May 2010 Archives

May 28, 2010

Digital Asset Trust Lawyer: Digital Death Day

Digital Death Day is the idea that when we die physically, we may want to decide what happens to our digital profiles and accounts, whether that entails deleting or claiming the information. In the physical world individuals tend to leave paper trials so that their heirs may find important documents, but in the digital world the paper trial vanishes. Whether assets are economically or sentimentally valuable assets, they may be lost when we die.

Recently, a conference was held in California which discussed some of the issues involved with digital assets and what becomes of them when we die. Participants included attorneys, funeral directors, hospice services, obituary columnists and memorial services. In addition, representatives from many digital asset services offering digital afterlife management attended including Entrustet, Legacy Locker, online-legacy.com, digitaldeath.eu, and digitalestateplanning.com.

As the digital environment grows and the area of law develops, many people will seek to ensure that their legacy remains after they are gone. In the future individuals who use a computer to store information should utilize a Digital Asset Protection Trust for all their digital assets to pass to their heirs. Consult your Florida Digital Estate Planning Lawyer for guidance on how to protect and distribute your digital assets and Digital Asset Protection before your digital death day.

May 24, 2010

Can a Florida Will/Trust Disinherit a Child for Religious Reasons?

will.jpgIn many cultures it is important to parents that their children marry into their religion. Orthodox Jews often disinherit their children and will even stop speaking to them if they marry outside the Jewish religion. While public policy will not permit a provision in a Florida Will or Florida Revocable Trust or prevent a person from getting married, it is ok to withhold a inheritance from a child or relative if they marry outside the religion. This type of provision needs to be written carefully so that it does not violate Florida state law or public policy.

If the provision is written incorrectly it will be stricken from the Florida Will or Florida Revocable Trust.

If you want to provide provisions in your Florida Estate Planning Documents to encourage certain behaviors, you should contact a Florida Estate Planning Lawyer to discuss your desires and help you create a plan to achieve your desired result.

May 10, 2010

Inherited IRA Not Protected from Creditors in Florida Second DCA case rules

In the case of Robertson v. Deeb 16 So.3d 936 (FL. Dist. Ct. App. 2 DCA 2009) the court held that an inherited IRA does not have the same creditor protection that an individual's IRA by concluding that F.S. 222.21(2)(a) “does not apply to inherited IRAs because the plain language of that section references only the original ‘fund or account’ and the tax consequences of inherited IRAs render them completely separate funds or accounts.”

May 7, 2010

Florida - Do it Yourself Estate Planning goes bad

Jacksonville, Jacksonville Beach, PVB, Ponte Vedra Beach, Orange Park, Florida WillIt has been a while since I updated my Do it yourself estate planning mistakes but I wanted to point you to some of the previous articles on the unintended consequences that can occur when individuals and family members use fill in the blank forms that are not customized for their specific family situation.

Some other examples of Do it your self wills and bad news are covered in my articles listed below

Do it Yourself Wills? More bad news and
Do it Yourself Wills? a Good Idea or Not?
Do it yourself Estate Planning: Bad News Part 3
Do it yourself Estate Planning: Bad News Part 4
Do it yourself Estate Planning: Bad News Part 5
Do it yourself Estate Planning: Bad News Part 6
Do it yourself Estate Planning: Bad News Part 7
Do it yourself Estate Planning: Bad News Part 8
Do it yourself Estate Planning: Bad News Part 9
Do it yourself Estate Planning: Bad News Part 10

If you need a Florida Will or Florida Revocable Trust reviewed or created, please contact a Florida Estate Planning Lawyer to help you determine what is appropriate for your situation.

May 5, 2010

How to Defend a Foreclosure in Jacksonville

foreclosure_sign_home.jpgIn Jacksonville a Florida Foreclosure Lawyer uses many laws that regulate the mortgage lending process to defend your Jacksonville Foreclosure. The first step is to determine what laws and issues apply to your case by doing a careful analysis of your specific circumstances.

When you talk with a Jacksonville Foreclosure Lawyers its important to determine your objectives from the start and make sure that if they are met, you will be able to afford the home and are just not delaying the inevitable. Do you want to keep the home, reduce penalties, clear your credit, or simply dispose of the home with as little damage to you as possible?

Its important to know whether your current loan was the original loan or a later refinance of the original loan and the date the loan was taken out. There are certain remedies that expire and before perusing a remedy it is important to know whether it will still be available.

We also want to know whether you were given false or incorrect information about your loan or the terms of the loan were change on you at the last minute. Sometimes a mortgage broker fills out incorrect information or steers you into a loan that makes them more money but is harmful to you and your family.

It is also important to look at how each payment was applied and that it was applied correctly. Many banks apply the funds incorrectly to their benefit in order to maximize fees and penalties.

In Jacksonville and the surrounding counties of Clay, St. Johns and Nassau, the courts have implemented a mandatory mediation that will be at the beginning of any new foreclosure lawsuits. It is important to have legal representation at this foreclosure mediation so that you are not talked into a bad deal. The banks will be represented by lawyers and they will be trying to get you to waive future rights and remedies that you may have. You should contact a Jacksonville Foreclosure Lawyer to discuss what options you have and how save your home or achieve your goals.

For more information on Jacksonville or Florida Foreclosure Defense See the Florida Foreclosure Defense Lawyers Blog.

May 3, 2010

Florida Homestead Protection and Creditors: Will your home be protected upon your death?

house.jpgWhen a person dies, who owned a property protected by a Florida Homestead we generally expect the property to be free from the claims of creditors.

There are certain situations when this is not true and other types of planning could prevent creditors from making claims against your Florida Homestead.

So when will your property lose homestead protection upon your death:
1) if you are not survived by a spouse or children and devise your property o people not listed in Florida Statute 732.103.
2) If you are not survived by a minor child and have a valid prenuptial agreement or waiver of homestead rights with your spouse and devise the property to someone not named in Florida Statute 732.103.

(Florida Statute 732.103 deals with the spouse, descendants, parents, siblings, grand parents, uncles, aunts, their kindred, and great-grand parents.)

If you want to leave your homestead to someone who is not defined in Florida Statute 732.103 we can help you maintain protection from the claims of creditors and avoid probate. Since there can often be many unexpected and significant expenses associated with end of life, it could be a good idea to plan to protect what could be your single largest asset- your home.

Note that many people incorrectly believe that a Revocable living trust can protect your home from the claims of creditors. While there may be homestead protection for those defined in Florida Statue 732.103, a Florida Revocable Trust in an of itself does not provide asset protection.

To talk about how to protect your assets and home from the claims of creditors, contact a Florida Estate Planning Lawyer.