Wednesday, May 2, 2018

David Fall's article on "Get A Trust And You Can Tell Creditors To Go Away."

A trust is still one of the most popular estate planning documents due in large part to its versatility and asset protection characteristics. The creator of a trust (usually referred to as the "settlor" or "grantor") can create a trust during his or her lifetime or create a trust through his or her will. There are various types of trusts, each having its own benefits and liabilities, and a trust can be written to accomplish a wide variety of goals.

In a trust, the grantor relinquishes control of any property contributed to that trust to the trustee of that trust. However, through the terms of the trust, the grantor determines the beneficiaries of the trust and under what conditions the income and principal of the trust can be distributed to the beneficiaries by the trustee.

For more information on the benefits of having a trust, click here to read a recent article on the subject by, David Fall, a member of OLA's Corporate & Tax Estate & Probate Law Practice Group.

Monday, January 22, 2018

Hillsborough County Bar Association - Lawyer Magazine

Hillsborough County Bar Association January/February 2018
Lawyer Magazine Vol. 28, No. 3 Check out the latest edition of Lawyer Magazine featuring TWO articles written by Older Lundy and Alvarez attorneys, Michael Lundy & David Fall.

Click here to view and/or download:

Friday, January 12, 2018

David Fall's article on "Surviving Spouses Can Elect to Receive More Property From Your Estate."

The Florida legislature recently made several important amendments to Florida’s elective share statutes. This article describes some of the key changes and how those changes bring great news to the surviving spouses of deceased Florida residents. In Florida, despite the terms of any will attempting to disinherit him or her, the surviving spouse of a deceased Florida resident is entitled to what’s called an “elective share” of the decedent’s property equal to 30% of the elective estate. The “elective estate” consists of the decedent’s probate estate plus certain property that is omitted from the probate estate, such as the homestead and property jointly owned in a right of survivorship form. This means that the decedent’s surviving spouse can elect to receive a potentially larger portion of the decedent’s property than that left to him or her in the decedent’s will. Moreover, the elective share is in addition to other rights afforded surviving spouses, such as entitlement to homestead protection, creditor exempt property, and the family allowance.

Click here to read the full article.

Monday, November 20, 2017

Older Lundy & Alvarez Welcomes: Carl Mitchell

Older, Lundy & Alvarez Welcomes: Carl Mitchell

Carl Mitchell specializing in Commercial & Construction Litigation.
 For full bio, click here.

Wednesday, October 25, 2017

David Fall's article on tax liability was published in the Florida Bar Journal.

David Fall's article on tax liability was published in the Florida Bar Journal. His article discusses various means to reduce a shareholder’s tax liability when liquidating an S Corporation that owns particular assets. Before you liquidate your S Corporation, contact the tax attorneys at Older, Lundy & Alvarez to discuss your options and keep your hard-earned money.

Click here to read the full article.

Thursday, October 12, 2017

Formal v. Summary Administration

In the world of Probate Law, knowing the difference between Formal Administration and Summary Administration, and which to select given the particular facts of the case, can ease the complexity of managing the estate of the deceased.

The temptation is to select Summary Administration when available because it's generally a shorter process but, depending on the facts, certain aspects of Summary Administration can make the process more complex and more costly. When dealing with the recent death of a loved one, the last thing you want to worry about is a prolonged court case and more expenses.

Click here to learn the prominent differences between Formal Administration and Summary Administration.