By: Phil Rarick, Miami Trust Attorney You will miss this deadline if you do not read carefully – and you may need a magnifying glass to find it. Around the last weeks of August, you should have received in the mail a “Notice of Proposed Property Taxes” or “TRIM Notice” from your county property tax appraiser. This is NOT a bill but a notice. 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, exemptions, or right to claim homestead for your primary residence that you live in. Note these deadlines:

• Miami-Dade: The deadline for you is at the bottom of your Notice according to the Property Appraiser’s website. This is the deadline that is binding on you. The deadline on the TRIM notice I received for the property in Miami Lakes said September 17, 2024. Note, however, that your deadline is the one listed on the notice that you received. For more information click: Miami-Dade Trim Notice.
• Broward: September 18, 2024. For more information click: Broward Trim Notice.

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Should You Appeal? If your taxes have significantly increased, you may wish to consider an appeal of your assessment. Approximately 40% of appellants are able to successfully challenge their property tax assessments. The cost to appeal is only $15.

What To Do: If your property taxes have significantly increased, we recommend you have the valuation screened by a professional who is experienced in challenging assessments before the Value Adjustment Board. Many professional appraisers will take your case on a contingency fee; you simply need to pay the $15 filing fee. You need to make your own independent assessment of a professional to do this work.

Note: Our Firm does not do this appeal work and makes no recommendations of professionals who do; this notice is strictly a public service reminder courtesy of the Firm.

Homestead: Make sure you check your TRIM notice for your primary residence to confirm that you are receiving the Homestead tax exemption. Miami-Dade Appraiser cautions: Do Not Jeopardize Your Homestead Exemption by renting your homestead. When renting your home periodically for more than 30 days in two consecutive years, you will be ineligible for the Homestead Exemption or the SOH Cap.

Remember: It is not necessary to have all your evidence before you file. If in doubt, pay the $15 and file your appeal. The most important goal at this point is to get your appeal filed on a timely basis if you want to appeal. After the deadline, it is exceptionally difficult to file.

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Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on the information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami probate attorney or Miami Trust attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

Florida Successor Trustee Checklist

By Phillip B. Rarick, Miami Trust Attorney

You are named the successor trustee and the trustmaker has just died. No doubt these are difficult times, but thankfully there are many resources to help. The following is a checklist of initial important tasks to help guide you after the funeral or memorial service.

Note: You are not required to accept the trustee duties. However, if you begin to act as successor trustee you will likely be held responsible for all acts as the trustee to the beneficiaries and the IRS. Therefore, do not begin to take any actions as Trustee before you know what your duties are. Consult a Miami trust attorney and see our 12 Point Summary of Florida Successor Trustee Duties. First Priority Action Items

____ 1. Sign Acceptance of Trustee Duties and Affidavit of Trust

____ 2. Take possession of all legal records including:

• Original trust
• Original will (usually called a pour-over will if decedent had trust)

____ 3. Take possession of all financial records such as:

• Inventory of assets

Note: This may be on paper or on decedent’s computer.

• Passwords to computer, internet media, or social media
• Checkbooks
• Credit cards
• Statements from all banks or financial companies

____ 4. Take possession of all keys or codes to:

• All vehicles or boats
• Safe or bank safe deposit box

Note: Do not allow entry to Safe Deposit Box without a witness and prior discussion of arrangements with a Miami trust attorney. Remember:

• House and other real estate or rental properties
• Storage room

____ 5. Lock and secure all real estate and household contents

____ 6. Engage an experienced Florida trust administration attorney

____ 7. Engage CPA or accountant and determine deadlines for filing tax returns

____ 8. Contact decedent’s Financial Advisor

____ 9. Order minimum of 10 death certificates (these can usually be obtained through the funeral home) and collect documents on Document Checklist.

Click Here for: Document Checklist

_____ 10. Calendar important dates: such as deadline for filing decedent’s final 1040 tax return and 1041 tax return for the trust.

Note: As Trustee, you are liable to the IRS for all trust tax matters.

_____ 11. Buy a notebook and keep track of your time and work on behalf of the trust:

Note: Few beneficiaries will appreciate the time and extensive work of the trustee. To be fully compensated for your time, you likely will need to account for all your time incurred as trustee.

Second Priority Action Items

_____ 12. Complete Master Information List: This is an inventory of all the decedent’s assets and most importantly how they are titled and what, if any, beneficiary designation.

