Archive: December 2018

The estimated damage – just to agricultural resources – from Hurricane Michael across Florida and several other states is forecast to go over $1.3 billion, and includes cotton farms, pecan farms, and poultry operations as some of the hardest hit. Hurricanes are especially damaging to cotton crops, leading to an increase in the price of cotton. It is clear that farmers in particular are going to need all the help they can get in order to recover, and most of that help will need to come from crop insurance.

Florida also suffered significant timber losses as well. An estimated three million acres of timber were damaged by the hurricane, along with other commodities. It will likely take years for the industry to recover and replace lost trees.

In anticipation of these losses and those expected to hit homeowners, in mid-October, Gov. Rick Scott ordered emergency changes to insurance rules as they apply Hurricane Michael recovery, specifically. Under these rules, not only do policyholders now have an extra 90 days to submit their claims, but insurance companies are prohibited from canceling or failing to renew homeowners’ policies on homes damaged by Hurricane Michael for 90 days as well. In addition, Florida’s insurance regulator issued an emergency order that freezes any rate hike for 90 days in order to support recovery efforts in areas impacted by the Hurricane.

While new technology is expected to solve a number of our problems–from reducing human error to growing the global economy–it is also expected to have a significant effect on corporate liability, commercial litigation, insurance litigation, and product liability claims. As the industry grows in complex technology, companies and insurers need to make sure that they consult the right attorneys so that they ensure that their claims processing is up-to-date because, as cyber risk liabilities increase, so too does liability for manufacturers, suppliers and providers.

Take, for example, liabilities surrounding cyber security and the increasing digitalization of society: liability and litigation is becoming more and more complex and technical, especially as data protection rules become stricter and carry stiffer penalties in response to governments trying to bolster cyber security and protect privacy. An accident no longer involves just two people, but manufacturers, software providers, and other third parties, all requiring that insurance claims handlers and other experts understand specific algorithms involved in order to determine the cause of accidents.

For many people, divorce is time consuming and emotionally draining, which explains why some are tempted to make some considerable financial mistakes during the process. While this is understandable, we as attorneys practice in divorce and family law frequently have to address some of the financial fallout from this decision-making, which then makes the entire process that much more difficult.

Below, we discuss how to avoid making the most damaging financial mistakes while going through divorce:

First and foremost, do not let yourself go out and buy a big ticket item, like a new car or house. While these items might have been financially feasible before, you may very well find that they significantly interfere with your ability to stay on top of new finances that you are now solely responsible for.

Also be careful about cashing in on investments and 401(k)s to pay the bills. Keep in mind that “cashing out” on these items could lead to substantial tax consequences; even potentially placing you in a higher tax bracket for the entire year, which can affect other payments, such as student loan payments. Also, even if you cash in on 401(k) funds that have already been taxed, you can get hit with a penalty by the IRS for cashing in on those funds before you turn 59 ½.

Many parents these days find it difficult to find that right life-balance when it comes to juggling career, child support, and shared custody after divorce. Recently, CNN ran an interesting piece focusing on some perspectives of fathers, in particular, who feel that the system has let them down. Some of these fathers have spent time in jail because they were unable to pay court-ordered child support; gone bankrupt; or even been altogether barred from seeing their children due to civil protection orders. And not all of them ended up in custody battles due to divorce: some learned all too late that they had fathered children but were excluded from the child’s birth certificate.

According to the statistics, even today, more than 80 percent of custodial parents are mothers. Does this mean that men automatically do not get a fair shake when it comes to custody cases? Laws in states like Florida and elsewhere were supposed to prevent this phenomenon by focusing on what is in the best interests of the child. Still, that doesn’t mean that men do not sometimes get the short end of the stick due to judges’ traditional perspectives. Below, we offer some insight on how fathers can avoid acrimonious outcomes in circumstances like these.