Justia Badge
The Florida Bar - Board Certified
Miami Lakes - Bar Association
Avvo Rating 10.0
Weston Bar Association
Avvo Clients Choice 2016
DC Bar
Indiana State Bar Association
Ullinois State Bar Association
The Virginia Bar Association

Articles Posted in Trust Law

By Phil Rarick & Jacqueline Bowden Gold, Estate & Business Law Attorneys

 
______#1.       Coronavirus Check Calculator.  Here is a simple, handy calculator describing who qualifies for the federal pandemic legislation checks and determines the amount of the check.  Click here:   Coronavirus Checks Calculator

When Will Checks Arrive?   Secretary Mnuchin said that direct deposits will start going out April 17 followed by checks in the mail.  It is not clear how long it will take the Treasury Department to get these checks out by mail – some experts caution it could take weeks or months.

By: Jacqueline R. Bowden Gold, Miami Lakes and Weston Estate Planning Attorney

Don’t make the mistake of drafting your own Will and estate plan to save money. With general forms available and online companies that claim to walk you through the “easy” drafting process, it is common to fall prey to their low-priced services. As a Florida Probate and Medicaid Planning attorney, I see the harmful after- effects of “do it yourself” wills:  high legal fees to clean up ambiguities and sometimes open warfare among the family because of lack of clarity regarding the decedent’s true wishes.

For other common mistakes not discussed in this article read:  5 Common Mistakes with Do It Yourself Florida Wills.

By Phillip B. Rarick, Esq.,  Miami Lakes and Weston Estate Planning 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, 2020 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.

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

If you have never checked Florida’s web site 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.

By Phil Rarick, Weston Estate Planning Attorney

You and your spouse are finally going out for the evening.  The babysitter, a  high school  student,  has arrived and you are loading the young woman with last minute instructions:  time for bed, make sure the kids brush their teeth, books to read little Tommy, etc, etc.   What is ironic is many such fretful parents leave more instructions for their babysitter when they are out for a brief night out than they do if they would suddenly die.

Many parents have life insurance to provide for their spouse and children.  What is missing here is that life insurance without detailed instructions could mean that your son or daughter gets a windfall when they turn 18 and then proceed to blow it on a hot car and high living – your dream of them getting a quality post high school education is up in smoke.

You will miss this deadline if you do not read carefully – and you may need a magnifying glass to find it.  Within the past two weeks you should have received in the mail a “Notice of Proposed Property Taxes” or “TRIM Notice” from your county property tax appraiser.  Buried at the bottom of your  Notice in small print is an important deadline for appealing your tax assessment.

Clearly, the county does not want to encourage you to appeal your property taxes.

Note these deadlines:

By:  Phillip B. Rarick, Weston Estate Planning Attorney

In 2008 Florida passed an amendment to our Trust Code designed to allow a Trustee to use trust funds to pay legal fees incurred in defending a breach of trust litigation without prior court approval, so long as the Trustee gave notice to qualified beneficiaries of its intent to do so.

On its face, Florida Statute, F.S. 736.0802(10), seems to give the Trustee access to Trust funds to defend itself, but on closer examination, it creates a potential conflict of interest sandtrap.

By Phil Rarick, Esq.

May the odds be with you – but frankly they are not:

  • A recent study indicated that the average lawyer can now expect three legal malpractice claims during his or her career.

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:

Contact Information