• Contact info@raricklaw.com for List.

____ 13. Open Trust Checking Account with bank

____ 14. Set up Quicken/QuickBooks or similar accounting program

Note: As Trustee you must account for all funds received and all funds paid out. If you are not adept and diligent at accounting, hire a bookkeeper or accountant. Remember as Trustee you will need to provide a detailed accounting to all trust beneficiaries for all trust income and expenses.

____ 15. File Notice of Trust with the Clerk of Court

_____ 16. Determine names and addresses of all qualified beneficiaries with assistance of Trust attorney

_____ 17. Within 60 days of accepting Trustee duties, send Notice of Trust to all qualified beneficiaries; this notice must comply with Florida law

____ 18. Deposit Will with the Clerk of Court

____ 19. Advise Post office to forward mail

____ 20. Cancel utilities, subscriptions

____ 21. Contact homeowner’s insurance and keep insurance current

____ 22. Review insurance for all rental properties and keep payments current

____ 23. If homeowner association, contact and keep payments current

____ 24. Inventory Safe Deposit Box with at least one witness after first consulting with trust attorney

____ 25. Search records for potential creditors

Note: Do not pay creditors until you have ascertained their legal validity and priority. As trustee you have the duty to contest creditor claims that are not valid and pay claims according to their priority. A spouse is typically not liable for the debts of the deceased spouse.

____ 26. Keep current payments to legally valid secured creditors.

____ 27. Determine if any Employee Benefits

____ 28. Contact health care providers, such as doctors, hospitals, clinics and determine if they have accepted Medicare assignment for their services. If they have, then they have agreed to accept Medicare and any other insurance payments for their services. Therefore there should be no reason for them to file a claim in the estate for any unpaid portion of their statement. If we have a list of the Medicare providers, we will prepare objections to any claims they file against the estate.

____ 29. Social Security: If the decedent was receiving Social Security, contact (a) the Social Security Administration to inform them of the decedent’s death; (b) the bank where the social security check is being deposited directly into to inform them of the decedent’s death. The Social Security checks are issued at the first of the month and they are in payment for the previous month. The decedent must have lived the entire month to be entitled to the Social Security check. For example, if the decedent died August 15, and the Social Security check was automatically deposited on September 3, the decedent is not entitled to the September 3 check or any checks thereafter. You must contact the bank and request that they return the check to Social Security. Often the bank does this automatically as a service to customers. If the check is not returned, the Social Security Administration will take steps to collect the check(s).

____ 30. Make a claim for Social Security death benefit if (a) decedent has enough hours worked during his or her lifetime; and is (b) survived by a spouse or dependent child. For additional information contact Social Security at 800-772-1213.

____ 31. Determine if any claims for life insurance or veteran death benefits.

This is a short list of initial tasks for a person who accepts the duties as Successor Trustee. It is not a complete list of tasks. The trustee will only be able to determine all tasks after carefully reviewing all trust instructions with a Miami trust attorney. Attorneys at Rarick Trusts & Wills Law, P.A. have helped many family members navigate these tasks as the Trustee, Co-Trustee or Personal Representative of the Estate. We are ready to help you. Contact us at (305) 709-2858 or email to info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an attorney that is experienced in Florida probate law. Your receipt of information from this website, blog, or Miami trust attorney does not create an attorney-client relationship and the legal privileges inherent therein.

Its a New Year and time to file your 2026 Annual Report if you own a Florida LLC (limited liability company), corporation, or partnership. The deadline is May 1, 2026. The state will charge you a $400 late fee if you miss this deadline.

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

How To Safely File

The legitimate email notice will state that it is from the Florida Department of State; Subject: Official 2025 Annual Report Notice for: [Name of your corporate entity].

This notice will give you instructions on how to file on line at www.sunbiz.org where you will find a banner that states, “’Florida Department of State, Division of Corporations”.

