If your homeowners’ insurance company requests a Sworn Proof of Loss, commonly referred to as SPOL, after you file a claim, you may not know how to respond because you don’t know what SPOL is.

Submitting a Sworn Proof of Loss, or SPOL, is a fundamental part of the homeowners’ insurance claims process. When you submit a SPOL and what information you provide in this legal document can affect the outcome of your insurance claim.

For this reason, it is important to understand what Sworn Proof of Loss is and contact an Orlando homeowners’ insurance attorney if your insurance carrier requested a SPOL.

What is a Sworn Proof of Loss (SPOL) in Florida?

Basically, a Sworn Proof of Loss is a statement that you are required to make under oath to your homeowners’ insurance company. In the SPOL, the claimant must detail the damages they sustained as a result of a covered loss (e.g., hurricane damage).

A SPOL is an affidavit that you submit to your insurance company. As you can guess, the information you provide in this statement could be used against you to undervalue or deny your homeowners’ insurance claim. For this reason, you should ensure that your SPOL is accurate, complete, submitted promptly, and does not contain any incorrect information.

Insurance companies demand claimants to submit a Sworn Proof of Loss in order to evaluate the extent of damages to the claimant’s property. Also, insurers can use SPOLs to have legal grounds to dispute, devalue, or deny claims.

Your SPOL must be timely, accurate, and complete

Homeowners’ insurance companies set a deadline for claimants to submit a Sworn Proof of Loss. If you fail to submit a SPOL on time, the insurer may deny you coverage because you failed to fulfill your obligation under the insurance policy.

Usually, claimants are required to submit a SPOL within 30 or 60 after their insurance company requests the statement. You should review your insurance policy to find out how much time you have to make the statement under oath.

Since a SPOL is a statement made by you under oath, it is critical to ensure that the statement is accurate and complete. If you provide inaccurate or incorrect information when submitting a Sworn Proof of Loss, your insurer may accuse you of insurance fraud.

Under Section 817.234, Florida Statutes, a person is guilty of insurance fraud when their proof of loss or estimate of claim contains any “false, incomplete, or misleading information” about any material fact relating to the claim.

Contact a homeowners’ insurance attorney

As you can see, your SPOL can affect the outcome of your homeowners’ insurance claim. That is why you must ensure that you submit a SPOL in a timely manner and that the statement is accurate and complete.

It is advised to speak with an experienced homeowners’ insurance attorney to help you prepare a Sworn Proof of Loss. Contact our lawyers at HD Law Firm in Orlando to discuss your situation. Call at 813-964-7878 for a free case review.

What to Do When Your Homeowners’ Insurance Claim is Denied in Florida?

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Homeowners and commercial property owners in Florida know what it’s like to suffer from hurricane damage, tropical storms, and other acts of Mother Nature.

Many of them also know that getting compensated for the damages through their hurricane insurance is a tedious process. Unfortunately, Floridians are no strangers to dealing with uncooperative insurance adjusters or insurance companies that delay, undervalue, or deny hurricane insurance claims.

If this sounds like you, you should seek help from a hurricane insurance attorney in Florida to help you obtain the compensation you deserve to repair your damaged home or business property and replace damaged or destroyed items.

Do not hesitate to speak with a Fort Myers hurricane insurance attorney at HD Law Partners to discuss your options. Every minute counts.

When Your Insurer is Delaying the Hurricane Insurance Claims Process

Often, homeowners and business owners in Florida complain that their insurance company is delaying the claims process by:

• Not getting the hurricane damages assessed;
• Requesting voluminous documentation before processing a claim even after you have submitted all necessary information and documents;
• Delaying the investigation; or
• Not paying any money for repairs covered under the policy.

The insurance claims process can be quite time-consuming as it is, but insurance companies can make it much longer by engaging in delay tactics. This leaves you in a particularly vulnerable position because you need the money to pay for all the damage caused by the hurricane.

The insurer’s intention is to create unnecessary delays and set you up for failure to force you to accept an initial settlement offer that does not cover all of your expenses.

Otherwise, you may end up waiting months to get a payment from your insurance company. If your insurance company is delaying the claims process, it is time to contact a hurricane insurance attorney to find out what’s wrong and get you the payment as soon as possible.

Depending on the reason for the delay, your attorney may be able to get the insurer to pay you the same day you contact an attorney or within days or weeks of employing the assistance of a knowledgeable lawyer.

When the Insurance Company Denies or Undervalues Your Claim

An insurance company may also attempt to deny your legitimate and valid hurricane insurance claim or refuse to cover all of the damages. Insurers use a wide range of bad faith practices and tactics to deny and undervalue claims.

