Stephen H. Artman, P.A.FindLaw IM Template2024-02-28T13:05:50Zhttps://www.artmanlawoffice.com/feed/atom/WordPress/wp-content/uploads/sites/1101126/2019/07/cropped-Artman2-1-32x32.pngOn Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=595712024-01-27T20:18:34Z2024-01-30T20:17:51ZClear roles
One factor in maintaining business operations during a dispute is having clearly defined roles and responsibilities for each partner. When these are well-established from the outset, the day-to-day functions of the business can proceed smoothly. Employees and other stakeholders will have a clear understanding of who is responsible for what, reducing the potential for internal disruptions.
Communication channels
Effective communication is the backbone of any successful business. Establishing open communication channels prevents delays in discussions. Maintaining transparency about ongoing issues and potential solutions helps keep the business moving forward while partners work through their disagreements.
Conflict resolution
Seeking mediation or starting a conflict resolution process becomes important. Having a structured method for resolving conflicts can prevent disruptions to daily business operations. By involving a neutral third party, partners can work towards finding common ground.
Backup plans
Smart business planning includes having backup plans in place for various scenarios, including partner disputes. Documenting these plans ensures that there are steps to follow when disagreements arise. This strategic approach reduces the impact on day-to-day operations.
Unified front
Even during disputes, maintaining a unified front externally is important for the company's reputation. Partners should strive to present a united front to clients, customers and other stakeholders. Projecting stability and professionalism helps preserve everyone's image.
Disputes between business partners are inevitable, but their impact on day-to-day operations can be small. By paying attention to certain factors, partners can navigate disputes without compromising the overall success of the business.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=595462023-12-04T19:55:04Z2023-12-04T19:55:04ZSole ownership
Assets the deceased solely owned will typically have to pass through probate proceedings. Due to the solo ownership, there is no legal pathway for someone else to take over, so the court has to step in. Through probate, the court will find the rightful heir who has the ability to take over legal ownership of the asset.
Provisions for distribution
If assets have a lack of clear provisions for distribution, such as a beneficiary or specific instructions within a will or trust, then they will go through probate. When assets lack these explicit directives, the court intervenes to ensure an orderly and fair distribution among potential heirs.
Examples of probatable assets
Two of the most common examples of assets that have to go through probate are real estate and financial accounts. Real estate may have to go through the process when the deceased was a sole owner. There may be exceptions if it is a homestead. Bank accounts and investment accounts, including stocks and bonds, also may go through probate.
Understanding the intricacies of probate-bound assets underscores the importance of estate planning, allowing individuals to safeguard their legacy and facilitate a seamless asset transition process for their heirs.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=595442023-09-28T23:44:56Z2023-09-29T23:44:49ZThe numbers speak volumes
Surprisingly, statistics show that a significant portion of the American population does not have a proper estate plan in place. According to CNBC, approximately 67% of American adults have not drafted a will, which is one of the foundational elements of estate planning. This statistic is concerning, considering the potential consequences of passing away without a will.
The consequences of inaction
When an individual dies without a will, their assets are subject to the intestacy laws of their state. This means that the state will decide how others distribute their assets, which may not align with their wishes. Furthermore, in the absence of clear instructions, family disputes can arise, leading to lengthy and costly legal battles.
An estate plan can help those who worry about what their beneficiaries will get and struggle with fears and worries about the future. Understanding the importance of estate planning and taking action is a key step whether someone has a lot of assets or not. The size of a person's estate does not matter as much as the methods they take to protect it.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=595422023-08-09T18:58:03Z2023-08-09T18:58:03ZCreditors and the probate process
In Florida, creditors have a limited time to present claims against an estate. After the death of your loved one, creditors have three months to file their claims once the estate publishes the notice to creditors. The claim typically becomes unenforceable if a creditor does not file within this period.
What can creditors claim?
Creditors can make claims for outstanding debts your loved one owed at the time of death. This includes credit card debts, medical bills and personal loans. However, creditors cannot simply take everything. Florida law provides specific protections for certain assets.
Homestead protection
Florida law offers significant protection for homestead property. If the deceased's primary residence qualifies as a homestead, it is usually exempt from claims by unsecured creditors. The homestead exemption protects 160 acres in an unincorporated county and 1/2 acre in a city. This means the home often remains with the family, regardless of other debts.
Exemptions for family
In addition to the homestead protection, Florida law also allows certain exemptions for the family. These exemptions may include personal property up to a specific value, and benefits like life insurance may also remain protected.
Priority of claims
Not all creditors have equal standing in the probate process. Some claims have priority over others. For example, funeral expenses and certain taxes come before unsecured debts like credit cards. This ranking can affect what creditors receive from the estate.
If you are navigating the Florida probate process, understanding these rules and protections can alleviate some concerns about creditors taking all that your loved one has left. With knowledge of the laws in place, you can move through the probate process with a better sense of what to expect and how to protect your family's interests.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=595402023-06-09T21:19:03Z2023-06-09T21:19:03Z1. Consider your loved one's wishes
If the person requiring care is of sound mind and able to communicate their wishes, take their opinion into account when considering guardians. The closer the bond between your loved one and their guardian, the more likely the guardian is to make decisions in the ward's best interests.
2. Evaluate their needs
You should also evaluate what your loved one needs when looking for a suitable candidate. For example, if they require a high level of care or ample one-on-one time, their guardian should be able and willing to accommodate those needs.
3. Examine the potential candidate's fitness for the role
Asking several questions can help you determine a potential candidate's fitness for the role of guardian. Are they in good health? Do they know how to manage their own affairs responsibly and effectively? Do they have the time, money and patience to devote to your loved one's care? Additionally, a person convicted of a felony is not eligible to be a guardian in Florida, so keep that in mind when weighing candidates.
