Category: FAQ
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What is Court Ordered Community Treatment under the legislation known as “Kendra’s Law”?
Court Ordered Community Treatment allows for the implementation of an outpatient care plan mandated by the court for individuals who do not comply with treatment and meet specific eligibility requirements.
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Who can file a complaint to the state regulatory board or the state disciplinary board?
Short answer: Any individual. Dissatisfied patients or clients, relatives of patients or clients, insurance companies, dissatisfied current or former employees, competitors, hospitals, and state agencies commonly lodge complaints with the state regulatory board. The board also scrutinizes medical malpractice settlements and news outlets to identify potential professional misconduct.
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What is a Mortgage Contingency Clause?
If you enter into a contract to purchase real property, the contract may be contingent upon your ability to obtain financing. This contingency is based on specific and mutually negotiated terms (i.e., the amount of the mortgage, the interest rate of the mortgage, the term of the mortgage and the amount of time necessary to…
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What is a Certificate of Occupancy?
A Certificate of Occupancy is granted by the Building Department of the city or town where the property is situated. It confirms that the building was constructed according to the architectural plans submitted to the Building Department and demonstrates that inspections were conducted by the Building Department to ensure compliance with the plans. The issuance…
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How large of a building can I construct on the real estate I acquired?
The size and height of a building to be constructed on real estate is determined by the zoning regulations of the city/town where the real estate is situated. The zoning regulations impose different limitations on the height and area of the building. It is advisable to review these limitations prior to purchasing the property.
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What distinguishes a Living Will from a Last Will and Testament?
Why should I create a Last Will and Testament? The primary benefit of creating a Last Will and Testament is that you have the power to determine who will inherit your assets after your death. If you pass away without a Will, the state’s laws will dictate who receives your property. By creating a Will,…
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How much time does a usual foreclosure process require?
Without appropriate legal counsel, a typical foreclosure can span approximately 4-6 months.
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How will a home repossession impact my credit score?
A home repossession will significantly damage your credit score. A Repossession Decree & Sale typically has a negative impact on your credit for a duration of seven (7) years.
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What happens if the house is sold for more than I owe in the foreclosure proceeding?
In the event there is money left over from the sale of your home after the foreclosure and all expenses related to the foreclosure are paid off, the clerk will hold the surplus amount for a specific amount of time. You have 60 days after the sale to file a claim for the surplus.
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What distinguishes a cooperative from a condominium?
In a “condo” arrangement, individuals possess legal ownership over a specific unit within a multi-unit building structure. They additionally hold a stake and the right to utilize shared spaces like hallways, elevators, gardens, swimming pools, and a club house within the same structure. These individuals are required to make monthly payments to an “association” to…
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What is the purpose of “recording” a document?
When you acquire tangible assets, you receive a written document known as “the official document” which transfers the ownership of the assets from the buyer to you as the purchaser. The official document grants you legal rights in exchange usually for a specified sum of money. The transfer of interest in tangible assets is not…
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What tax advantage do I receive from owning real estate?
Mortgage interest deduction: The main benefit of owning real estate comes from the ability to deduct the interest on a home mortgage or a home equity loan. To be eligible for this income tax deduction, the loan must be for your primary residence or a vacation home that is not rented out to others. The…
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What is a quitclaim deed?
A quitclaim deed transfers or “releases” to the individual obtaining the property whatever current interest the grantor has in that property. Unlike a grant deed, a quitclaim deed carries no explicit or implicit promises or assurances. Hence, if the grantor has no interest in the property, a quitclaim deed conveys nothing.
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What is the “Closing”?
The closing is a final meeting of all the parties involved in the real estate transaction. Attorneys for Party A, Party B, and Party C convene with sellers and buyers to sign and officially transfer title to the buyers. A representative of the title insurance company will also be present to facilitate the transfer of…
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What is the significance of estate planning and why is it crucial?
What does the term estate planning mean? Estate Planning is a procedure of preparing for the unexpected in life. Without even realizing it, you have likely engaged in the Estate Planning process most of your adult life ? for example, obtaining a life insurance policy, naming beneficiaries on your retirement plan, or when you are…
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What is the process of estate distribution after someone passes away, and what are the advantages of avoiding this process?
After the demise of an individual, the legal procedure known as probate comes into play to allocate assets and settle debts. The court will assess the assets, pay off any outstanding debts using the estate’s resources, and distribute the remaining assets to the heirs according to the instructions laid out in their Will, provided there…
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How can I legally avoid paying child support in Florida?
First, all child support in Florida must be calculated according the child support guidelines. So to legally avoid paying child support, you need to manipulate the factors used in the calculation in order to produce a child support amount that is as close as possible to zero. In my experience, judges will allow you to…
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What is the role of the Mediator in a Florida Family Law case?
The mediator’s primary function is to inform you about the rules of mediation, which include confidentiality and the mediator’s role in your case. The mediator’s next responsibility is to listen to each party’s desired resolution for the case. This can be conducted with the parties in separate rooms or together. The third duty of the…
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What is a Revocable or Living Trust?
A Revocable Trust can be used to hold legal title to your assets and provide a mechanism to manage them. You (and/or your partner) are the trustee(s) and beneficiaries of your trust during your lifetime. You also designate successor trustees to carry out your instructions as you have provided in case of death or incapacity.…
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What are the benefits of having a Changeable Agreement?
Similar to a Testament, a Changeable Agreement is a legal document that outlines the administration and allocation of your assets after your passing. However, a Changeable Agreement offers distinct advantages compared to a Testament. A Changeable Agreement allows for the immediate transfer of assets after death without involving the court. It also empowers the management…
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What is my taxable estate?
Your taxable estate comprises of the total value of your assets including your residence, additional properties, business interests, your portion of joint accounts, retirement accounts, and life insurance policies ? minus liabilities and deductions such as funeral expenses paid out of the estate, debts owed by you at the time of death, donations to charitable…
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What is the unrestricted marriage deduction?
The federal government permits every married individual to transfer an unrestricted amount of assets either as a gift or inheritance, to his or her partner without incurring any federal gift or estate taxes. Essentially, the unrestricted marriage deduction enables married couples to postpone estate tax payment upon the demise of the first spouse, as upon…
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What is a Credit Shelter or A/B Trust and how does it work?
A Credit Shelter Trust, also referred to as a Bypass or A/B Trust is utilized to reduce or eliminate federal estate taxes and is commonly employed by a married couple with a sizable estate surpassing the federal estate tax exemption amount. For instance, in 2023, each individual is entitled to an exemption of estate tax…
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What is a Trust for Personal Residences (TPR) and how does it function?
Residences are oftentimes most valuable assets and thus a significant portion of a taxable estate. A Trust for Personal Residences, or TPR (pronounced “tee-per”), enables you to transfer ownership of your house or vacation home at a substantial discount, effectively immobilizing its value for estate tax purposes, while still allowing you to reside in it.…