Florida Department of State fees for the annual registration of corporate entities are:

• Limited liability company: $138.75
• Corporation: $150.00
• Limited Partnership: $500

Watch For These 3 Scams Scam #1: F.C.F.S. – Florida Corporate Filing Services. This outfit sends you a notice in the mail that looks like they are official certificates from the State of Florida with a Tallahassee address and will request about $47 for a Certificate of Status. In another scam they may request $125 for filing corporate minutes. People are tricked into thinking such documents are required by the State – they are not. Scam #2: Corporate Filing Services Center. This group requests about $68 for a certificate of status – again, not required by the State. Scam #3: C.F.S – Certificate Filing Service. This gang has exceptionally impressive and official looking paper that resembles the quality paper of a birth certificate. They will request about $49 for a certificate of status. This is NOT required by the State. Note: The Department of Agriculture and Consumer Services (DACS) now has the statutory duty and responsibility to investigate potential scams and fine violators under the new “Government Impostor and Deceptive Advertisement Act” (GIDAA). For more information, see section 817.417, F.S. or visit the FDACS’s Division of Consumer Services. Good Time To Review Your Corporate Records – and Update Them

This is a good time to conduct an annual review of your LLC, corporation or limited partnership.

We have prepared a 10 Point Checklist to assist you. To get this list click here: 10 Point Checklist For Florida Corporate Entities

It may be advisable to make an appointment with our office to ensure your corporate minutes are properly prepared, are up to date, and accurately reflect key issues, such as who are the controlling officers, who are the owners, and what shares or units does each owner hold.

To schedule an appointment, call our office at (305) 709-2858 or email info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami asset protection attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

If you have never checked Florida’s website 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.

The dirty secret is that many banks and life insurance companies will make little effort to find you if you do not notify them of your change of address. They will do the easy thing: transfer your account to the Florida Division of Accounting and Auditing, Bureau of Unclaimed Property. Thousands of such accounts end up in the Florida Unclaimed Property fund each year.

In the past we have had clients find more than $100,000 in old bank accounts that they had forgotten or failed to notify the bank of a change of address.

Special Note: Beware of scammers. There are a number of so called “private investigators” that may call you and tell you they can find lost money owed to you, but first you have to agree to pay them a percentage of the funds. Do not sign anything! They are simply doing what you can do for free by checking the website below.

The holidays are coming. Now may be a good time to see if Florida has any unclaimed property for you or a family member. The search is easy. Click Here: Florida Treasure Hunt.

Good luck!

Phil Rarick

Rarick Trusts & Wills Law, P.A.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami asset protection attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

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:

• Decedent’s probate estate;
• Decedent’s fractional interest in property held by the decedent in joint tenancy with rights of survivorship or tenancy by the entireties;
• Property in a revocable trust or a discretionary trust for the decedent’s benefit;
• Cash surrender value of insurance policies on the decedent’s life;
• Death benefits payable under retirement plans;
• Certain transfers within a year of the decedent’s death;
• Transfers in satisfaction of the elective share;
• “Pay on Death” or “POD”; “Transfer on Death” or “TOD”; and “In Trust For” or “I/T/F”; and co-ownership with rights of survivorship accounts. The decedent’s interest is that portion that the decedent could withdraw immediately before death without an obligation to any person. If Tenancy by the Entireties, one-half is included.

This is not a complete list; see F.S. §732.2035. What is Excluded?

Not much. Here are some of the major exclusions:

• Real property that constitutes the decedent’s homestead;
• Insurance in excess of the cash surrender value is generally excluded;
• Gifts that qualify for the gift tax annual exclusion; and
• Transfers with the written consent of the spouse. (Spousal consent to gift split is not written consent.)

Again, this is not a complete list; see F.S. §732.2045.

Deadline for Making Elective Share Election

The general rule is that the election must be made within the earlier of six months of the date of service of the Notice of Administration or two years from the date of death. F.S. 732.2135.

Rarick Trusts & Wills Law has been trusted by numerous law firms and many families during the past 20 years for probate, estate planning, trust and asset protection cases. To schedule an appointment with Phil Rarick, a Miami probate attorney, call (305) 709-2858 or email info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced in Miami probate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

1. A legally adopted child or adoptive parent of the decedent;
2. Related by lineal consanguinity to the decedent;
3. A spouse, or a brother, sister, uncle, aunt, nephew, or niece of the decedent, or someone related by lineal consanguinity to any such person; or
4. The spouse of a person who otherwise qualified under this section.

