Florida

Your Single-Member LLC: Not A Mighty Fortress

The tar balls are hitting Florida’s beaches, but the state’s courts aren’t yet clogged with oil spill litigation.  With some time on its hands, the Florida Supreme Court is still able to issue advisory opinions, including its June 24 decision in Olmstead v. Federal Trade Commission, 2010 WL 2518106 (Fla. 2010).  Olmstead may not be as important [...]

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A Hurricane May Hit This House in the Keys, But Creditors Won’t…

KYEstates often dicusses asset protection developments, and we’re pleased to share a really fascinating Florida decision, Miller v. Kresser, — So.3d —, 2010 WL1779899 (Fla. 4th DCA 2010). Juan Antunez broke the news that this is surely a season of May flowers for asset protection planning. There won’t often be victories for pure judicial formalism [...]

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Creditor Protection Denied for Florida Debtor’s Inherited IRA

KYEstates has been following issues of creditor protection for inherited IRAs closely (see here and here), and we haven’t hidden the fact that on this issue, we’re biased in favor of the debtor. Before today, our series was tied at Debtor 1, Creditor 1. With today’s report, the score regrettably changes to Debtor 1, Creditor [...]

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Choice of Residency – Kentucky Home or Sunshine State?

Readers, thank you for your patience. A tax season full of 1065s, 1041s, and 709s reduced posting frequency at KYEstates during the last two weeks. But we have been hard at work on something really good, something we hope will be quite useful. We’re proud to present our KYEstates Florida v. Kentucky residency planning chart. [...]

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Who Will Read The 706 You File?

In any litigation matter, key questions include: “What’s discoverable?  What’s privileged?  What will the bad guys be able to find out?”  These same questions present in probate litigation and estate planning for potentially contested administrations.  If a client and the client’s advisors are planning for a contested administration, one option is to shift assets from [...]

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Proposed Florida Legislation Responds to Estate Tax Repeal

Since late December, when it first appeared that estate tax repeal would actually happen, estate planners nationwide have been discussing its potential negative consequences.  Consider this fact pattern: a second marriage, and a normal A-B estate plan.  The plan uses a formula allocation clause directing the greatest amount of assets that can pass free of estate [...]

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