April 1st – This Day in History: BaskinFleece Became One!

Jay Fleece and Hamden Baskin

Attorneys Jay Fleece and Hamden Baskin

April 1, 2004 – Joseph W. “Jay” Fleece, III, and Hamden H. Baskin, III, decided to combine their extensive knowledge and experience to create a unique law firm that was focused mainly on contested estate, trust and guardianship matters. Their philosophy was simple: leverage trial skills with the knowledge of probate and trust law to provide consistent, efficient and effective representation for their clients – resulting in positive outcomes. Congratulations to Jay Fleece, Hamden Baskin and their team for serving the community and its clients since 2004.

In addition to the formation of BaskinFleece, here are other interesting and historical events that happened on April 1st:

Estate expenses: The personal representative’s compensation is usually determined in one of five ways...April 1, 1778 – Creating this icon made sense: New Orleans businessman Oliver Pollock creates the “$” symbol.
April 1, 1789  The US House of Representatives had it’s first full meeting in New York City, and F. Muhlenberg is the first Speaker of the House.
April firstApril 1, 1970  Cigarette advertising was banned and signed into law by President Richard Nixon. Here’s a classic ad featuring Ronald Reagan endorsing Chesterfield cigarettes.
April 1, 1985 – 47th NCAA Men’s Basketball Championship: Villanova beats Georgetown 84-75
April 1, 1970 AMC introduced the Gremlin, one of the first sub compact cars way back in 1970, before many realized gas prices would be a critical factor in future car buying. The car cost $1,879. Car imports were just starting to have an impact on the US market including the Volkswagen Beetle and the new generation of Japanese imports like the Datsun.

You can contact BaskinFleece on, before, or after April 1st at 727.572.4545.

Probate and Trust Administration Challenges

Trust Administration
BaskinFleece handles all aspects of probate and trust administration.
 
Trust administration is that process whereby assets and cash which were funded into a revocable or irrevocable trust during the decedent’s lifetime or “poured into the trust after his or her passing”, are marshaled/gathered and made ready for distribution to the beneficiaries named in the trust. Trust administration also requires the filing of a notice of trust with the probate court and is the process whereby creditors are paid, and after all state and federal tax returns are filed and all creditors and other administrative expenses are paid, the trustee makes a final distribution of the trust assets and cash. The process is similar to Florida probate administration, but there is no circuit judge supervising the administration, nor is a fiduciary bond usually posted, and many times it can be accomplished more efficiently, and thereby cheaper and faster, than a full probate administration.


trusts and ProbateMany of the same contested issues in a probate estate also exist in trust matters.
 
The main difference is that an independent civil action needs to be filed in order to invoke the jurisdiction of the court and have summonses issued to the Defendants. As Florida trust administration is not court supervised, it is up to the beneficiaries, rather than the probate judge, to make sure the trustee is discharging his duties in accordance with the trust terms and with the law. For the most part the only way a beneficiary can review what the trustee has done is through the annual accounting Estate expenses: The personal representative’s compensation is usually determined in one of five ways:which the trustee must provide each qualified beneficiary every year. If the accounting is not provided, the trustee has breached his fiduciary duty to keep beneficiaries informed, which could result in litigation. There are many other fiduciary duties imposed upon a trustee which, if violated, subject the trustee to removal, surcharge or other remedies imposed by the courts. Our lawyers have handled a variety of wills and trust litigation in the courts of Tampa, St. Petersburg, Clearwater and throughout Florida.

BaskinFleece lawyer Jay Fleece

Attorney Jay Fleece

BaskinFleece handles cases from the pre-suit stages, including mediation, all the way through trial, both jury and non-jury, and even at the appellate level, if necessary. The main focus of the firm in dealing with all controversies is the client. Cost, emotional impact and timeliness are all important to the client and the firm strives for an end result which leaves the client feeling that justice was accomplished. For help or answers to estate-related questions, you can contact BaskinFleece at 727.572.4545.

 

This blog is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.

Guardianships and Guardianship Administration

probate trusts advantages of each

 

BaskinFleece handles all aspects of guardianships, including uncontested guardianships and guardianship administration.

