Florida Estate Planning Lawyer Blog

June 9, 2011

Pet Trust for Can Save Your Dogs.

Jacksonville Florida loves its dogs, and this is no truer than at the Law Office of David M. Goldman PLLC where on Friday’s, it’s bring your dog to work day. At the Law Firm, we always wag, we bark, and when necessary we bite. As Florida Estate Planning and Florida Probate Attorneys, we know the importance of creating legal documents to provide for your loved ones after you are gone. But what happens to your 4 legged best friends when you are gone? Who looks out for their best interest?

The Florida Statutes allow for the creation of a trust for the care of your pets. A Pet Trust will enable you to designate a certain amount of funds for the support and maintenance of your pets. You can also choose the person(s) who will be able to utilize the funds you have established for the continued care of your animals. You may also include a provision pertaining to the care and support of your pet(s) in your Last Will and Testament.

At the Law Office of David M. Goldman, we not only help you provide for your future with estate planning, but we care about you and your family today. Whether you need to initiate a guardianship proceeding over an elderly loved one or disabled adult, or whether you need criminal law defense for someone who has barked upon the wrong tree, or perhaps you are contemplating Bankruptcy, the Jacksonville Lawyers at the Law Firm will be happy to consult with you, will strongly (bark) advocate for you, and finally, will fight for your cause with all the bite that is needed.

June 8, 2011

Florida Gay, Straight, Homosexual, Heterosexual – It’s All the Same!

by Patricia Davis

If you think a Jacksonville same-sex couple is different from you, just ask them. You will find that the problems same-sex couples have with each other are the same complaints you have about your heterosexual wife or husband. Whether it’s how the bed is made, how the vegetables are chopped, or whether the toothpaste is squeezed from the bottom or middle, there is no difference.

Unfortunately, there is a major difference on how same-sex couples are treated by Florida Law. If a married man and woman die without a Will, the Florida Intestacy Statutes will provide that the surviving spouse is able to remain in the home as well as to receive a certain share of the deceased’s spouse estate.

Not so, for the same-sex couple who might have been together for more years than the heterosexual couple. If a same-sex partner dies without a Will (and the house and other assets are titled in that person’s name alone), the surviving partner gets Nothing.

June 3, 2011

Florida Asset Protection:New LLC Law becomes effective

by David M. Goldman

On May 31, 2011, Governor Rick Scott approved House Bill 253. The Bill was crafted in response to the Florida Supreme Court decision in Olmstead v. FTC last year. It clarifies that a charging order is the sole remedy available to a creditor who holds a judgment against a member of a multiple member LLC. However, single member LLC’s remain vulnerable to creditors forcing a debtor to surrender all right, title and interest in his LLC to satisfy an outstanding debt.

If you are interested in learning more about how to protect your Florida assets, contact a Jacksonville Asset Protection Lawyer to talk about your circumstances and the different options available in Florida.

June 2, 2011

Creating a Florida Dynasty Trust

by David M. Goldman

Florida Dynasty Trusts are generally used to keep assets within your family members or descendants. The person who creates this type of trust usually has significant assets which are far in excess of $1,000,000 which they want to protect from the misuse or dissipation of family members. A Florida Dynasty Trust can also protect the assets within the trust from the reach of future creditors of your born and unborn family members.

Florida is a great state in which to create a Dynasty Trust. This type of trust is regulated by state law, so where a person decides to create the trust will govern which state’s law will regulate the trust. Florida’s state law allows for a person to create a Trust for the benefit of another (usually children or grandchildren) plus 360 years after that benefited person has died. This is a longer than many states that have a limit of 21 years after the death of the beneficiary who was alive at the time the trust was created.

There are many options that need to be considered when creating a Florida Dynasty Trust such as who the trust’s assets (income and/or principal) should vest in and which state law the trust should be interpreted under. A Florida Dynasty Trust may be able to protect your assets from creditors even though you live in another state. To contact a Florida Irrevocable Trust Attorney. For more information on Florida Trusts please contact us to discuss your specific goals and circumstances or visit the Florida Estate Planning Lawyer Blog for general information.

