My stepmother put a no contest indemnity clause in her trust agreement . . . is that legal in Florida: mi now in litigation my stepsister is trying to sue the trustee of the estate . . . . can the " scotched earth " clause be enforced in Florida . . if so what is the statue # under trust law in Florida
Joshua’s answer: Florida law does not recognize no contest clauses in Wills and Trusts. Occasionally, these documents should be contested - specifically if they were established under duress or undue influence.
Property held by 3 siblings: I have a 1/3 interest in some land with my 2 siblings. We hold as tenant in common. May I deed my 1/3 interest into a trust by quitclaim deed?
Joshua’s answer: Yes, you may execute a deed transferring your interest to a trust (or to someone else) without involvement of your siblings.
Will an LL / S - Corp protect my personal assets from a possible lawsuit ? Can someone still sue me personally ?: I am starting an ice cream truck business in Florida . I have significant personal assets and have been advised to create an LL / S - Corp . Will this protect my personal assets or am I still possibly at risk ? I have a prenuptial with my current husband , but my attorney suggested putting my husband on my portfolio to protect it from being subject to paying out on a lawsuit , but I don't like that idea either . Can I put my minor children on my portfolio accounts ? What to do ? ? I want to protect myself as much as possible .
Joshua’s answer:
You have several options to protect personal assets from business liabilities. Using a business entity, such as an LLC or a corporation, is one option. If you are not personally negligent, have signed a personal guaranty and follow the legal formalities required of the business (such as not commingling business assets and personal assets), then liabilities of the business generally will not pass to you personally.
This area of the law requires a complete picture/understanding of a client's personal situation to determine what course of action is most appropriate.