Sat, 19 May 2012 16:37:59 -0500WeeblyMon, 30 Jan 2012 13:53:55 -0500http://tfblaw.com/1/post/2012/01/what-happens-if-you-die-without-a-will.htmlIf you die in Florida without a last will and testament or the Courts refuse to recognize your last will and testament because of some defect, the Court may transfer your property to others through the process of intestate succession.  Intestate succession is “the method used to distribute property owned by a person who dies without a valid will.”  Black’s Law Dictionary 687 (3d pocket ed. 2006).  Florida statutes provide the means for distribution of your property to others.  Distribution depends in part on your family structure, the type of assets you own, how those assets are titled, as well as other important considerations.

The following are a few examples of how a Court may divide your property if you die without a last will and testament: 

1.      If you are married with children (and all of your children are your spouse’s children) at the time of your death, your spouse will generally receive the first $60,000 of your property plus half of the remaining property.  Your children will equally split the other half of the remaining property. 

2.      If you are married with children but some of your children are not your spouse’s children, then your property will be divided 50% to your spouse and the rest evenly divided between your children. 

3.      If you are married without children, your spouse will receive 100% of your property. 

4.      If you have children and you are unmarried, your children would equally split your property.

It is important to note that some of your property may be exempt or spent prior to distribution and will not be included in the above analysis.  Exempt property may include homestead property, an allowance to assist the family during the probate process, household furnishings, personal vehicles, tuition programs, as well as other property.  The Court does not consider exempt property when determining property distributions.

There are many issues that you should consider when planning your estate.  In addition to the above, your children may be unable to handle their own finances and a trust may be an appropriate vehicle to protect assets you leave to them.  A last will and testament is a good way to plan for distributing your property, paying probate expenses, and appointing a personal representative to handle your estate during the distribution process.  Without a last will and testament, the Courts determine how to distribute your estate by looking to Florida statutory laws.  

]]>Tue, 27 Dec 2011 16:52:25 -0500http://tfblaw.com/1/post/2011/12/administrative-dissolution-and-your-personal-liability.htmlFlorida's Department of State may administratively dissolve a Florida corporation for several reasons including the following:

1. The failure to file an annual report;
2. The failure to designate a registered agent or registered office for more than 30 days;
3. The failure to notify the Department of State within 30 days of any change in registered office or agent; 
4. The failure to truthfully answer interrogatories from the Department of State; or
5. The natural expiration of the corporation as directed by the articles of incorporation.

Regardless of the reason for dissolution, Florida Statutes and case law provide that any director, officer, or agent acting on behalf of a dissolved corporation may be personally liable for the debts, obligations, and liabilities of the corporation if he or she knew or should have known of the company's dissolution.

Once the corporation is reinstated, however, personal liability may be terminated if the business ratifies the action of those directors, officers, or agents. A company may be reinstated by applying to the Department of State any time after the administrative dissolution. To maintain the limitations on personal liability for directors, officers, or agents of a corporation, it is important to avoid administrative dissolution or quickly reinstate a dissolved corporation before an individual acts on behalf of that corporation.

For additional information email Thomas Baker at info@tfblaw.com or call (786) 519-0022.

]]>Wed, 21 Dec 2011 14:04:30 -0500http://tfblaw.com/1/post/2011/12/florida-security-deposit-disputes.html Disputes commonly arise between landlords and tenants over security deposits.  Landlords must comply with the specific requirements of the Florida Statutes in order to claim the tenant's security deposit or any part of it.  Landlords often fail to follow those statutory requirements which frequently leads to forfeiture of any claim the landlord may have had against the security deposit.

Florida laws clearly supply the proper procedure for making claims against security deposits.  A landlord must return the tenant's deposit within 15 days or, if he or she intends to impose a claim against the security deposit, he or she must provide the tenant with notice by certified mail within 30 days. 

Noncompliance with Florida Statutes carries a hefty penalty.  A landlord who fails to provide notice to the tenant within 30 days forfeits any claim against the security deposit.  Further, if a lawsuit is filed to recover the security deposit, the prevailing party may be entitled to reasonable attorney's fees and court costs.

For additional information email Thomas Baker at info@tfblaw.com or call (786) 519-0022. 
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