Author: Benjamin Boyhan
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How do you transfer property to your trust?
Many think that a trust is like a will in that you draft a trust, indicate where your property goes when you die, sign the trust with the required formalities, and you are done. This is not the case. For your trust to be effective, your property must be transferred to the trust. This is…
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How do you change ownership of an LLC in Florida?
Changing ownership of a Florida limited liability company (“LLC”) is simple. You can change ownership by using an Operating Agreement or an amendment to your Operating Agreement. An Operating Agreement is a private document that governs the internal operations of the LLC. An Operating Agreement is where you list the members and managers of the…
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Can a trust own membership interest of an LLC?
Someone owning membership interest in a limited liability company (“LLC”) is considered a member of the LLC. Under Florida law, a “member” of an LLC is broadly defined as any “person.” Florida law defines “person” as an “individual, business corporation, nonprofit corporation, partnership, limited partnership, limited liability company, limited cooperative association, unincorporated nonprofit association, statutory…
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Does your ex-spouse still inherit from your Will in Florida?
If you write your will during your marriage, odds are, you are leaving some of your assets to your spouse in the Will. What happens if you write your Will while you are married, you are leaving property to your spouse, you divorce, and you do not update your Will before your death? Does your…
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Can you disinherit a spouse in Florida?
Florida law protects disinherited spouses. Surviving spouses are almost always entitled to at least an elective share (30% of deceased spouse’s estate) unless the surviving spouse waived the elective share in a pre-nuptial or post-nuptial agreement. Elective share – The elective share is 30 percent a deceased spouse’s estate. Unless the elective share is waived,…
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What is a Living Will?
A Living Will (also known as an Advance Healthcare Directive) is a legal document that indicates the kind of medical treatment you want to receive if you became incapacitated and unable to make healthcare decisions for yourself. A Living Will is part of most basic estate plans (Will, Living Will, Financial Power of Attorney, and…
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Who can make healthcare decisions on your behalf in Florida if you become incapacitated?
There may be a time when you become incapacitated because of an accident, illness, old age, or some other reason and you are unable to make healthcare decisions. Ideally, you will have a written Designation of Healthcare Surrogate that appoints an individual whom you want to make healthcare decisions on your behalf. If you do…
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How do you revoke a Florida Designation of a Health Care Surrogate?
A Florida Designation of Healthcare Surrogate (“Designation”) allows you to appoint someone (your “Surrogate”) to make healthcare decisions on your behalf if you become incapacitated. Once you sign a Designation, it will be effective until you revoke it or pass away unless you specify a termination date. You can revoke your Designation at any time.…
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What is a Florida Designation of Healthcare Surrogate?
A Florida Designation of Healthcare Surrogate should be a staple used in every estate plan. It allows you to appoint someone (your “Surrogate”) to make healthcare decisions on your behalf if you become incapacitated. There may be a time when you become incapacitated because of an accident, illness, old age, or some other reason. Knowing…
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When is someone considered incapacitated in Florida?
Pursuant to Florida Statute 744.102, an incapacitated person is defined as “a person who has been judicially determined to lack the capacity to manage at least some of the property or to meet at least some of the essential health and safety requirements of the person.” In other words, an incapacitated person is someone who…
