Burandt, Adamski, Feichthaler & Sanchez, PLLC Cape Coral's First Law Firm | Fort Myers Estate Planning & Family Law Firm2024-03-18T19:06:49Zhttps://www.capecoralattorney.com/feed/atom/WordPressOn Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481692024-03-12T19:07:36Z2024-03-18T19:06:49ZThe impact on parents
One of the primary ways in which unpaid child support can affect mental health is through the stress and anxiety it creates for the custodial parent. When a parent is not receiving the financial support they deserve, it can lead to feelings of frustration, helplessness and worry about how they will provide for their children. This constant stress can take a toll on their mental well-being, leading to anxiety, depression and even physical health issues.
According to the Florida Department of Revenue, non-custodial parents who fail to pay child support can face time behind bars and a warrant for their arrest if they do not show up in court.
The impact on kids
Children may internalize negative feelings and develop low self-esteem or emotional issues as a result of feeling abandoned or neglected by the non-paying parent. Children could experience shame or guilt for being a burden on their custodial parent or for the actions of the non-paying parent. The financial strain caused by unpaid child support can also lead to a range of mental health issues for both the custodial parent and the child.
It is vital for parents to fulfill their financial obligations to ensure the well-being of their children and preserve their mental health. Addressing unpaid child support can help alleviate the mental burden and create a more stable and supportive environment for all parties involved.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481682024-02-27T18:45:50Z2024-03-04T18:45:42ZCorporation
When you form a corporation, you create a legal entity separate from the business owners (known as shareholders). Corporations provide limited liability, protecting the personal assets of shareholders from business debts and liabilities.
A corporate structure also gives you the ability to sell shares in the company to raise capital. On the downside, the IRS taxes corporations at the business level and taxes shareholders on dividends they receive from the business. Other structures avoid this double taxation.
Partnership
In a partnership, two or more individuals manage and operate a business by agreed-upon terms and objectives. You can create a partnership easily, but this structure does not provide liability protection. However, it does prevent the double taxation experienced by corporate shareholders.
Limited liability company
Commonly called an LLC, a limited liability company combines elements of a partnership and a corporation. It provides limited liability protection for its members while allowing flexible management and taxation.
Individual owners (known as members) pay LLC taxes on their tax returns, a strategy called pass-through taxation. They bypass the double taxation that affects corporations. Florida has more than half a million LLCs, making it by far the state's most common business structure.
S corporation
You can set up an S corporation if you prefer the corporate structure but want to benefit from pass-through taxation. S corps also limit your liability. However, you will have to follow specific ownership and operational rules, such as limits on the type and number of shareholders.
Each structure has its advantages and disadvantages. When making your decision, align your choice with your business goals and operational needs.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481662024-02-16T16:43:32Z2024-02-19T16:42:39Z1. Structural integrity
Inspecting the structural integrity of a home is paramount. Look for signs of cracks in the foundation, walls or ceilings, as these could indicate underlying structural issues. Additionally, be wary of sloping floors or doors that do not close properly, as these may suggest foundational problems.
2. Water damage
Water damage can lead to costly repairs and health hazards. Check for signs of water stains on ceilings, walls or floors, as well as musty odors, which could indicate hidden mold or mildew. Pay close attention to areas prone to water exposure, such as basements, bathrooms and around windows and doors.
3. Pest infestation
Pests such as termites, rodents and insects can cause significant damage to a home. Look for evidence of pest infestation, such as droppings, gnaw marks or hollow-sounding wood. Inspect both the interior and exterior of the property, including attics, crawl spaces and around the foundation.
4. Faulty electrical wiring
Outdated or faulty electrical wiring can pose fire hazards and require expensive repairs. Look for signs of outdated electrical systems, such as flickering lights, frequent circuit breaker trips, or outlets that do not work. It is essential to have a qualified electrician inspect the home's electrical system thoroughly.
By being vigilant and conducting careful inspections, you can identify and address potential problems before committing to a home purchase.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481652024-01-29T20:29:30Z2024-02-05T20:29:21ZGather documentation
Collect all relevant documents, including school records, medical records and any communication between you and the other parent regarding the child's upbringing. These documents can provide evidence of your involvement in your child's care.
Create a parenting plan
Craft a detailed parenting plan outlining your proposed custody arrangement, including visitation schedules, transportation arrangements and how you plan to handle decision-making responsibilities. Presenting an effective plan demonstrates your commitment to your child's well-being.
Maintain a positive environment
Ensure your home environment reflects a safe and nurturing space for your child. Keep the focus on their best interests by fostering a positive atmosphere and avoiding negative interactions with the other parent.
Demonstrate stability
Highlight your stability as a parent by showcasing your employment status, housing situation and financial stability. Providing evidence of a secure and consistent environment for your child can strengthen your case during the hearing.
