Articles Posted in Estate Planning

Answer by Phillip B. Rarick, Miami Probate Attorney Everyone has a will, whether you know it or not. If you fail to plan for this certainty, the state of Florida has a will for you: it is called intestate succession. A common question we get from relatives of family members who die without a will…

By: Phillip B. Rarick, J.D., and Jay R. Beskin, J.D. Miami Asset Protection Attorneys Background Summary: Last year in a blog we advised you that the “Olmstead Patch” – the Florida legislature’s attempt to fix a hole in the Florida LLC statute as a result of the 2010 Olmstead decision – strengthened multi-member LLC’s, but…

Now may be an excellent time to attack a common misunderstanding about living revocable trusts: These trusts do not protect your assets if you are sued. If you can be sued, your revocable trust can be sued. Some people believe that the living trust is like a “pink pill” solution: it solves everything. While the…

Virtually all states are looking to increase tax revenues and Florida is no exception. One area in which the state is becoming more aggressive is the collection of documentary stamp taxes. As outlined in Florida Statue §201.02, this stealth tax must be considered in virtually all transfers of interests between or within Florida corporate entities,…

I. Executive Summary Florida probate attorney fees depend on whether the proceeding is Summary Administration – usually the quickest and least expensive – or Formal Administration. Many factors will enter into the fees, including whether the probate is contested, is subject to estate and other taxes, involves the sale of real estate, and requires advice…

The scheduled rates and exemptions are as follows Year Top Gift & Estate Tax Rate Gift Tax Exemption Amount Estate Tax Exemption Amount GST Tax Rate GST Exemption Amount 2009 45% $1 million $3.5 million 45% $3.5 million 2010 0 estate tax / 35% gift tax $1 million N/A 0 N/A 2011 35% $5 million…

A common over-sight of persons moving to Florida is failing to take their trust. They may have packed their trust and taken it with them, but the trust situs remains in their original state. This is usually a mistake. The fact that a client has moved to Florida will not generally mean that the law…

Introduction The Florida legislature recently enacted the “Florida Power of Attorney Act” (“FPOA”, Fla. Stat. §§709.2101-.2402), fundamentally overhauling existing law, and making sweeping new changes. Even though the new law recognizes durable power of attorneys (“DPA’s) executed under the prior law, we are advising clients to update their DPA, if more than a year old,…

By Phillip B. Rarick, Esq. and Gene C. Sulzberger, CFP®, J.D. In the United States there are multiple estate and gift tax traps if you are not a U.S. citizen or your spouse is not. If you are a non-resident, or a resident with a Green Card and own property in Florida or other parts…

By Phillip B. Rarick, Esq., Miami Probate Attorney Introduction The commencement of a Florida guardianship is typically used in two situations – either when a person may be incapacitated or when a minor receives assets in excess of $15,000. If a guardianship is sought because someone may be incapacitated, then typically the court sets two…