June 1, 2011

Recent Changes for Retirement Accounts in Florida

by David M. Goldman

If you have a Retirement Account in the State of Florida, a recently enacted law will provide your heirs stronger asset protection in Florida.

An individual Retirement Account is a form of retirement savings that provides tax benefits to the owner of the account. The account is primarily used as a means of saving for retirement. When the owner of an Individual Retirement Account dies, the account may be transferred to a named beneficiary. When transferred, it is known as an inherited Individual Retirement Account.

Generally, Florida law provides for protection of various assets from creditors, which protection extends to bankruptcy proceedings. Under the old Florida law, a regular Individual Retirement Account was exempt from creditor claims, but an inherited Individual Retirement Account was not.

May 28, 2011

Adopted Children Inherit from Whom?

by Patricia Davis

When a parent has died in Florida without a will, they have died intestate. Under the Florida intestate succession statutes, an adopted person is considered to be the descendant of the adopting parent and is considered the natural family of all members of the adopting parent’s family. The adopted person is not a descendant of his or her natural parents, nor is he or she “kindred” of any member of the natural parent’s family or any prior adoptive parent’s family.

The confusion as to whom an adopted person can inherit from stems from the several scenarios in which that person may be adopted. A child may be put up for adoption after their natural parents have terminated their parental rights. A child may be adopted by his or her natural parent’s spouse (who married the natural parent after the death of the other natural parent). A child may be adopted by a close relative after the death of both natural parents.

Each scenario has different implications as to how an adopted child is treated as far as his or her inheritance rights. It is best to consult with a Probate Attorney who can assist you in understanding your legal rights when your adopted or natural parent has passed away.

May 27, 2011

Florida Probate Process!

by Patricia Davis

Probate comes from the root word “to prove”. When someone in Florida has passed away leaving assets in his or her name only, a probate proceeding must be initiated. The first step is “proving” to the St. Johns Probate Judge that the Will you are presenting to him or her is the valid Will of the person who has died.

The goals of the Florida Probate process is:

1. To gather and inventory all the estate assets;

May 25, 2011

Are Florida Residents Suffering from Gender Identity Disorder.

by Patricia Davis

Gender Identity Disorder in Florida is a real, serious and often untreated disease. A recent federal case ruling validates the existence of Gender Identity Disorder (GID) which may affect many Florida Gay, Lesbian and Trans-gender persons.

The U.S. Court of Appeals for the 1st Circuit has upheld an order requiring the Massachusetts Department of Corrections to give hormone therapy to an inmate diagnosed with gender identity disorder. The court ruled that prison officials acted with deliberate indifference to the inmate’s medical needs, in violation of the Eighth The lawyer representing the inmate reported the importance of the 1st Circuit in recognizing that if left untreated, gender identity disorder could be extremely important. See Inmate with Gender Identity Disorder.

If you are a gay, lesbian, or transgender individual who would like to learn about how the law either protects or does not protect certain rights, consult with a Florida Attorney about the legal documents that you can have prepared to protect yourself.

May 16, 2011

Ashes to Ashes, Dust to Dust, Deed to Deed

by Patricia Davis

If your last parent in Florida has passed away leaving their Jacksonville home, how do you proceed if you want to sell the house? A Florida deed transfers title to real property from one person(s) to another. Generally before anyone will purchase a property, they will require clear title to the real property.

Whether your surviving parent died with a Florida Will or without a Will (intestate), if you want to sell the home, title to the property will need to be transferred to your parents to the named beneficiary or heir. A Florida probate proceeding is necessary to transfer title to the real property in such a way as to establish clear title. Florida statutes require that a Jacksonville Probate Lawyer or a Florida Probate Lawyer is used to represent the Personal Representative or Estate when there is more than one heir in an estate.

May 12, 2011

Beneficiaries of Inherited IRAs May Soon Have Asset Protected IRAs

by David M. Goldman

Florida House bill 469, which was recently passed by the house and senate, states that an inherited IRA is asset protected for the Florida domiciled beneficiary. This is a recent change to court decisions which did not protect the beneficiary of an IRA from creditor’s claims. This new law should even apply in Bankruptcy because in Florida the Bankruptcy court uses and analyses state law to determine certain exemptions.

The bill is expected to be signed by Governor Scott soon.