We know that you likely have questions when it comes to family law, bankruptcy, business law and wills and probate, as these can be complex issues. At Mara & Mara, Attorneys at Law, we are here for you, providing you with the answers to all of your questions. Below you will find the answers to some of the common questions we encounter from clients:
If you have further questions after reviewing these FAQs, please don’t hesitate to contact Mara & Mara, Attorneys at Law by calling 386.310.2685 or contacting us online. Our office is conveniently located in Ormond Beach. We serve people across our region, including Daytona Beach, Port Orange, Seville, New Smyrna Beach, Bunnell, Palm Coast, Flagler Beach and Barberville.
The Fair Debt Collection Practices Act (FDCPA) is geared to protect individual consumers from aggressive and unscrupulous collection agencies. It does not, unfortunately, protect commercial debtors. That said, we would advise you to retain a business law attorney to represent your interests. Once you hire an attorney, the creditor can no longer contact you and must conduct all future communications through your attorney. In addition to protecting you and your business from harassing phone calls, your attorney may be able to help you settle the debt with terms that you and your business can afford.
If the other member agrees to the buyout, then the issue becomes how much that member needs to be paid for his or her interest and any other terms of the buyout. You would have to consult your operating agreement, as there may be specific provisions for a buy-out. In addition, you would want to make sure that an attorney drafts the proper documents for the purchase of the other member's interest. If the member does not agree to the buyout, then you will most likely need to file suit, realizing that your operating agreement may call for a dissolution of the LLC when the members are in a stalemate. Finally, if the interest of the other member is bought out, then you would need to file an amendment to the LLC to reflect the new ownership.
Attempting to do so is likely to be unproductive. For example, suppose that you now live in St. Lucie County, but the children live in Brevard County with their mother. If you attempt to file in St. Lucie County, more than likely the mother will file a motion to change venue. The motion would probably be granted because the original action was filed in Brevard County and the children still reside there. It could end up costing you more time, aggravation and money if you file in St. Lucie County rather than just filing from the start in Brevard County.
First of all, it would be better if you were not paying the mortgage any longer. Your settlement agreement should have included language requiring your ex-wife to assume the existing mortgage or refinance the home loan. Assuming such a provision was not included in the original settlement, you may now want to file a petition requesting that the court modify the settlement agreement to require your ex-wife to either assume or modify the mortgage. To get this approved, you would have to show a substantial change in circumstances. The fact that you can't get a mortgage may qualify as a substantial change in circumstances.
Regarding the mortgage interest, if you are not currently paying on the mortgage and the settlement agreement does not allow you to claim the mortgage interest, you would have a difficult time trying to claim it. If your ex-wife is paying the mortgage and can show that she is doing so, she would be able to argue to the IRS that she — not you — is the only one eligible to claim the interest. If you claim the interest anyway, you could end up paying fines and late fees on your taxes.
In the state of Florida, you must hire an estate planning attorney to represent you in a formal probate proceeding. However, if your relative's estate qualifies for disposition of personal property without administration, then you are not required to hire an attorney. You would benefit greatly from having a consultation with an attorney to see what type of probate proceeding applies in your case.