Selecting a guardian for someone you care about is challenging but vital. Remember these tips as you begin the guardianship process.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=590902023-04-03T21:26:48Z2023-04-07T21:25:59ZFlorida law outlines how to handle these disputes through partitioning.
What is a partition?
Partitioning is a legal tool for settling disputes among co-owners of a property. It allows each owner to receive their share of the property when disagreements arise. Partitions usually come into play when at least one interested party does not want to negotiate change. Examples of common reasons for partitioning include divorce, heir disputes and owners having different goals for the property.
What are some possible outcomes of partitioning?
Partitioning typically has a few possible outcomes. If one or multiple parties wish to dissolve their interests in the property, while one or more parties want to acquire the other shares, they can arrange a buyout. If the property owners cannot successfully organize a buyout deal, owners can petition the court for partitioning. There are two types of partition. The first partition type is "in kind," in which a court equitably divides the property among its owners. The title will reflect this change. The second form of partitioning is "by sale," which involves selling the property and equitably dividing the proceeds among its owners. Partitions by sale take place either through a private sale or public auction.
Florida law makes provisions for handling real estate disputes. Understanding the role of partitions can make a difference when struggling with contentious real estate issues.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=590772023-01-31T02:50:51Z2023-02-07T02:49:56ZAttending to the home's condition
Sellers should have the house in prime shape to get top offers. Attention to curb appeal, repairs and maintenance bring in more street traffic. Most home shoppers will first see the property online, so excellent staging and photos will draw people.
Setting the right asking price
Sellers must prepare to bargain, and buyers likely expect the homeowner to come down a bit on the original asking price. Sellers cannot start too aggressively, or shoppers will stay away. Owners are better off following the market trends and not their hearts. Since home prices still maintain a higher value than years ago, a profitable deal should be possible.
Getting help to negotiate and draft contracts
When a market swings in favor of buyers, purchasers can push for extra contingencies and concessions. A high number of buyers begin to back out of deals when they have more options.
A real estate attorney can help a seller have a smooth transaction and avoid someone taking advantage of them. The attorney can review contracts and help to settle negotiations. If any legal issues arise, the attorney can handle the seller's case.
Most people struggle to understand the finer details of a contract. A real estate lawyer can review the documents and explain what they mean in plain English.
Selling a home takes hard work and focus. By getting the proper assistance and making intelligent moves, the process can be a positive one.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=590712022-12-07T02:06:12Z2022-12-09T02:05:10ZEstate planning
You can avoid sending assets through probate by creating an estate plan and encouraging your loved ones and relatives to do so as well. An estate plan typically includes documents that specify end-of-life requests and a will that names executors and beneficiaries. Parents can use estate plans to determine guardianship arrangements for their children. Many estate plans also designate individuals with legal and medical powers of attorney in cases of incapacity. For estates with significant real financial assets, establishing a trust can facilitate property transfers to heirs.
Simplified probate
Florida offers a simplified probate process for smaller estates with a value below $75,000. Executors can also pursue summary administration to streamline the probate process. If the estate did not contain real estate, consider using the disposition process to distribute financial property.
Furthermore, Florida allows many assets to transfer easily without going through probate. Jointly owned real estate property can automatically pass to the surviving co-owner. Moreover, people can designate certain properties, including homes and vehicles, to transfer ownership upon death. In addition, financial accounts that are payable on death do not need to go through probate.
Estate planning can help you and your loved ones save time and money by avoiding probate. Additionally, the state of Florida provides exemptions and simplified options that can facilitate the probate process.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=590692022-10-11T14:56:07Z2022-10-11T14:56:07Z1. Wills follow the probate process and are wide-ranging
Probate courts in Florida exist to supervise a will's administration. Everything becomes part of the public record, which ensures accountability, transparency and clarity about your final wishes. With a will, you specify guardianship of your minor children, outline your funeral plans and appoint a personal representative to take care of your affairs. It costs time and resources, but it eliminates any secrecy or guessing about what you want.
2. Trusts avoid probate proceedings and relate to property
Use a trust to distribute your property to beneficiaries that you identify, and specify a trustee who will take care of your affairs. In the event that you become incapacitated (even before your death), the trustee will take over.
An advantage of using a trust is that it does not become a part of the public record. Sometimes wealthier individuals prefer the privacy of this option. A disadvantage is that since the documents remain sealed only for the trustee, beneficiaries do not have easy access to read what the deceased intended.
According to the Florida Bar Association, the trustee must
communicate with the trust's beneficiaries in a reasonable time frame
provide copies of the trust instrument
give an annual accounting of assets and liabilities
Many people set up both a will and a trust, to make sure that they leave nothing to chance. Explore the intricate facets of the process and decide what makes sense for you.]]>On Behalf of Stephen H. Artman, P.A.https://www.artmanlawoffice.com/?p=590662022-08-14T02:59:33Z2022-08-14T02:59:33Z legal, protective relationship for your loved ones to help them stay safe and happy. Florida residents can apply for guardianship through the family court system.
The guardian's responsibilities
The guardian's duties depend on whether they are a guardian of the person, property, or both. A person responsible for both categories is a plenary guardian. The person being taken care of is a ward.
Guardians of the person
Guardians of the person must provide for the ward’s medical, mental, personal, and social care. The guardian must file a written plan with the court and update it annually. This includes:
Where the ward will live
Who will provide medical care
What sort of social interactions they will have
Guardians of the property
Guardians of the property must manage and protect the ward’s assets. The initial guardianship report will include an inventory and a management plan and requires an annual update. The annual accounting must include a full record of all transactions involving the ward’s assets.
If you have concerns that a loved one may not be able to take care of themselves or their affairs, obtaining legal guardianship may give you the ability to provide the help that they need.]]>