A Common Drafting Mistake: We see this mistake made in a few wills every year: the decedent names a non-resident of Florida, such as a close friend, or an out of state attorney as their Personal Representative. These individuals would not qualify to serve as personal representative. What Happens If The Person Named In The Will Cannot Serve? If the will has an order of succession for Personal Representatives and there are other named Personal Representatives that do qualify under the terms of Fla. Stat. § 733.304 then the next in line individual can serve. If there is no order of succession for Personal Representative in the will, or no one named qualifies, then we look to Fla. Stat. §733.301. Preference in appointment of Personal Representative would indicate that if those named in the will can not serve, and there is no surviving spouse, then the next eligible person in a testate estate would be a person selected by a majority in interest of the persons entitled to the estate. If no such majority is reached, then a devisee under the will can serve. If more than one devisee applies, the court may select the one best qualified. Keep in mind that the person selected by the majority or the devisee must be a Florida resident to qualify. Intestate Appointment Preference In intestate estates preference in appointment is as follows:

1. The surviving spouse.
2. The person selected by a majority in interest of the heirs.
3. The heir nearest in degree. If more than one applies, the court may select the one best qualified. See Fla. Stat. §733.301

In most instances an individual who falls within one of these descriptions can be found and is qualified and willing to serve as Personal Representative. In the rare instance that an individual who falls within these categories can not be found, the court may appoint someone to serve, either in a testate or intestate estate, but the person the court appoints, if a non-resident, must be qualified to serve according to Fla. Stat. §733.304.

Special Note: All Trust companies incorporated under Florida law, and all state banking corporations, savings associations, national banking associations and federal savings and loan associations that are authorized and qualified to exercise fiduciary powers in Florida are qualified to act as personal representative. See Fla. Stat. §733.305. Conclusion: A non-resident of Florida can serve as Personal Representative only if related by lineal blood or legal adoption to the decedent, or married to a lineal blood or legally adopted relation of the decedent. For more information contact attorney Phil Rarick, Miami probate attorney, with Rarick Trusts & Wills Law at (305) 709-2858 or info@raricklaw.com Special Note The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami probate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

You are named the personal representative (or executor in other states) and a loved one or family member has just died. No doubt these are difficult times, but thankfully there are many resources for help. The following is a checklist of initial important tasks to help guide you after the funeral or memorial service.

Note: You are not required to accept the Personal Representative duties. Before you can legally act on behalf of the estate you will likely need to secure Letters of Administration issued by a Florida probate court that officially designate you as the legal authority in charge of the estate. Therefore, you should not take action as Personal Representative before you know your duties and what potential claims you may face from estate beneficiaries and creditors. Consult a Miami probate attorney and see our 10 Basic Legal Rights for Beneficiaries Under a Florida Will.

First Priority Action Items

____ 1. Take possession of all legal records including:

__ Original will and all amendments or codicils

Note: If decedent did not leave a will, the beneficiaries will be determined according to Florida intestate law. See Dying Without A Will In Florida.

__ Tangible Personal Property Memorandum or writing indicating instructions for distribution of tangible personal property (such as jewelry, furniture, cars)

____ 2. Take possession of all financial records such as:

__ Inventory of assets if available

__ Passwords to computer, internet media, or social media

__ Checkbooks

__ Credit cards

__ Statements from all banks, financial companies, or financial advisors

Click here for the complete checklist: Florida Personal Representative Checklist

This is a short list of initial action items for a person who accepts the duties as Personal Representative. It is not a complete list of tasks. The Personal Representative will only be able to determine all tasks after carefully reviewing the will, if there is one, with a Miami probate attorney. Attorneys at Rarick Trusts & Wills Law have helped many family members navigate the bureaucratic Florida Probate process as the Personal Representative. We are available to help you. Contact us at (305) 709-2858 or email to info@raricklaw.com.

Special Note:

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult a Miami probate attorney that is experienced in Florida probate law. Your receipt of information from this website, blog, or Miami probate attorney does not create an attorney-client relationship and the legal privileges inherent therein.

____ 2. Original Will and all codicils (or amendments to the Will)

Note: If you have the original, either personally deliver to the attorney’s office or send via Federal Express or certified mail.

____ 3. Originals of all trusts and any amendments or restatements

____ 4. Copy of paid funeral bill

____ 5. Copies of all deeds for real property owned by decedent

Note: If you cannot locate the deeds, we can usually secure if you provide us with the address of the property.

____ 6. Tangible Personal Property Memorandum or writing indicating instructions for distribution of tangible personal property (such as jewelry, furniture, cars)

____ 7. Income tax returns for last 3 years

____ 8. Copies of all bank statements, brokerage account statements, or reports from investment advisors

____ 9. Copies of all life insurance policies

____ 10. All corporate records if decedent owned any corporations, limited liability companies, partnerships or other entities.

