Ryan M. Mynard, Attorney at Law, P.A.

April 2018 Archives

WHAT IS THE DIFFERENCE BETWEEN A TRUST AND A WILL IN FLORIDA?

Wills and trusts are among the basic building blocks of estate planning, and yet many people are unsure of what exactly the difference is between the two. Below, we go through the essential aspects of wills and trusts, and how both can be critical to furthering your Florida estate planning goals.

Funding a trust is an important part of estate planning

People in Florida generally prefer not to think about death. However, estate planning is a critical part of planning for the future, as without an estate plan, people's assets may not end up in the intended hands when they pass away. A living trust is a particularly handy estate planning vehicle.

WHAT ARE THE DIFFERENCES BETWEEN A GENERAL PARTNERSHIP AND LIMITED PARTNERSHIP IN FLORIDA?

If you are carrying on a business with at least one other person in Florida, you may be wondering whether you need to create a business organization and complete filings with the state, such as through creating a partnership or corporation. You may be surprised to know that, if you are working with another person in an ongoing business, you are already considered a general partnership under the laws of Florida, even if you have never filed a document with the state or even have drawn up a partnership agreement.

AVOIDING PERSONAL LIABILITY AS A CORPORATE SHAREHOLDER IN FLORIDA

There are numerous benefits that come with choosing to conduct your business entity as a corporation, but one of the most prominent benefits is the protection against personal liability. Put another way, if a corporation racks up debts that it cannot pay - whether from unfulfilled contracts, liability in a personal injury lawsuit, or any other source - the corporation may end up becoming insolvent, but the shareholders will not be liable for the corporation's debts.

FIVE CRITICAL STEPS IN CREATING YOUR FLORIDA NOT-FOR-PROFIT CORPORATION

Whether you are setting up a charity, religious institution, school, medical institution, or other nonprofit in Florida, there will be some legal requirements for you to fulfill to carry on the important work of your organization. Nonprofit organizations seeking to form pursuant to Florida's Not-For-Profit Corporation Act ("FNPCA") are encouraged to work with experienced corporate counsel to ensure that they are complying with all state and federal requirements and getting the best legal treatment possible, but here is an overview of five critical steps to keep in mind.

Beneficiary designations need attention during estate planning

Creating wills is certainly an important part of preparing for the future. However, an often neglected aspect of estate planning in Florida is updating beneficiary designations. For this reason, many asset owners have deceased relatives or even previous spouses named as their beneficiaries on their retirement accounts or life insurance policies.

Five mistakes to avoid when estate planning

Creating an estate plan is a serious undertaking. You’ve spent a lifetime accumulating assets, so their eventual distribution should be in tune with your wishes. While even taking the steps to compose an estate plan shows diligence, it ultimately needs to be well-constructed in order to ensure a seamless execution.

CAN I GET MY MARRIAGE ANNULLED IN FLORIDA?

Most people know little to nothing about how divorce actually works until they get to the point when they themselves wants to obtain one (or their partner does), and a common question people have at the very beginning of thinking about divorce is whether or not they can get an annulment. This is an understandable thought, as annulment seems to many to be a simpler process. But while annulment is available as a legal option for terminating a marriage in Florida, it only applies to a limited number of situations, and, even when it does, is not necessarily simpler or "easier" than divorce.

Moments that warrant a review of your will

A couple of months ago, we wrote a post about wills and how people could challenge a will based on a claim of undue influence upon the grantor. We want to to continue the discussion about wills today, but take it in a different direction: when you have a will, it is imperative that you update it frequently.

WHO CAN GET A DIVORCE IN FLORIDA?

Few people get married with the idea that they will one day be thinking about divorce, and the first steps in figuring out how to actually go about obtaining a legal order granting you the divorce can be deeply confusing. One of the first questions people considering divorce in Florida have is about who is eligible to actually seek a divorce in the state, especially where the couple was not married in Florida and/or where one of the spouses does not live in the state.

DEFENDING AGAINST A CONSTRUCTIVE EVICTION ACTION IN FLORIDA

Commercial and residential landlords in Florida obviously depend upon the incoming periodic rent payments as guaranteed by their leases with tenants. A favorite tactic of a tenant who longer wishes to abide by the terms of the lease is to stop paying rent by claiming that a constructive eviction has taken place.

HOW LONG DOES ALIMONY LAST IN FLORIDA?

Alimony is a term most people know from popular culture, but many misconceptions about alimony abound. This is partly due to the fact that alimony laws are set by state law and can vary widely from state to state. Furthermore, judges have wide discretion in how they set the amount and duration of alimony, and will consider a number of factors in doing so, thus what you may have heard secondhand from a friend or family member's divorce matter may have little relevance to your own divorce. One of the main questions people have regarding alimony in Florida - whether they believe they will be on the receiving end or the paying end of it - is how long alimony will last.

Schedule A Consultation

With offices in Crestview, we advise and represent clients throughout Northwest Florida. To speak with a dedicated and compassionate estate planning and probate lawyer, please call 850-683-3940 or contact us via email. We would be honored to speak with you about your concerns.

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Ryan M. Mynard, Attorney at Law, P.A.

Ryan M. Mynard, Attorney at Law, P.A.
420 East Pine Avenue
Crestview, FL 32539

Phone: 850-683-3940
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