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.

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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.

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Older Lundy & Alvarez Welcomes: Carl Mitchell

Older, Lundy & Alvarez Welcomes: Carl Mitchell

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

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.

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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.

Older Lundy & Alvarez Welcomes: Susan Stromberg

Older, Lundy & Alvarez Welcomes: Susan Stromberg

Susan Stromberg specializing in Family Law.

For full bio, click here.

Older, Lundy & Alvarez Welcomes: Martin Deptula

Older, Lundy & Alvarez Welcomes: Martin Deptula

Martin Deptula specializing in Family Law & Commercial Litigation.

For full bio, click here.