ASSET PROTECTION PLANNING HAS SUFFERED A SIGNIFICANT SETBACK CREATING A MEANINGFUL OPPORTUNITY FOR CREDITORS

By Charles M. Tatelbaum

A recent decision and opinion by Bankruptcy Judge Robert A. Mark of the US Bankruptcy Court for the Southern District of Florida has created a potential nightmare and morass for those who seek to use asset protection vehicles as part of an overall estate plan or independently, and, at the same time, has created a new opportunity for creditors seeking to recover unpaid debts.

Striking Back Against Securities Fraud: Considerations in Choosing Your Legal Causes of Action

After Ponzi schemes gained national attention from the exposure of Bernie Madoff’s decades-long conspiracy, securities fraud has become a term that nearly everyone is familiar with today.  Providing local flavor, Scott Rothstein’s investment fraud again brought the concern to the door-steps of Floridians.  With the Internet providing an ever more critical “tool of the trade,” fraudulent conspiracies such as “pump-and-dump” schemes are a regular danger to Florida investors.  While the fraudsters behind these schemes face criminal repercussions, the federal anti-fraud statutes, and often state equivalent “blue-sky laws,” provide independent civil causes of action available to victims.  The Florida Securities and Investor Protection Act (“FSIPA”) is particularly noteworthy in our state, and understanding the distinctions between the causes of actions afforded under FSIPA and its federal counterparts is essential for victims as well as attorneys practicing in this area.

The Technicalities of Creditor Claim Deadlines in Florida Probate Estates

By Jeffrey Fauer

Creditor claims are a common source of litigation in probate estates.   Whether large or small, almost every probate estate has a creditor that files a claim.  Creditor claims are typically based on the debts of the decedent that arose prior to death, and can range anywhere from a claim by American Express for unpaid credit card bills, to a claim by a former business partner for payment of principal and interest on a multi-million dollar promissory note.

Florida Enacts Fiduciary Access to Digital Assets Act

Florida Enacts Fiduciary Access to Digital Assets Act 

For those that can’t go a day without posting a political jab on Facebook, posting a photo on Instagram, tweeting a Tweet on Twitter (sounds like a line from a Dr. Seuss book), you may have wondered what happens to those accounts when you die.  Well, for Florida residents, we have some clarity.

On March 10, 2016, Governor Scott signed into law Senate Bill No. 494 which creates Chapter 704 of the Florida Statutes entitled the “Florida Fiduciary Access to Digital Assets Act” (the “Act”).  The bill was sponsored by Sen. Hukill. 

The Act is the States’ adaptation of the Revised Uniform Fiduciary Access to Digital Assets Act and aims to provide “fiduciaries” legal authority to manage digital assets on behalf of others and provides “custodians” legal authority to interact with fiduciaries to disclose digital assets in the manner requested by “users”.

This post summarizes some of the main points of the Act.

IS THE UNITED STATES ON THE EDGS OF ANOTHER FINANCIAL DOWNTURN?

By Charles M. Tatelbaum

For those that believe that U.S. stock market indicators are not the true measure of the health of the nation’s economy, a number of recent events have pointed out the fact that while unemployment may have been stabilized, the economy in the U.S. is far from stable and healthy on an overall basis. Those of us that have dealt with the perils and pitfalls of the erratic economy since prior to the 1980 recession where the prime rate of interest rose to over 20% and inflation was rampant recognize that some of the same type of indicators are present today which could foretell severe economic problems for the near future.