Stay informed
Understand the laws and regulations governing child custody in your jurisdiction. Being informed about your rights and responsibilities can help you make informed decisions and advocate effectively for your child's best interests.
Seek support
Consider seeking support from friends, family or a counselor to help you cope with the emotional stress of the custody hearing. Having a strong support system can provide you with the encouragement and guidance you need during this challenging time.
By following these tips, you can advocate for your child and increase your chances of a favorable outcome.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481642024-01-18T17:07:24Z2024-01-22T17:07:16ZIntestate succession
In the absence of a will, Florida's laws dictate the distribution of assets through intestate succession. Spouses, children, parents and other relatives may be eligible to receive to a share of the deceased's estate. Familial relationships determine the hierarchy of inheritance.
Disputes may arise over who inherits what, leading to strained relationships. The lack of clear guidance often fuels disagreements among family members, causing emotional distress during an already challenging time.
Spousal rights
In Florida, if a spouse survives the deceased and there are no descendants, the spouse gets to the entire estate. If there are descendants, the spouse may inherit half, with the remaining portion distributed among the children.
Descendants' claims
If there are surviving children but no spouse, the children divide the estate. In cases where both spouses and descendants exist, they share the estate, with the surviving spouse potentially receiving a larger portion.
No spouse or descendants
In situations where there are no surviving spouses or descendants, the estate passes to the deceased's parents. If parents are also deceased, the estate continues to ascend the familial hierarchy, reaching siblings and their descendants.
Unclaimed property
In the absence of eligible heirs, the estate may revert to the state, meaning the government becomes the rightful owner of the deceased's assets. Florida's Department of Financial Services oversees the process of identifying and managing unclaimed property.
Guardianship for minor children
When minor children have no surviving parents, the court appoints a guardian. This individual assumes responsibility for the children's well-being, including financial matters, until they reach the age of majority.
Make your wishes known
While intestate succession provides a framework, it may not align with individual preferences. A will provides clarity, minimizes family disputes and allows you to designate guardians for minor children. Documenting your wishes ensures a smoother transition and peace of mind for your loved ones.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481622024-01-17T19:17:31Z2024-01-17T19:17:31ZEstablish a living trust
Did you know that only 33% of people in the U.S. have any kind of estate plan, reducing the impact of probate on their loved ones? Creating a living trust can allow your estate to bypass probate. This legal arrangement allows you to transfer your assets into the trust while you are alive. Upon your death, the assets get distributed to your beneficiaries.
Joint ownership of property
You should also consider joint ownership of property with the right of survivorship. When one owner passes away, the property automatically transfers to the surviving owner. Consider this strategy for real estate and other significant assets.
Designate beneficiaries
Designate beneficiaries for your retirement accounts, such as IRAs and 401(k)s, as well as your bank accounts and insurance policies. Regularly review and update these designations to reflect any changes in your life, such as marriage, divorce or the birth of children.
Utilize payable-on-death accounts
You can also set up Payable-on-Death designations for your bank and investment accounts. PODs allow these assets to transfer directly to the named beneficiaries upon your death.
Gift your assets
Reduce the size of your estate by gifting assets to your beneficiaries during your lifetime. Learn about of gift tax rules and limitations. Strategic gifting can help minimize the probate estate.
Small estate affidavit
Some jurisdictions offer a simplified probate process for smaller estates. Investigate whether your state allows for a small estate affidavit, which can expedite the distribution of assets without the need for a full probate proceeding.
Estate planning creates a smoother transition for your loved ones in the future.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481612024-01-04T18:23:05Z2024-01-08T18:22:58ZThe creation of a testamentary trust
A testamentary trust only goes into effect after you die. As the trust creator, you designate a trustee to manage the assets. The trustee follows your instructions in the will for how and when to distribute the trust assets to beneficiaries.
For example, you may want to set aside money for your minor children but not give them full control until they turn 18 or finish college. You would name a family member or trusted friend as trustee and instruct them to only distribute money to the children for education until a certain age. After the trustee meets your conditions, the assets go to beneficiaries and the testamentary trust terminates.
Benefits of a testamentary trust
A major advantage of this kind of trust is that it gives you control over asset distribution. You decide when and how beneficiaries receive their inheritance. This prevents beneficiaries from squandering assets if they are too immature to handle coming into an inheritance. Also, by putting off the creation of the trust until after your death, you can alter your plans for the trust as you see fit.
In addition, you may arrange that proceeds from your life insurance policy pay directly into the trust. According to 2023 data from LIMRA, 52% of Americans have life insurance, so this can be an especially useful estate tool for many people.
