In Florida, any adult resident of this state may serve as guardian. A non-resident may also serve as a guardian if they are a close relative of the ward: e.g., related by lineal consanguinity; a legally adopted child or adoptive parent of the ward; a spouse, sibling, aunt/uncle, niece/nephew, or…
A formal definition of a “close” corporation reads a “corporation [that] does not exceed a statutorily defined number of shareholders and is not a public corporation… The main benefit of a close corporation is that it will be exempt from a number of the formal rules which usually govern corporations.”…
Florida is not a community property state. Florida is, however, a recipient of domestic and foreign migration. Often, those that relocate to Florida come from community property states, or countries with property rights akin to community property states that require due consideration. In addition, even if the married couple that…
The first thing to understand about corporations is that they are separate legal entities, apart from their shareholders, who are the owners. Because of this, corporations have “perpetual existence.” A corporation’s existence goes on after a shareholder, even a majority shareholder, dies or otherwise leaves the company. If your corporation…
An S-Corp is a type of corporation that allows shareholders to enjoy the typical benefits of incorporation along with the benefits of “pass-through” taxation, which means that the corporation itself is not taxed, and shareholders are instead taxed at the personal income level. In other words, the shareholders are not…