Note #1: For a Checklist of Initial Tasks for the Personal Representative (or Executor) tasks click here: Personal Representative Checklist. For a Checklist of Initial Task for the Successor Trustee, click here: Successor Trustee Checklist.

Note #2: If any documents are located in a safe deposit box, you should not enter the safe deposit box without first clearing that with a Miami Probate or Trust attorney.

This is a short list of initial documents usually needed for a Florida probate or trust administration. After your initial consultation with a Miami probate or trust attorney, you will likely be requested to secure other documents.

Questions? If you have any questions contact a Miami probate attorney at Rarick Trusts & Wills Law, P.A. at (305) 709-2858 or info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami probate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

The person in charge of making sure the property distributions in the Will are satisfied according to the instructions of the decedent is called a “Personal Representative” (referred to in other states as an “Executor”). The Personal Representative (or “PR”) has numerous fiduciary duties that run like a laser beam to the beneficiary. Here are some of the most important:

1. You have a right to secure a true copy of the Will. The original will must be deposited with the court within 10 days of notice of death by whomever has custody of it. F.S. 732.901

If you receive a Notice of Administration from the Personal Representative, it is strongly advisable to immediately request a copy of the Will from the PR.

Note: If the decedent did not have a will, your rights are determined – and protected – according to Florida intestate law. See a Miami probate attorney to help determine your rights and visit our previous article Dying Without a Will in Florida: Who Gets What? for more information.

2. You have a right to receive a Notice of Administration from the Personal Representative that will provide valuable information but will also establish a deadline as to when you can object to the Will. See #3 below. F.S. 733.212

3. If you believe the Will is not the true last will of the decedent, was executed when the decedent lacked capacity to understand what he or she was signing, or was secured as a result of undue influence, you have a right to contest the validity of the Will offered to probate.

Note: If you receive a Notice of Administration, your deadline for challenging the Will is 90 days after receiving said Notice. F.S. 733.212(3)

4. You have a right to see the inventory of the estate. The inventory must be filed within 60 days after the Personal Representative is appointed by the court and receives his or her Letters of Administration. F.S. 733.604??

5. You have the right to receive a detailed accounting filed by the Personal Representative pursuant to F.P.R. 5.345. If the PR has not filed an accounting, you have a right to compel the PR to do so. F.P. R. 5.150 Lastly, you can object to an inventory or accounting filed by the PR.

6. You have the right to Petition for the removal of the Personal Representative. F.S. 733.506.

7. You have the right to petition for an interim distribution. F.P.R. 5.380; F.S. 733.612(26)

8. You have the right to receive an inventory of safe deposit box F.P.R. 5.342

9. You have the right to petition for determination of homestead status of real property. F.P.R. 5.045. Such a petition is often advisable to shield the decedent’s primary residence from claims of creditors.

10. You have the right to petition for a decrease in the Personal Representative’s compensation. F.S. 733.617

This Report is only a summary of the key rights a beneficiary possesses under a Florida Will. It is not a complete list of rights. For more information, contact Phil Rarick, Miami probate attorney, at (305) 709-2858 or info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami probate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

Most divorce judgments call for one of the parties to obtain a life insurance policy for securing 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:

Larry shall establish an Irrevocable Children’s Safe Harbor Trust (“Trust”) to secure the payment of his child support and other financial obligations set forth herein. Within 10 days of execution of this Agreement, Larry shall transfer sufficient funds to the trustee of the Trust to purchase a term life insurance policy with a face value of $750,000 for a term of 10 years. The Trust shall be the owner and sole beneficiary of the insurance policy. The initial trustee of the Trust shall be [CPA, attorney, or independent third party]. The sole beneficiaries of the Trust shall be the children named herein. Said Trust shall be structured to (a) provide for the education, health, maintenance, support, and best interests of the children; (b) to protect the proceeds from creditor claims of Larry, the wife, or the children; and (c) comply with all of Larry’s financial obligations to the children as set forth in this Agreement. [Said Trust is attached hereto and fully incorporated herein.]

The Safe Harbor Children’s Trust could help insure that the policy does not lapse if Larry does not have sufficient funds to purchase the policy outright, but rather needs to pay on a monthly schedule. If a premium payment schedule is needed, it would be wise to have Larry prepay at least 3 months of premium in advance to the Trustee. The trustee would be required to notify the wife if funds for payment of the premium fall below a required minimum balance.

