Law Offices of James W. Mallonee, P.A.
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Category Archives: Trusts

Trustee Resignation

By Law Offices of James W. Mallonee, P.A. |

Trustees who are appointed by a testamentary document are generally considered to remain as the trustee through the life of the trust’s beneficiary. But suppose the person who is the beneficiary of a trust instrument is 10 years of age and in good health. This means that the trust may continue (and the trustee… Read More »

New Trust Code Adds Protectors, Directors and Advisors

By Law Offices of James W. Mallonee, P.A. |

Florida’s Trust Code has added new provisions by adding new statutory sections in an effort to prevent many trusts from moving out of state. It is called the Florida Uniform Directed Trust Act. The Act is found in Chapter 736, Part XIV of the Florida’s statutes. Some of the major changes are Definitions, Defaults,… Read More »

Don’t Cut Corners When It Comes to Real Property

By Law Offices of James W. Mallonee, P.A. |

I’ve recently had two situations arise that cause me to author this article for the purpose of informing you what not to do when it comes to making real estate titling decisions. The situation is as follows: Prior to getting married, two individuals (I’ll call them Mom and Dad) purchased a property. The property… Read More »

Can Beneficiaries Change the Intent of a Trust?

By Law Offices of James W. Mallonee, P.A. |

I’ve frequently been asked if a trust that becomes irrevocable be changed. The short answer is yes, but that will depend on the intent the Grantor placed into the language of their trust. The biggest example of when this arises is who is chosen as the Trustee. The beneficiaries may not like the ways… Read More »

Right to Trust Information

By Law Offices of James W. Mallonee, P.A. |

Clients often come to the office and ask about having a trust drawn up for them. My reply is generally why do you think you need a trust? The prominent answer is to avoid probate, but in reality, the responsive explanation is you won’t. There is another thought that should be taken into consideration… Read More »

Should I Deed My Homestead to My Trust

By Law Offices of James W. Mallonee, P.A. |

Should I deed my homestead to my trust frequently comes up as a question along with whether a person should have a trust prepared for them. In this article we’re going to focus on whether it is better to title your homestead property into your trust should you presently have one or are planning… Read More »

Trusts and Beneficiary Powers

By Law Offices of James W. Mallonee, P.A. |

I often get asked by a Grantor of a trust how secure is the information and assets that are titled in the name of their trust from his or her named beneficiaries. The response most often given is that it depends on the current status of the trust. There are two statuses of a… Read More »

Land Trusts

By Law Offices of James W. Mallonee, P.A. |

Land trusts are traditionally used when dealing with real property that is owned by multiple owners who hold such property as tenants in common. The root problem of holding property as tenants in common comes from the fact that a co-tenant can sue the other co-tenant for partition causing the land to be forcibly… Read More »

Is a Trust Right for Me?

By Law Offices of James W. Mallonee, P.A. |

For the most part, a trust, whether operable during life or after death is generally used to give its creator the ability to control the flow of a person’s property to beneficiaries following death while attempting to minimize if not avoid estate taxes. In today’s world, it might not make sense to have a… Read More »

Will and Trust Bequests, Bankruptcy and Judgment Creditors

By Law Offices of James W. Mallonee, P.A. |

The need to protect your current assets as well as future assets (e.g. inheritance) is becoming more critical than ever. This article discusses those situations where a family patriarch who is financially stable has children who are under financial distress, insolvent or in bankruptcy and lose their parents’ bequests because the parent’s testamentary document… Read More »

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