Author Archives: Jay Butchko
Florida’s New Assignment of Benefits Law
A new assignment of benefits (AOB) law that came into effect here in Florida in July alters the practice of policyholders assigning third-party claim benefits of an insurance policy and could very well change the insurance litigation landscape in Florida. The Bill’s Provisions Prior to now, the combination of this practice with Florida’s one-way… Read More »
11th Circuit (Florida) Makes Important Ruling on Insurer’s Indemnification
An important insurance litigation decided by the 11th Circuit (Florida) during the second week of March laid the foundation for when insurance companies can determine whether they can indemnify their policyholders. At Issue in the Case The case involved an appeal of a district court decision finding that Mid-Continent Casualty Company (MCC)’s complaint for… Read More »
Florida Lawmakers Moving Hurricane Michael Relief Bills, But It Still Isn’t Enough
Given the devastation caused by hurricane Michael to Florida last October, there is still plenty to be done, especially as a number of property owners are still waiting for their insurance companies to ‘make them whole’ in terms of their losses. In an effort to provide some relief to affected Florida property owners, on… Read More »
New Tax Strategies That Could Make Divorce Negotiations Easier
The divorce process became significantly more complicated this year with the code changes. Not only did a number of Americans end up owing more than expected, but along with these changes also came a slew of unforeseen consequences. For example, the spouse paying alimony can no longer deduct the payment, and the spouse receiving… Read More »
The Importance of Understanding & Addressing Insurance Policies During Divorce
During stressful times as going through divorce proceedings, it is common to let important issues and accounts, such as insurance coverage, fall by the wayside. However, during this time, it is extremely important to take a close look at any and all insurance policies in order to foresee whether your insurance policies may be… Read More »
“What Hurricane Michael Damage Looks Like Today”
Seven months after Hurricane Michael hit Florida, the estimated losses from the Category 5 storm are currently over $50 billion. Property damage alone reportedly accounts for more than $5 billion, and many property owners’ claims have gone unpaid by insurance companies that are supposed to make them whole again in times like these. In… Read More »
If You’re Thinking of Switching from an S to C Corporation for Tax Benefits, You Should Consult an Experienced Business Formation Attorney First
As attorneys who regularly practice in business formation here in Florida, one recent question we have received is whether an S corporation should switch to a C corporation after the passage of the Tax Cuts and Jobs Act, and whether there is a corresponding ability for C corporations to exclude any gain from the… Read More »
Florida Legislator Proposes Legislation Removing Consumers’ Ability to Sue Insurance Companies for Bad Faith in Court
Proposed changes to the law in Florida could ultimately affect the ability for policyholders to hold their insurance companies accountable in terms of delaying or failing to settle claims, including those related to hurricane relief. A bill recently submitted to the legislature would make a number of changes that would cripple the ability for… Read More »
Navigating Social Security Benefits Before, During, And After Divorce
A number of older individuals who have divorced or are contemplating divorce are concerned about the impacts of divorce on their Social Security benefits. This is especially the case for older individuals, who may have, since their divorce, remarried again, and now have questions as to whether they can obtain their divorced spouse’s benefits…. Read More »
Hurricane Michael Debris Causes New Wildfire Devastation to Florida Homes & Properties
A devastating fire broke out in the Florida Panhandle on March 30, and would have been reportedly easy to contain, but, instead, spread and caused a significant amount of devastation to homes and other properties due to debris that was leftover from hurricane Michael. According to the reports, the fire burned close to 700… Read More »