Such monies would be held by the Trustee to ver non-payment and give the wife time to compel the Husband to make payments. An alternative would be to purchase a life policy with the premiums guaranteed.

Note: Larry would want the trust structured to maximize his annual gift tax exclusion of $18000 per beneficiary in 2024. This is accomplished in the trust terms by use of what is known as “Crummey Powers”. Using such powers and assuming Larry has three children, he could annually transfer tax free $42,000 and not be required to file a Form 709 gift tax return.

How We Can Help

The primary focus of Rarick Trusts & Wills Law is trusts of all kinds and estate tax planning. As Miami trust attorneys, we have many years of experience in working with family law attorneys. We are available to consult with you and welcome any questions or comments. For more information, contact Phil Rarick at (305) 709-2858 or info@raricklaw.com. Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami trust attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

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 strategy available to married persons in Florida is to hold title to real estate or other property as Tenants by Entireties. This is a form of ownership only available to a married couple. It is a good strategy to protect assets because a creditor must have a claim against each spouse to reach the asset. If the creditor has a claim against only one of the spouses, the asset is usually well protected.

Of course the problem is that Florida currently does not recognize same sex marriage. However, Delaware does and it also has the advantage of having strong Tenants by Entireties protection similar to what we have in Florida. Delaware also has a strong, modern LLC (limited liability company) statute that provides good asset protection for both single and married persons.

Conclusion

Until such time as Florida joins the national trend to recognize same sex marriage, the safest way to protect real estate and intangible property may be to use a TBE Delaware LLC for same sex spouses or partners. A word of caution: The TBE Delaware LLC must have a robust operating agreement that clearly provides for tenancy by the entireties ownership and charging order protection.

Note: We welcome your questions. Contact Phil Rarick, Miami asset protection attorney, Rarick Trusts & Wills Law, P.A., at (305) 709-2858 or prarick@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami asset protection attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

• The completed application for the certificate of title;
  • This can be found on the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) website
• The certificate of title or other satisfactory proof of ownership or possession;
• An affidavit that the estate is not indebted; and
• An affidavit that the surviving spouse, if any, and the heirs, if any, have agreed on how the estate assets will be divided

D. Testate If the deceased person died testate, (with a Last Will), the application should be made by the personal representative of the estate and must include:

• The completed application for the certificate of title
  • As mentioned above, the form can be found on the FLHSMV website
  • The certificate of title or other satisfactory proof of ownership or possession;
  • If the will is being probated, a certified copy of the will and an affidavit that the estate is not indebted; or
  • If the will is not being probated, a sworn copy of the will and an affidavit that the estate is not indebted.

E. Important Note Probate may only be avoided if the estate is not indebted. If the deceased person had any debts, the creditor claims must first be resolved either by the formal administration of the estate or by the payment of the claims outside the probate proceeding. Conclusion

Assets such as motor vehicles should be transferred to the appropriate recipients as soon as possible after a person passes away according to Florida law. These items generally depreciate in value as time goes on and may be a source of potential liability to the estate.

For more information contact Rarick Trusts & Wills Law at (305) 709-2858 or email to info@raricklaw.com. Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami probate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

Nota Especial

La información en este blog es de carácter general y no esta supuesto contestar preguntas jurídicas para un individual. No confía en la información presentada en este documento para sus problemas individuales legales. Si usted tiene una pregunta legal sobre los hechos y circunstancias individuales, debe consultar a un abogado experto en fideicomiso. La recepción de la información de este sitio web o en este blog no crea una relación de abogado con el cliente y los privilegios inherentes en ellos.

For more information, contact Phil Rarick, Miami trust attorney, with Rarick Trusts & Wills Law at (305) 709-2858 or info@raricklaw.com. Special Note The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami trust attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein. Nota Especial La información en este blog es de carácter general y no esta supuesto contestar preguntas jurídicas para un individual. No confía en la información presentada en este documento para sus problemas individuales legales. Si usted tiene una pregunta legal sobre los hechos y circunstancias individuales, debe consultar a un abogado experto en fideicomiso. La recepción de la información de este sitio web o en este blog no crea una relación de abogado con el cliente y los privilegios inherentes en ellos.

