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Category: Blog article

  • Steps to Close an Estate: A Guide for High School Students

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. After winning a money judgment in a court case, individuals may need to take additional steps to actually receive the funds. 3. Non-citizens in the U.S. do not receive the same tax benefits and estate planning considerations…

  • How to Win a Noncompete Case: Move Quickly to Secure Victory

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    – The Tampa federal court denied a preliminary injunction to a transportation management company seeking to enforce non-compete agreements against four former employees due to delay in filing the lawsuit and lack of urgency. – The court emphasized the need for speed and urgency in proving imminent and irreparable harm when seeking a preliminary injunction.…

  • “After a Slip and Fall in Florida: 5 Steps to Take”

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    – Seek medical treatment to properly document injuries. – Report the accident to a manager, owner, or landlord and request a written report. – Document names, addresses, and contact information of potential witnesses. – Take pictures of the accident location and any contributing conditions. – Record details of the accident and store clothing and shoes…

  • “Should You Get a Prenup Before Getting Married in Florida?”

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    – A prenuptial agreement, also known as a premarital agreement, is a contract made between prospective spouses before marriage. – It addresses rights to alimony, division of property and debts, and distribution of property in the event of divorce or death. – Benefits of having a prenuptial agreement include facilitating a quick resolution in the…

  • Florida’s New Telemarketing Laws: What High Schoolers Need to Know

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    – Florida has adopted its own version of the Telephone Consumer Protection Act, known as Florida’s Mini-TCPA, which is similar to the federal TCPA. – The changes to the Florida Do Not Call Act include the removal of existing call exemptions, the addition of a prior written consent requirement for marketing calls using an automated…

  • When Must You Hold Onto Evidence? Understanding Your Responsibilities

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    1. Remark destroyed her old computer after receiving the first deposition notice, but before receiving the last one which required the production of documents. 2. Shamrock filed a two-count complaint against Remark, alleging she intentionally destroyed or negligently destroyed documents in bad faith. 3. Remark testified that she obtained a new computer and destroyed her…

  • When Do You Have to Keep Evidence? Understanding Spoliation of Evidence for High School Students

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    1. Remark destroyed her old computer after receiving a deposition notice, but before receiving the last one which required the production of documents. 2. Shamrock filed a complaint against Remark, alleging she intentionally or negligently destroyed documents in bad faith. 3. Remark did not review the old computer to see if it contained any documents…

  • New Law Allows Companies to Sue For Trademark Infringement Without Proving Intent

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    – The U.S. Supreme Court has settled a long-standing split among federal appeals courts regarding trademark infringement under the Lanham Act. – The Court ruled that a plaintiff alleging trademark infringement no longer needs to demonstrate the defendant acted willfully in order to recover disgorgement of profits. – Justice Gorsuch, writing for the Court, rejected…

  • Understanding Equitable Estoppel and Insurance Coverage in Florida

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    1. Equitable estoppel requires a misrepresentation of a material fact that is relied upon by the party asserting estoppel. 2. The party claiming estoppel must show a detrimental change in position as a result of the reliance on the misrepresentation. 3. Equitable estoppel precludes a party from maintaining inconsistent positions to the detriment of another.…

  • Estate Planning for Bitcoin and Other Digital Assets – Law Firm Offers Guidance

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    – Bitcoin and other cryptocurrencies are becoming more mainstream and are being addressed by corporations, the media, and politicians. – Altcoins, or cryptocurrencies other than Bitcoin, are growing in popularity, leading to an increase in investing in cryptocurrency. – Estate planning lawyers are seeing cryptocurrency more commonly listed in asset lists when working with clients.…

  • Understanding the Tax Implications of Employer-Provided Life Insurance

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    1. If an employer provides group term life insurance coverage higher than $50,000, the excess amount is considered taxable income to the employee. 2. The cost of group term insurance is determined based on an IRS table, which can result in higher taxable income for older employees. 3. The taxable amount is reported on Box…

  • Buying a Vacation Home: How to Save on Taxes

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    1. To postpone gain on the sale of a rental property and purchase a vacation home, the replacement property must meet the “like-kind exchange” rules in the Tax Code. 2. The replacement property must be held for investment or use in the taxpayer’s trade or business at the time of the exchange, and the taxpayer…

