET PROTECTION CHECKLIST FOR THE FLORIDA SMALL BUSINESS OWNER