Bobby’s Blog

Importance of Having a Durable Power of Attorney

This article deals with the scenario of a loved one who becomes incapacitated and therefore needs someone to execute appropriate planning of their estate. The fact is, in the absence of an estate plan, only a properly drafted General Durable Power of Attorney will afford a level of flexibility necessary to make critical decisions about an incapacitated person’s estate. In this article, I’ll talk about how the Power of Attorney plays an important role in the planning and protection process. What does a Durable Power of Attorney do? Well, this is a legal document that an individual prepares while they...

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Simultaneous Death Provisions: The Law in the “DMV”

In many estate plans, it is quite common for a husband to leave everything to his wife and kids. And, vice versa, a wife routinely decides to leave everything to her husband and kids. But what happens if both the husband and wife die simultaneously? Under the common law, if there was any evidence that one of the deceased individuals survived the other, even by a few seconds, then the estates would be distributed in that order. This led to many bitter inheritance battles in court. So, to address this problem, the Uniform Simultaneous Death Act was passed and applies...

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More Info on Obtaining a Commercial Real Estate License for Asset Protection

Here is the second installment of an article series from Howard Stross, a fellow member of the National Network of Estate Planning Attorneys. Essential Elements of a Commercial Real Estate Lease: Part 2 by Howard Stross of the Stross Law Firm What Does Florida Do That No Other State Does With a Commercial Real Estate Lease? (Hint: It deals with sales tax.) Florida is the only State in the U. S. that imposes sales tax on rent paid by a tenant to its landlord in a commercial real estate lease. And, it’s not just on the base rent. With few exceptions, anything paid...

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