A partition is a legal process that lets a co-owner of property force a
division of that property when the owners can’t agree on what to do with
it.
Effective January 1, 2025, substantial revisions to the Florida Realtors/Florida Bar (FR/Bar) Residential Contract for Sale and Purchase are in effect. The revisions aim to improve clarity, bring the contract into compliance with recent legislative changes, and ensure fairness in real estate transactions.
If you own property in Florida and are exploring creative ways to transfer ownership while carrying an existing mortgage, you may encounter a potential roadblock: the due-on-sale clause. This clause, found in most mortgage agreements, gives your lender the right to demand full repayment of the loan if the property is sold or transferred without their consent. Understanding how this clause works and how it applies to specific scenarios is crucial to avoid financial pitfalls.
As Florida ushered in the new year, several laws took effect on January 1, 2025, impacting various aspects of daily life. Here are a few of the legistative changes to be aware of in the Sunshine State:
When it comes to securing your assets and ensuring your wishes are honored after your passing, understanding the differences between wills and trusts is essential. Both estate planning tools serve the critical purpose of directing how your property is distributed, but they function in distinct ways and offer varying benefits. It is helpful to look into the key features, advantages, and potential drawbacks of each, to determine which option may be best suited for your individual circumstances and goals. Whether you're looking to minimize probate complications, protect assets, or provide for loved ones, a thorough understanding of wills and trusts will empower you to make informed decisions about your estate planning strategy.
An LLC (Limited Liability Company) operating in Florida without an operating agreement may encounter several issues that could potentially disrupt the business's operations and create legal and financial challenges. Some of the issues that can arise for an LLC without an operating agreement in Florida include:
Are you ready to make the most out of your summer in Orlando? Look no further! We've compiled a comprehensive list of 101 thrilling activities that will keep you entertained all season long. From theme parks to outdoor adventures, cultural experiences to water parks, there's something for everyone. Get ready to create lasting memories with friends and family as you embark on an incredible summer journey in Orlando.
Revocable trusts, also known as living trusts, are a popular estate planning tool in Florida. A revocable trust is a legal document that allows individuals, referred to as grantors or settlors, to transfer their assets into a trust during their lifetime, with the flexibility to modify or revoke the trust at any time. One of the main benefits of a revocable trust is that it allows for the avoidance of probate, which is the court-supervised process of distributing a person's assets after their death. In Florida, where probate can be time-consuming and costly, a revocable trust can be a valuable tool for estate planning.
Use a planner or calendar to keep track of important dates and appointments.Create a to-do list each day to prioritize tasks.Declutter your physical space regularly to reduce stress and increase productivity.Use digital tools such as productivity apps to stay organized.Keep important documents and information in a designated folder or file.Automate repetitive tasks like bill payments or email responses.Break down larger tasks into smaller, more manageable steps.Set achievable goals and track your progress.Delegate tasks to others when possible.Keep a tidy workspace to improve focus and motivation.Use time-blocking to schedule specific activities throughout the day.Create a morning routine to start the day off on the right foot.Take breaks throughout the day to avoid burnout and increase productivity.Use a meal planning system to simplify grocery shopping and meal prep.Set boundaries with your time and learn to say no to commitments that don't align with your priorities.Practice mindfulness and meditation to reduce stress and improve focus.Use a budgeting tool to keep track of expenses and finances.Keep a journal to reflect on your thoughts and emotions.Learn to effectively manage your email inbox and avoid getting overwhelmed.Prioritize self-care activities like exercise, hobbies, and spending time with loved ones.
Estate planning is a crucial process that involves making legal arrangements for the management and distribution of one's assets and affairs upon their death or incapacity. In Florida, some of the most important estate planning documents include:
Yes, Condominium Associations in Florida can lien and then foreclose on units within the condominium. In Florida condo lien foreclosure is governed by the Florida Condominium Act, specifically Chapter 718 of the Florida Statutes (the “Condo Act”). The Condo Act outlines the procedures and requirements for condo associations to enforce their liens against delinquent unit owners and foreclose on their units to collect unpaid assessments and other charges.
For most of Central Florida Spring Break begins next week! If you did not opt to travel this year, don't forget that your own backyard is a top destination spot for Spring Breakers! There is so much to do and see this time of year in the sunshine state. We rounded up some of the best things to do and see around Central Florida if you are planning to stay-cation this year!