Note: Florida law on pet trusts was changed in 2007. As of July 1, 2007 Florida Statute 736.0408 replaced the previous statute 737.116. If you established a pet trust prior to July 1, 2007, it likely needs to be updated. 5 Points For Your Pet Trust Here are five points to remember in establishing a pet trust:

1. Select the right Pet Caretaker. You are the best person to know who will take good care of your pets. Identify and name that person for your trustee.
2. Set aside a reasonable sum of money to care for the pet for its life.
3. Set aside a reasonable sum of money to compensate the Pet Caretaker.
4. If you have more than two pets, more than likely you want them to stay together. Clearly state this.
5. Ask your attorney to make sure that you can easily add a new pet to the trust that you may acquire after you sign your trust.

We will be happy to help you set up a Pet Trust or modify your existing living trust to take care of your pets. Contact Rarick Trusts & Wills Law, Miami Trust attorneys, at (305) 709-2858 or email us at info@raricklaw.com.

Special Note The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami trust attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

The saddest and most tragic call I have ever received as a lawyer came when a parent called and said her teenage son, while operating a jet ski, had run over a young girl who happened to be about the age of my daughter. I declined the case. The young girl later died, and of course there was a large law suit.

These are the nightmare scenarios you never want to encounter. Of course, the most obvious, common sense step to avoid such tragedies is to make sure that whoever is operating your boat or jet ski is well trained on operation of the vessel and in fact follows safe, recommended operating procedures. With the excellent and free Coast Guard training programs in south Florida there is no excuse not to take advantage of these programs.

After doing the common sense steps, here are three important legal points to know:

1. Do Not hold title in joint name with your spouse – or in your name alone

Holding title in joint name with your spouse is the worst way to hold title to a boat or jet ski. By doing this you have now opened up all assets you hold in joint name to attack in the event of a lawsuit. If you title the vessel in your name alone, you have exposed assets that you own to a lawsuit.

2. Insurance is good – but not enough to protect you

Clearly the vessel should be insured. However, if there is a serious accident, any good personal injury attorney will want to go beyond the policy limits and try to hold you personally liable.

3. Title the Vessel in a Florida, Delaware or Nevada LLC

So, if insurance is not enough, and you should not title the vessel in your name or joint with your wife, then what should you do? The answer is in three parts: (1) title the vessel in a LLC (limited liability company); (2) make sure the LLC has a good operating agreement that is properly structured by a corporate attorney; (3) form the LLC in a state that has strong asset protection laws for LLC’s, such as Florida, Delaware or Nevada.

Note: Many persons think that they can form a LLC for about $500 using an on line company. There is the well-worn saying that “You get what you paid for”. In this case, you will get less than what you paid for – something that is essentially worthless.

Your comments or questions are welcome. Contact Phil Rarick, Miami asset protection attorney, at (305) 709-2858 or info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami asset protection attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

Summary:

The following Alert discusses the Florida real estate form DR-430 required to be filed upon the cumulative transfer or control of more than 50% of the legal entity that owned the property, or transfer of more than 50% of ownership interest.

Notice of Change of Ownership of Control of Florida Non-Homestead Property On January 28, 2009 voters approved an amendment to the Florida Constitution which would impose a 10% cap on the yearly increase in the amount that non-homestead Florida real estate may be assessed. The 10% cap became effective January 1, 2009 and the 2008 value assessments on a property are the base value for that property. Form DR-430 In order to keep track of ownership and assess the appropriate tax to a property the Florida Department of Revenue in conjunction with the property appraiser’s offices for every county in the State of Florida created Florida Department of Revenue Form DR-430. This form tracks the change of ownership of any non-homestead property. A change of ownership or control in non-homestead property according to Fla. Stat. § 193.1554 & 193.1555 equates to a cumulative change of more than 50%. This includes any sale, foreclosure, transfer of legal or beneficial title in equity to a person or the cumulative transfer of control of more than 50 % of the legal entity that owned the property when the most recent assessment was done. The one exclusion from the need to report a change in ownership of property owned by an entity is if the transfer of interest to an entity is to the spouse of the previous owner. Penalty for Non-Compliance If the property owner does not notify the property appraiser of the change the owner will be subject to pay the taxes avoided as well as a 15% interest per annum on all the unpaid taxes and a 50% penalty of the taxes avoided. These sums can be collected for any taxes avoided up to ten years preceding a determination of failure to pay appropriate taxes. Where to File The DR-430 should be filed with the property appraiser’s office for the county in which the real estate is located. Special Note The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami trust attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.