Month: June 2020
Linda on a manatee rescue…fun clips
As some of you may know I volunteer on the Clearwater Marine Aquarium stranding team. I thought you all might enjoy a change of scenery from our normal tax and law notes so enjoy a clip of a successful manatee rescue and release!...
Inherited IRAs.. Exempt or Non-Exempt From Creditors
In a recent United States Supreme Court decision, Clark v. Rameker, Trustee, the Court determined that inherited IRAs are NOT exempt under federal bankruptcy law. The Court decided that an inherited IRA did not have the same characteristics of a “regular” IRA in...
Have you ever wondered what all that legalese language is at the END of a lawyer’s email???
If you are like me you like short explanations and easy to read information. Many times we attorneys (yes.. me also) make it a lot more complicated than it has to be. If you notice at the end of a lawyer’s email there is a lot of language that no one reads, no one...
Beneficiary Designations and Divorce
As you probably know, Fla. Stat § 732.703 was created and now governs the effect of divorce, dissolution or invalidity of marriage on the disposition of certain assets with beneficiary designations, like life insurance and IRAs. A beneficiary designation made by the...
What’s New in 2015?
In the 2015 session, the Florida legislature passed some very important bills applicable to guardianships, health care surrogates, minors, estate planning and probate. Here are a few of those with links to the actual bills: 1. HB 5, which has been signed by the...
If You Are An Innocent Party, Can The IRS Foreclose On An Interest That You Own?
Under tax law, the Internal Revenue Service (the “IRS) has a lien on a taxpayer’s property for unpaid taxes. The U.S. Attorney can direct a civil action to enforce the lien and the court can adjudicate all matters and can direct a sale of the property and the...
ALWAYS Request Release from Personal Liability for Estate Taxes…It Could Save You from Catastrophic Financial Consequences!!!
In the recent case, United States v. John Michael Paulson, 2000 WL 1821022 (3.23.2020), a California Federal District ruled in favor of an executor of an estate for release from PERSONAL liability for estate taxes. John Michael Paulson (“Mike”) became an initial...
New Nevada Supreme Court Case…Protection from Spousal and Child Support Obligations
We do not know what will happen in the future with our marriage, our children or any other facet of our lives. None of us PLAN on getting a divorce when marrying the love of our life, we do not PLAN paying child support when a child is not under our roof and certainly...
Child Support Claim Takes Precedence Over Interest in Special Needs Trust
In a recent Florida case, the court determined that, even though father is a beneficiary of a special needs trust which contains a spendthrift provision, and he is only entitled to trust assets for supplemental income while maintaining eligibility for federal...
What Happens If A Beneficiary Does Not Claim Life Insurance Death Benefits? You May Be Surprised!
If you have a life insurance policy, then hopefully you have named a beneficiary. We often discuss the appropriateness of the beneficiary designation in the estate planning meeting. But what happens if your beneficiary does not claim the proceeds or does not know...