We are often asked what a “business” attorney does? At its most basic, a business attorney provides legal advice and guidance to businesses, entrepreneurs, and investors. Business attorneys are knowledgeable about the laws and regulations that affect businesses, and how they apply to the business owners unique (and not so unique) situations. They provide a range of legal services to help businesses thrive. These include contract drafting and review, entity formation and structure, mergers and acquisitions, regulatory compliance, risk management, and dispute resolution. You can find business attorneys, in-house, as part of government agencies or in private practice. The attorneys at Cornerstone Law Firm have experience in a wide variety of business operations. A solid relationship with a business attorney is important for several reasons:Legal Guidance: A good business attorney can provide legal direction and guidance to help ensure your business complies with all applicable laws and regulations. Contract drafting and review: An attorney can help you draft and review contracts and agreements, which can help prevent disputes and protect your business interests. Risk Management: An attorney can help you identify potential legal risks and develop strategies to mitigate them, helping to protect your business from unnecessary and costly lawsuitsPeace of mind: Having a good business attorney can give you peace of mind, knowing that you have an experienced legal professional on your side who can help you achieve your goals and protect your interests.If you need guidance in your business, call Cornerstone Law Firm in Winter Springs, Florida. Our experienced attorneys are here to help you.
Starting a business can seem daunting - endless things to do, so many hats to wear! Branding, Strategies, Structure, Hiring, Marketing – the list can be overwhelming, but DON’T let that stop you, your DREAM is worth it! Streamline your startup process and create a new business checklist. Take that off the tasks you need to tackle and WRITE IT DOWN! A sequential checklist and knowing the order in which to tackle tasks can expedite your success.
A living trust can help you avoid the cost and delay of probate. It can also avoid risks associated withjointly owning assets. A r revocable living trust won’t however protect you from lawsuits.Though a revocable trust won’t protect you from lawsuits - you have the comfort of knowing that you can change or revoke your living trust as often as you can revise your will. Whether you and your spouse should create joint or separate trusts will depend on your creditor exposure and your jurisdiction.There are trade-offs between the different ways to title assets. Without a revocable living trust, the court will distribute your assets under your will. This can be expensive, time- consuming, and cumbersome. (Probate costs can consume as much as 4% of an estate and delay estate distributions). If you bequeath $1 million through your will, your heirs may pay$40,000 in probate costs, and wait years for their inheritances. A living trust circumvents the probate process. Your assets immediately transfer to your beneficiaries.You can take further steps to protect your assets lawsuit by titling them to a limited partnership. Your living trust (which avoids probate) can own your limited partnership. When you die, your ownership in the limited partnership immediately transfers through the living trust to your heirs, and avoids probate. During your lifetime your assets would be creditor-protected by the limited partnership.An experienced attorney can help you implement a customized. CLF is dedicated to providing you with quality legal counsel for all your estate planning needs. To learn more about how we can help you plan for and protect your assets, contact us today to schedule a complimentary consultation.
When you visualize “asset protection” do you think about hiding money in your mattress? Maybe offshore accounts in the Cayman Islands? Or do you simply think it doesn’t apply to you?
What are digital assets?You are probably reading this blog on your phone or tablet, perhaps you clicked the link on Facebook or Linkedin. Technology is a huge part of our lives and so are our digital assets. Social media and email accounts are considered digital assets, as well as creative works, photos and keepsakes kept on home computers, the cloud or external storage drives. Digital assets also include e-commerce accounts and domain names.Have you talked about it with those you love?Although many of us have digital assets, not nearly enough of us are working to protect them. In a recent survey of baby boomers, only 16% of respondents had thought about what would happen to their digital assets after their deaths. A mere 3% had alerted or prepared their loved ones with regard to this issue.What should I do to protect my digital assets?You should plan for the transfer and/or administration of digital assets just as you would for tangible assets. Your digital assets may or may not be of great financial value, but they need protection against exploitation, as well as abandonment. Digital asset protection is essential in ensuring that your personal information is protected throughout and after your lifetime.Most of us have a large digital footprint and it can be difficult to track down all or even the majority of our digital assets. Start now by making a list and locating your digital assets. Speak with an attorney including provisions for your digital assets in your estate plan.At the CLF we provide comprehensive legal assistance to help you protect the property you acquire throughout your lifetime. To learn more about how we can help you in transferring and safeguarding your assets reach out ….