What is a Breach of Contract in Florida?

Breach of Contract in Florida A Breach of Contract in Florida is a common claim in civil litigation. In order to prove this claim, the following elements must be met:

  1. Plaintiff and defendant entered a valid contract;
  2. Defendant committed a material breach of the contract; and
  3. Plaintiff suffered damages caused by defendant’s breach.

Therefore, in order to prove a claim of breach of contract, the Plaintiff must first ask themselves if they entered into a valid contract with the defendant. In order to determine this, it is important to understand what a valid contract is.

A valid contract contains the four elements: (1) Offer; (2) Acceptance; (3) Consideration; (4) Mutual understanding (meeting of the minds)

In general, a contract can be oral or written, but there are certain circumstances in which a contract is unenforceable unless it is in writing. This requirement is known as the “Statute of Frauds.”

Additionally, the contract cannot be for an illegal or impossible act, and contracts with minors are usually not enforceable.

There are many other conditions to a valid contract, which is why it is important to discuss your situation with an attorney who is experienced in both civil litigation and business law.

If you believe you have a breach of contract in Florida, or if you have a contract and you are not sure if it is legally enforceable, then contact Boyer Law Firm, P.L. today to see how we can assist you.

Celebrity Wills: Ugly Probate Process from Poor Planning

Celebrity wills
London, United Kingdom – April 28, 2008 : The Diana Princess Of Wales Memorial Walk in Hyde Park, dedicated in memory to Diana, Princess of Wales.

These celebrity wills show what can happen when you do not have a proper estate plan in place.

Although Michael Jackson had setup a trust before he died, his estate still underwent a very public probate process because his will did not properly transfer his assets to the trust, so they were subject to the probate process, and therefore public record. The general public learned about all of the fighting going on in Jackson’s estate as well as financial information, such as his mother’s monthly grooming expenses of $1,000 and his family’s monthly allowance of $86,000.

Princess Diana left a “letter of wishes” giving her godchildren ¼ of her estate, but the executors of her will convinced the court to disregard the letter without notifying the godchildren. Again, this estate because public record and the actions of Princess Diana’s executors did not reflect the same values that she showed in her lifetime.

And, as mentioned in a previous Celebrity Wills Blog, Former Chief Justice of the US Supreme Court, Warren Burger, cost his children millions of dollars in taxes because his will, which he wrote himself, failed to give his co-executors the power they needed to sell real estate, pay taxes, and otherwise manage the estate.

 

Like these celebrity wills, if you hold assets in Florida, especially if they equate to a large value, then you could be subject to a public, messy probate proceeding if you do not properly document your wishes for your assets. Failure to have a proper estate plan can result in your assets being improperly distributed. In addition, if you do not properly plan for estate taxes, then the majority of your estate could end up being paid in taxes to the IRS.

If you are a foreign individual who owns assets in Florida, then it is important to make sure that your foreign estate plan and your Florida estate plan are consistent with both applicable laws so that there will not be additional work, and therefore additional attorneys’ fees paid from the estate, during the ancillary probate process.

Whether you are a full-time Florida resident or a foreign national who owns assets in Florida, contact Boyer Law Firm, P.L. today to see how we can assist you with your Will and other estate planning needs.

Purchasing a Property from a Foreign Seller? FIRPTA Required!

Don't Get Penalized Red 3D Words Fee Punishment Foul Rule BreakiIf you are purchasing a Florida property, then it is important to know if the seller is a foreign seller. It is also important to remember that all sellers are assumed to be foreign until proven otherwise.

Be careful with the definition of “foreign seller,” as even a single-member Florida LLC may or may not be subject to FIRPTA withholding depending on the tax structure of the entity. An experienced business law attorney should make the determination as to whether or not the seller is subject to a FIRPTA withholding.

If you are purchasing a property from a foreign seller, then a FIRPTA transaction will most likely be involved. There are certain exceptions to the FIRPTA withholding requirement, such as a residency exception and the ability to request a IRS Certificate, but failure to properly adhere to the procedure and timeline could result in large penalties and fines from the IRS.

Although the withholding is taken from the Seller’s funds in order to pay the taxes for the sale of the property, it is the BUYER’s responsibility to ensure the FIRPTA withholding is properly withheld and submitted to the IRS. If this procedure is not done correctly, then the BUYER will be fined and penalized.

Here at Boyer Law Firm, we specialize in conducting closings for foreign buyers and sellers and we have a great deal of experience in conducting real estate closings that include FIRPTA transactions. If you are purchasing a property from a foreign seller, then contact us today!

What Do I Do If My Business Name is Not Available in Florida?

Company LogoIf you conduct business in multiple countries or states inside the United States, then it is important to ensure that your business is properly registered in each of those jurisdictions.

In many cases, the name of your business may be available in one state, but the case may be that your business name is not available in Florida.

If this is the case, then you have the option of registering your business under a different legal name and then applying for a fictitious name, which will allow you to legally market and present your business under the same name you used in the other state. You should hire an attorney to assist you through this process, as there are requirements, such as publishing requirements, that must be met in order to properly register your fictitious name.

If you name is unique and you have a logo for your business, it is a good idea to apply for a trademark or service mark in order to protect the brand of your business.

The same is true for international companies whose business name is not available in Florida.

If you are interested in conducting business in Florida, whether you have an existing business or not, then contact Boyer Law Firm, P.L. today to see how we can assist you.