To accept appointment as the trustee of a trust is to undertake a position of great responsibility and significant potential liability. Abuse of these duties can do real harm to beneficiaries as well as violence to the intentions of the trustor who founded the trust in the first place. Trustees should be chosen with care, and their responsibilities should be fully explained to them.
The duties […]
Probating the assets of a deceased property owner can be a tricky and complex process, especially for large estates. It can get even trickier when more than one legal system is involved. This might happen if, for example, a Colorado resident dies owning property in both Colorado and Florida or if a citizen of Canada dies leaving property located in Jacksonville.
Under these circumstances:
Jacksonville divorces are based on Florida divorce law, and it is state law that determines the division of assets incident to a divorce. Most people realize that Florida applies the “equitable distribution” principle to the division of assets whereby marital assets are divided equally unless there is a good reason to favor one spouse. Do marital debts work the same way?
Geographically speaking, Jacksonville, Florida is the largest city in the continental U.S. Size brings with it many advantages – including many places to hide assets. While we won’t suggest that Jacksonville’s size has anything to do with the concealment of marital assets during a divorce, the problem is certainly no less serious in Jacksonville than it is anywhere else.
When […]
Divorce is typically one of the most traumatic events of a person’s lifetime. It is the multidimensional aspect of divorce that hits most people the hardest — there is no area of life that it doesn’t affect. In addition to the breakup of the family, financial issues often loom large, and it might be far from obvious how a court will divide the property from […]