Guardianship in general involves the appointment of a Court-supervised guardian, who is sometimes a professional guardian and sometimes a family guardian. A professional guardian must pass a rigorous testing process to become a registered guardian, and all guardians are bonded for 100% of the value of the ward’s liquid assets. A family guardian must pass an eight-hour course. The guardian is a true fiduciary who is delegated the rights over an individual. This delegation may be subsequent to entry of the Order Determining Incapacity and issuance of Letters of Guardianship. A guardianship may be a plenary guardianship, where the court removes all of the enumerated statutory rights of an individual, or a limited guardianship, where only some of the rights are removed.

OldMan-Son12BaskinFleece handles all aspects of contested guardianship litigation in St. Petersburg, Tampa, Clearwater,  Pinellas County and throughout the state of Florida. Contested guardianships are those which involve either the establishment of a guardianship or situations where the alleged incapacitated person may not in fact be incapacitated, or reasonable alternatives to a guardianship exist.

For help with a elder law and guardianship related questions, you can contact BaskinFleece at 727.572.4545.

This blog is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.

 

 

How Is a Personal Representative Compensated?

Randall D. Baskin

Attorney Randall D. Baskin

Pursuant to Florida Statute § 733.617, a personal representative is entitled to a commission payable from the estate assets, without order of the Court, as compensation for ordinary services. The commission shall be based on the compensable value of the estate, which is the inventory value of the probate assets and the income earned by the estate during administration. A commission computed on the compensable value of the estate is presumed to be reasonable compensation for a personal representative in formal administration as follows:

1) At a rate of 3 percent for the first $1 million;

2) At a rate of 2.5 percent for all above $1 million and not exceeding $5 million;

3) At the rate of 2 percent for all above $5 million and not exceeding $10 million;

4) At the rate of 1.5 percent for all above $10 million.

Tampa lawyersIn addition to the previously described commission, a personal representative shall be allowed further compensation as is reasonable for any extraordinary services performed.

For additional information, please contact BaskinFleece at 727.572.4545

This blog is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.

Baskin Fleece Named in U.S. News & World Report’s “Best Law Firms”

U.S. NewsBaskin Fleece was included in the 2017 “Best Law Firms” list by U.S. News & World Report and Best Lawyers©. Baskin Fleece received a tier two distinction for the St. Petersburg metro area in the field of trusts and estates litigation. Those honored in the “Best Law Firms” list are recognized for “professional excellence with persistently impressive ratings from clients and peers.” Selection is based on lawyer and client evaluations, peer review from leading attorneys, and review of additional information provided by law firms. To be eligible, firms must also have a lawyer who is included in the 22nd  edition of The Best Lawyers in America, a list which honors the top four percent of practicing attorneys in the country.

To schedule an appointment with a Baskin Fleece attorney, call (727) 572-4545. For more information about Baskin Fleece, visit www.BaskinFleece.com.

 

 

What is a personal representative’s compensation?

money and compensation

The personal representative, the attorney, and other professionals whose services may be required in administering the probate estate (such as appraisers and accountants), are entitled by law to reasonable compensation.

Estate expenses: The personal representative’s compensation is usually determined in one of these five ways:

personal representative1. As set forth in the will; 

2. As set forth in a contract between the personal representative and the decedent;

3. As agreed among the personal representative and the persons who will bear the impact of the personal representative’s compensation;

4. The amount presumed to be reasonable as calculated under Florida law, if the amount is not objected to by any of the beneficiaries; or 

5. As determined by the judge.

personal representative feeThe fee for the attorney for the personal representative is usually determined in one of three ways: 1. As agreed among the attorney, the personal representative, and the persons who bear the impact of the fee; 2. The amount presumed to be reasonable calculated under Florida law, if the amount is not objected to by any of the beneficiaries; or 3. As determined by the judge.

For help with a will, estate planning and personal representative related questions, you can contact BaskinFleece at 727.572.4545.

Some of the content of this information is courtesy of The Florida Bar and represents general legal advice. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.

Have a Happy and Prosperous New Year!

Happy New Year

The New Year marks a time for reflecting on the past year and contemplating what we learned from the last 365 days to make the coming year even better. Yes, it’s a time to celebrate past success, but it’s also a time for bold moves and fresh starts. It’s a time for dreams and friendships both old and new. It’s an opportune time to raise a toast to those who share your business success and those who cherish your personal happiness and hopes for the future.

The New Year marks a new beginning. New people to meet, new adventures to enjoy, and new memories to create. Here’s wishing you the gift of peace and prosperity throughout 2017, and wishing you a Happy New Year!