From time to time, I get emails from people seeking answers to Florida legal questions. While responding to one, I suddenly thought that I should put together a couple of blog posts to highlight a few of the more common questions. Although the situation might be slightly different from individual to individual, I felt these Florida law questions pertained to most people in one way or another.

Florida Chapter 7 Bankruptcy Law Question

I’m a single person and make more than $43,000 yearly gross income. I have been told that I cannot file for Chapter 7 bankruptcy because I make too much money. Is this true?

This depends on your individual expenses. You are slightly over the Florida income level of $40,766 per year for one person to file for Chapter 7 bankruptcy. The good news is that there are certain monthly expenses which may be subtracted from your total income, and these deductions may bring you under the maximum state level in order to qualify for bankruptcy. It’s very important that you have an experienced bankruptcy attorney look over your income and expenses to accurately determine if and how you may file for bankruptcy.

Florida Estate Planning Law Question

In my will, I leave everything to my sister, but my brother is the beneficiary on my two bank CDs. Who would be entitled to the CD money?

Kevin, as you have named your brother as a beneficiary, it must be a “payable on death account.” This is a good vehicle to use to transfer assets and avoid probate. The beneficiary cannot touch the account until the death of the principal. This makes it very different from a joint account. Make sure the CD is not, in fact, held jointly as this would defeat the purpose of having your brother receive the entire balance upon your death. All your brother has to do is present a certificate of death to the bank, and he gets to withdraw the funds regardless of what your will says. Make sure you gave the bank his full legal name and social security number, so the bank will not hesitate in identifying him as the person you designated as the beneficiary.

The first question you must ask yourself is if either your brother or sister had a Power of Attorney for your mother when she was alive. If yes, then you have to ask yourself whether you suspect any fraudulent behavior on behalf of your sister or brother when they had that Power of Attorney. If Yes to both previous questions, you must find out whether there were any beneficiary changes to the life insurance policy when your mother was alive. If all of the above questions were answered in the affirmative, then there is a good chance that further investigation is required to determine if all of the previous affirmative answers are a mere coincidence or if one of your siblings has committed fraud.

With the economy still slumping and many people still without a job, family members are resorting to stealing from themselves to put food on the table. If you suspect that you were entitled to life insurance proceeds and were told you would be by your deceased mother or father but are now being told that your parents removed your name as a beneficiary prior to their death for no apparent reason and never told you they were doing this, there is a good chance there are fraudulent circumstances that need to be investigated by life insurance lawyers.

If you need legal advice, feel free to contact LaBovick Law Group for a free consultation.

The late reclusive heiress, Huguette M. Clark's will is causing quite a stir after recently being filed in New York City's Surrogate's Court. The will essentially cut all of Ms. Clark's relatives out of the loop and left $1 million to her financial advisers, $30 million to her nurse, and the vast majority to charity. The court battle over this enormous estate has only just begun.

Ms. Clark was the daughter of mining tycoon, and former, US Senator, William Andrews Clark. She was the only child of her father's second marriage. Ms. Clark was married once in the 1920's for a brief period and did not have any children. She lived with her mother until she died in 1963.

According to published reports, she had very limited contact with family since 2005. On May 24, she passed away at age 104, having lived in a Manhattan Hospital room for the past two decades under an assumed name. It is very sad when someone with so much passes away in this manner without the comfort of family and friends. Her advisers claim that it was Ms, Clark's wishes to remain reclusive after the 9/11 attacks.

The Manhattan District Attorney's Elder Abuse Unit has a criminal investigation in progress looking into Clark's financial affairs and her advisers, attorney Wallace Bock and accountant, Irving H. Kamsler.

There is also a undertone of elder abuse in this case. Three Clark family members tried to petition the court in New York to assign a guardian to protect Ms. Clark, back in September 2010. The relatives were allegedly blocked from visiting Ms. Clark over the years, asserting that the attorney and accountant were to blame. Unfortunately for the relatives, the judge rejected the petition and ruled against them, citing lack of evidence.

Since the will, has so many glaring issues, it seems likely that it will be contested. The beneficiary of the estate, which happens to be the attorney, is under criminal investigation by the Manhattan District Attorney.

The Huguette Clark story will yield Trusts and Estates case studies for years to come. Questions such as what is the recourse for family members when a wealthy elderly relative changes the will later in life, cuts family ties, and names a questionable administrator of the estate? What are the proper steps to secure guardianship of an elderly or disabled relative? What should they do if they suspect the administrator of the estate is misusing estate funds? and many more.

As a Florida Probate, Trusts and Estates law firm, we will this case and share developments on the Law Planet Blog. We encourage families to openly discuss their estates, trusts, and wills. If they have questions or concerns that need to be addressed regarding Florida Estate laws, they should to seek the counsel of an experienced and qualified Florida Probate, Trusts and Estates Lawyer.