By Phil Rarick, Esq., and Jacqueline Bowden Gold, Esq., Miami Asset Protection Attorneys
If you have creditor threat, do you know what assets are easily exposed to creditors? Do you know what assets are already protected by Florida law? Take this three minute survey for a quick assessment. Your family will thank you!
1. Is your Florida homestead in your name and spouse as “Tenants By Entireties”?
By Phil Rarick, Esq. & Jacqueline Bowden Gold, Esq., Miami Asset Protection Attorneys
The Covid-19 Pandemic has changed the world as we know it and presented daunting challenges we have not encountered in our life-times. It requires a total review of your estate plan and business entities by an experienced Miami asset protection attorney to assure you are taking full advantage of Florida laws designed to protect your assets from creditors.
Take this three minute survey for a quick assessment – it may be the most valuable survey you take this year!
Curve Balls to Watch for In New Florida Trust Director Law
By Phillip B. Rarick, Miami Trust Attorney, and Hannah S. Rarick, J.D. Candidate
Effective as of last year July 1, 2021, Florida is now 1 of 15 states to enact the Uniform Directed Trust Act (FUDTA), F.S. §§736.1401 to .1416, that allows a third party other than the Trustee to take over some part of the trust administration – such as supervision of a small family business. This third party is called a Trust Director (or directing Trustee) in the new statute; but is also commonly referred to as a Trust Advisor under prior law or Trust Protector in other jurisdictions.
by: Phillip B. Rarick, Esq.
We have been helping small business owners survive and thrive – in good times and bad – for over 25 years. Here is how we may be able to help you in this current challenging business environment.
1. Contract Review and Force Majeure. A Force Majeure clause is a standard clause in many contracts. If you have a contract you are trying to get out of – or the reverse – if you have a person trying to nullify performance under your existing contract the interpretation of the “Force Majeure” clause will be a determining factor.
by: Phillip B. Rarick, Esq.
Here is the good news/bad news I received from my bank today regarding my Paycheck Protection Program (PPP) Application: The good news: your application has been approved; the bad: the SBA is out of money and you must wait for Congress to refund the program!
Although I have heard of a few small businesses that have received funding I am guessing that most persons reading this letter have encountered similar frustrations. Note: if you have received funding, please so reply.
by: Phillip B. Rarick, Esq.
The Covid-19 Pandemic has changed the world as we know it and presented daunting challenges we have not encountered in our life time. It requires a total review of your estate plan and business entities to assure you are taking full advantage of Florida laws designed to protect your family and business.
The hard new reality: What plan was best for you prior to 2020 may not be what is best for you today
How Much?
Here is an updated calculator from Turbotax: Stimulus Check Calculator
When Will Checks Arrive?
By: Phillip B. Rarick, Esq.
Most divorce judgments call for one of the parties to obtain a life insurance policy to secure the payment of child support, alimony or some other financial obligation. Let’s assume the obligation is solely child support: a potential mistake is failure to secure payment of the policy premiums by use of an irrevocable Children’s Safe Harbor Trust structured as a spendthrift trust.
For securing the payment of child support, the settlement agreement should have specific language that may read as follows:
Who is Impacted by this Decision:
Anyone with ownership interest in a single member Florida limited liability company (LLC).
Executive Summary:
Florida Trust & Probate Attorneys Blog
