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Miami Business & Commercial Law Blog

Change your will shortly after moving to Florida

Many people dream of moving to Florida after they retire. There are many incentives, including the fact that there is no state income tax and the climate is extremely hospitable. However, before you book your ticket, make sure you understand you will absolutely need to alter your will in Florida no matter where you move from. 

Estate planning is critical for people of a certain age. One confusing aspect of this process is that the law for creating wills and other vital documents changes for one state to the next. If you move, then you need to make sure Florida will uphold your estate planning documents exactly the way you intended.

Successful estate planning for new parents

Parents are constantly looking out for the best interest of their children. For this reason, an estate plan can be very beneficial.

When executed correctly, a plan can help to ensure the proper distribution of an estate. There are a few things that new parents should consider in order to create a successful estate plan.

Deceptive trade practices and the damages they do

Business owners all across Florida depend on their marketing, product, and public image in order for their model to flourish and succeed. So what happens when a business employing deceptive or fraudulent trade practices enters the scene?

Florida state legislation has a ruling on deceptive trade practices that is meant to be somewhat open for interpretation in order to suit as many situations as possible. This ruling determines what an unlawful practice is for any business. On a whole, these practices include:

  • Unfair or deceptive acts in trade or commerce
  • Unconscionable acts
  • Unfair competition methods

Understanding a contractor's liability for damaged property

When Florida homeowners remodel and repair parts of their home, they usually expect that their contractor will do exemplary work. People generally do not expect their home to be damaged by their contractor. Sometimes this happens, though, and in this situation, many people might wonder if the contractor is liable for this damage.

According to Cornell Law School, contractors are typically liable for any damage a property incurs. Additionally, a contractor can also be held responsible for any damage a subcontractor causes. This is because a contractor guarantees that the homeowner will receive high-quality work when he or she hires a subcontractor. Because contractors are sometimes liable for damage, it is important for homeowners to ensure that the company working on their home has all of the necessary insurance. They should also make sure that all subcontractors have insurance or are covered by the primary contractor.

Should I be concerned about intellectual property protection?

If you are a resident of Florida and concerned about whether you need to protect intellectual property, there is a good chance you do. According to the U.S. Patent and Trademark Office, intellectual property refers to any creation or invention that you have thought up and then transferred to a tangible form, which could be used by another to recreate or build upon. There are some situations where protecting intellectual property is imperative and certain people who should most certainly prioritize it.

If you are a "creative" and work in a position where you are writing, designing, drawing or creating other types of work with company resources or while on the clock, it is likely that the employer owns the copyright. If there is any question, you should verify in writing before the creative process begins. Independent contractors do not necessarily have the same restrictions on their creations as employees, so it is important to place protections on the rights to the intellectual property in the initial agreement.

3 tips for naming a life insurance beneficiary

When you purchase a life insurance policy, you must select a beneficiary. This person will get financial compensation from the policy when you pass away. You may feel like this estate planning decision should be easy, but that is not always the case.

Even if you are thinking of someone, there are some important things you should consider before you make a final decision. Here are some guidelines to help you select the right person to designate on your life insurance plan.

What are pros and cons of asset-based lending?

If you are looking to secure business financing in Florida to grow your commercial real estate company, asset-based lending is one possibility to obtain working capital. According to the U.S. Office of Treasury, asset-based lending refers to a credit line that can be offered from a lending or financial institution based on assets owned by the recipient that are pledged as a source of collateral.

The upside to asset-based lending is that the assets used can include an array of items: property, equipment, inventory and other such holdings that can be liquidated into cash to pay off the loan. This can provide the monetary resources necessary to turn around a flailing business as well as help a healthy business keep up with a rapid growth. The money received from asset-based lending programs can, at times, come along with a lower economic hit over time than traditional loans. The money received through this type of financing can also come with more flexibility in the way it is utilized than other lines of credit since the lender can recoup potential losses through the collateral listed.

Detailing Florida's cooling off period

Buyer's remorse is a very real thing, and often is not simply limited to purchases you make over-the-counter. There may be times when you and/or your company contract for services, but then suddenly begin to have second thoughts. Several of the clients that we here at Welbaum Guernsey have worked with in the past have, and they have come to us questioning if there is any way that they can simply cancel those agreements (without facing any legal reprocussions). The answer to this question is yes, but only if you act fast. 

According to information shared by the Florida Attorney General's Office, state law allows you a brief "cooling off" period after having entered into a contract. This affords you the freedom to completely scrutinize your decision from every angle and to be released from it if you so choose. It is important to remember, however, that this period only lasts for three days. If you do choose to cancel the contract, the law does not require that you give written notice of your intention to do so. However, it is recommnded that you put it in writing anyway so you can have it to reference should your decision prompt retaliatory action from your now former partner. 

Can obtaining power of attorney protect your parent from abuse?

Everywhere you look, scams abound. Fortunately, you are knowledgeable about the many different types of scams out there, from false IRS calls to emails from utility companies that look convincingly real. However, what about Floridians who are older and less savvy about technology and modern methods of conning people?

This is not an uncommon occurrence, according to the National Adult Protective Services Association. Even more disturbingly, in 90 percent of cases where a vulnerable senior is financially exploited, it was by someone in a position of trust. Often, a family member, friend or neighbor can gain access to an elder’s bank account, credit cards or cash. How might this happen to your parents? This could occur if a caregiver gained their trust or used emotional or physical intimidation and threats. If your loved ones have cognitive impairments like dementia, it may be easy for a scammer in a caregiver position to coerce them into signing over control of the accounts or granting power of attorney.

Is Bullying in the Workplace Illegal?

Bullying is a hot topic these days, one that is not merely relegated to young people. In fact, many adults have questions about the legality of bullying in the workplace, and it’s important that Florida employers are well-versed in best practices to prevent legal issues from occurring. The Workplace Bullying Institute answers some frequently asked questions regarding ill-treatment at work, which can help employers tailor rules and regulations appropriately.

Is Workplace Bullying Legal in the U.S.?

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