Possible drawbacks of a testamentary trust
A disadvantage of the trust going into effect after you die is that it makes it harder for the trustee to clarify your wishes if any provisions are unclear. Also, the trust is subject to the probate process since it is part of your will, unlike a living trust that avoids probate. Furthermore, running a trust involves court fees you must also consider, especially if the trust lasts for a long time.
A testamentary trust is not for everyone. Still, it offers possible advantages worth exploring if you want to maintain as much control over your property as possible.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481602023-12-22T17:26:08Z2023-12-22T17:26:08ZEffective noncompete agreements
A reasonable contract balances the company's needs with the employees' ability to make a living. More careful agreements are often necessary for remote workers who live in different states. Courts review them to make sure they are not too limiting. Contracts should be clearly written and adhere to state-specific legal requirements.
Noncompete agreements should protect legitimate business interests without being restrictive. They should respect the rights of employees to pursue new opportunities. Overall, noncompete covenants serve their purpose without hindering employee mobility.
Federal Trade Commission regulations
The Federal Trade Commission recently expressed concern over the use of noncompete agreements. They report that over 20% of Americans cannot seek better jobs due to these contracts. The FTC is reviewing a proposal to prohibit such agreements. Business owners must stay informed about evolving federal regulations.
While Florida has not restricted the use of noncompete agreements, several states have. California, Colorado, Minnesota, North Dakota and Oklahoma have banned the use of them. Massachusetts has restricted them in several industries.
Well-written noncompete covenants can support your business model. However, be sure to design contracts that meet state and federal regulations.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481592023-12-13T19:52:33Z2023-12-13T19:52:33Z1. Practice mindful communication
Effective communication is the cornerstone of successful co-parenting. Keep conversations focused on your children's well-being, their routines and any changes to their schedule. Maintain a respectful tone and avoid discussing personal grievances or past conflicts. Open lines of communication can help prevent misunderstandings and ensure that both parents remain actively involved in their children's lives.
2. Focus on building stability
Consistency is important for children, especially during the tumultuous period of divorce. Strive to create a consistent routine for your kids, with clear expectations for both households. Shared routines, such as bedtime and homework schedules, provide stability and help children adjust to the new normal. Consistency between households also fosters a sense of security, making the transition between homes smoother for your children.
3. Be flexible
While consistency is important, you should also be flexible. Life is unpredictable, and unforeseen circumstances may arise. Maintain an open-minded approach and be willing to adapt your co-parenting plan when necessary. This flexibility can help ease tension and create a more cooperative co-parenting relationship.
4. Respect boundaries
Respecting each other's boundaries is important for co-parenting success. Establish clear guidelines for visitation, responsibilities and decision-making. Respect these boundaries and avoid overstepping, as doing so can lead to conflict and negatively impact your children. By setting and respecting boundaries, you create a more harmonious co-parenting environment.
5. Focus on the positive
Amidst the challenges of divorce, it is important to focus on the positive aspects of co-parenting. Celebrate your children's achievements, attend school events together and maintain a united front during important moments in their lives. Emphasizing the positive aspects of your co-parenting relationship fosters a supportive environment for your children and helps them thrive despite the challenges they may face.
Co-parenting during a messy divorce requires commitment, communication and a focus on the well-being of your children. By implementing these tips, you can navigate this challenging period with grace, providing your children with the stability and support they need to flourish in their new family dynamic.]]>On Behalf of Burandt, Adamski, Feichthaler & Sanchez, PLLChttps://www.capecoralattorney.com/?p=481572023-11-22T02:03:42Z2023-11-23T02:02:22ZUnequal distribution of assets
One common reason for contesting a will is the perceived unfair distribution of assets. In families with multiple heirs, tension may arise when one party feels shortchanged in comparison to others. A poll done in 2019 found that 1 in 4 Americans struggle with estrangement from at least one family member.
This feeling is often rooted in longstanding rivalries or past familial conflicts that show up during the probate process. The upset party may assert that other people misrepresented the deceased's intentions or that undue influence harmed the division of the estate.
Lack of testamentary capacity
Another method of contestation revolves around the deceased's mental state at the time of drafting the will. If people believe that the individual was not of sound mind or lacked testamentary capacity, heirs may challenge the validity of the document.
This could involve demonstrating that the testator was suffering from a mental illness, dementia or other cognitive issues that could have hurt their decision-making abilities.
Discovery of a later will
In some cases, people may contest a will when they discover a more recent version. If a later will surfaces, it could nullify previous versions, sparking debates over which document accurately reflects the deceased's final wishes. This scenario often unfolds when multiple wills exist, each with different instructions.
Contesting a will during probate is a complicated process that could seem overwhelming or frustrating at first glance. These challenges serve as a testament to the nature of human relationships and the web of motivations that can drive individuals to question the validity of a document.]]>