  • “When a Real Estate Deal is Official”

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    – The real estate contract becomes binding once the seller accepts the offer made by the buyer. – The contract, also known as a purchase agreement, sets out the rights and duties of both parties and includes expectations of behaviors and actions to be taken by each party. – Once both parties sign the contract,…

  • Changing Child Support Payments in Florida: What You Need to Know

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    1. Improved communication skills help people succeed in their careers. 2. Positive affirmations can improve self-esteem and mental well-being. 3. Regular exercise is linked to better physical and mental health. 4. Reading regularly can improve cognitive function and mental well-being. 5. A healthy diet can help prevent chronic diseases such as diabetes and heart disease.…

  • Florida Passes New Law to Hold Insurance Companies Accountable

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    1. Florida’s HB 837 has changed the bad faith insurance framework. 2. The amendment to Section 624.155, Florida Statutes, provides a safe harbor for insurance companies to correct alleged bad faith by attempting to settle a claim in good faith. 3. The amendment also introduces two new procedural devices for insurance companies to avoid bad…

  • Proposed Changes to Florida’s Alimony Law: What High School Students Need to Know

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    1. The proposed alimony reform in Florida seeks to eliminate permanent alimony and replace it with durational alimony based on the length of the marriage. 2. The amount of durational alimony would be based on the obligee’s reasonable need and would not exceed 35 percent of the difference between the parties’ net incomes. 3. The…

  • Florida’s New Law on LIBOR Reform Explained

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    – Libor was announced to be discontinued in 2021, with publication ceasing for certain maturities after December 31, 2021, and the remaining maturities ceasing after June 30, 2023. – The ARRC identified the SOFR as its preferred alternative rate and published recommended fallback language for new debt issuances in the U.S. – Florida introduced draft…

  • “What to Consider When Switching Your Business from a C Corp to an S Corp”

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    1. Built-in gains tax: S corporations that were once C corporations are taxed on built-in gains (such as appreciated property) recognized within 5 years after the S election, which may be unfavorable. 2. Passive income: S corporations may be subject to a special tax if their passive investment income exceeds 25% of gross receipts and…

  • Understanding the Property Disclosure Statement: What to Watch For

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    – The disclosure statement includes information about the age and condition of the property, as well as its heating and electrical systems. – It also lists details about the utilities, municipal information, and any potential issues related to condos or multi-unit properties. – The statement may also disclose any issues with the structure, such as…

  • Understanding the End of an Irrevocable Trust

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    – Dolly Parton is known for her philanthropy and has important lessons to teach about doing good. – After winning a money judgment in a court case, individuals are entitled to the stated amount but must take further steps to actually receive the funds. – U.S. citizens receive certain tax benefits in estate planning that…

  • New Law Will Change Local Licensing Requirements

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    – A new statute taking effect on July 1, 2021, will phase out nearly all local contractor licenses by 2023 in an effort to reduce government regulation of certain non-structural contractors. – Section 163.211, Florida Statutes, reserves occupational licensing to the state and supersedes any local government licensing requirements, with few exceptions. – Chapter 489,…

  • “Can Your Company Get a Tax Break for Dividends? | Financial Experts Explain”

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    – The dividends-received deduction is available to C corporations when they receive dividends. – The deduction is typically 50% of the dividend, reducing the amount of the dividend subject to tax. – If a corporation owns 20% or more of the payor’s stock, the deductible percentage of the dividend increases to 65%. – Dividends from…

  • Understanding Securities Law: A Guide for High School Students

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    – 52-week High/Low: The highest and lowest prices paid for a security in the last 52 weeks. – Accredited Investor: An individual or entity meeting certain financial criteria allowing them to invest in certain securities. – Acquisition: When a company buys some or all of another company’s ownership. – Affiliate: A person or entity that…

  • Florida Law Violated by Construction Liens from Popular Lien Processing Service

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    1. The construction lien was found to have irregularities and failed to meet the basic requirements of Florida’s Construction Lien Law. 2. The signatory of the lien claimed to be the agent of the lienor, but the Court saw through the charade and pointed out that the purported agent could not spell the lienor’s name…