Failure to fight back could leave you without any compensation or with less compensation than you deserve. It is not uncommon for insurance companies to take advantage of the claimant’s lack of legal knowledge to deny a claim, state that the damage is excluded from coverage, or agree to pay as little as possible.

When this happens, it is imperative that you contact a Fort Myers hurricane insurance attorney. An experienced lawyer will fight for your rights, appeal the insurance company’s decision, and ensure that you get every penny to which you are entitled. Contact our Florida hurricane insurance attorneys at HD Law Partners to discuss your unique situation. Call at 813-964-7878 to get a case review.

5 Things to Avoid During the Hurricane Insurance Claims Process in Florida

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If you carry homeowners’ insurance, you probably expect your insurer to pay for any covered damages to your property, including fire, theft, wind, flood, and others. However, you may be surprised to find out that your homeowners’ insurance claim has been denied.

What should you do when your insurance company denies your homeowners’ insurance claim in Florida? Should you dispute the denial yourself or contact a Tampa homeowners’ insurance attorney to appeal the insurer’s decision?

When a Homeowners’ Insurance Claim Denial is Bad Faith

Insurance companies routinely deny homeowners’ insurance claims or attempt to undervalue claims filed by policyholders. If you have been paying your insurance premiums consistently and on time for many years, you probably expect your insurer to fulfill its obligations. However, you need to keep in mind that insurance companies are never on your side.

Often, insurers put their own profits ahead of their policyholders’ best interests. As a result, your homeowners’ insurance claim can be denied or severely undervalued simply because the insurer is trying to increase profits. When an insurance company fails to keep its promises, you may grounds for an insurance bad faith lawsuit.

However, not all claim denials are made in bad faith. Sometimes, insurance claims are denied by mistake.

What to Do When Your Homeowners’ Insurance Claim Was Denied?

Before appealing the insurer’s decision to deny coverage, you need to prepare a winning strategy for disputing the denial. Before contacting your insurance company to ask questions about the denial or file an appeal, you need to:

• Consult with a homeowners’ insurance lawyer; and
• Review your insurance policy and your claim to understand why the insurance company denied it.

When your claim is denied, the insurance company is required to provide you with a notice stating the reasons for the claim denial. If you did not receive the notice, you have a right to contact your insurer and request an explanation. If the insurer refuses or fails to comply with the request, you may be dealing with a potential bad faith insurance practice. If this happened, you might be able to bring a civil action against your insurer under the Florida Statutes Section 624.155.

According to the Homeowner Claims Bill of Rights outlined in the Florida Statutes Section 627.7142, policyholders have the right, within 90 days of submitting a proof-of-loss statement, to receive:

• Full settlement for the claim (if your claim is covered in full);
• Partial payment for the undisputed portions of the claim); or
• Denial of the claim.

Contact a Tampa Homeowners’ Insurance Attorney

If your homeowners’ insurance claim was denied, the first thing you should do is contact a knowledgeable attorney to assist you with appealing the denial. Your lawyer will prepare sufficient documentation and persuading evidence to dispute the denial of coverage.

It is not advised to appeal the insurer’s decision if you do not have new evidence and documentation to support your claim. Contact our lawyers at HD Law Partners if your claim was denied. If you believe that your insurer acts in bad faith, schedule a free consultation with our Tampa insurance bad faith attorney. Call at 813-964-7878 for a case review.

Foreclosure Crisis Looms as Moratorium Set to Expire: What Your Options Are

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The State of Florida is no stranger to hurricanes that leave behind a path of destruction. Catastrophic storm surges and extreme winds and flooding can cause millions or billions of dollars in property damage.

If you are a homeowner who has suffered extensive property damage due to a hurricane, there are things you can do to maximize your settlement when pursuing a hurricane insurance claim.

How to Maximize Your Hurricane Insurance Claim Settlement?

If you suffered the destructive power of a hurricane in Tampa, Orlando, Fort Myers, or other parts of Florida, follow these five tips to maximize your settlement when filing a hurricane claim with your insurance company:

1. Notify your insurer. The first thing you should do is contact your insurance company to inform them of the property damage as a result of a hurricane. Inform them of the damages you have suffered, and do not forget to keep a copy of a written notice. Failure to notify your insurer within a reasonable amount of time could lead to a denial of your hurricane insurance claim.
2. Know what is and isn’t covered under your policy. If you suffered property damage as a result of a hurricane, it is vital to understand what damages are covered under your policy. It is advised to contact an experienced insurance attorney to help you review your policy and determine what damages are recoverable.
3. Document your property damage and collect evidence. The success of your hurricane insurance claim depends on the strength of your case and your evidence. For this reason, you could benefit from hiring a Tampa insurance attorney to help you gather evidence to support your claim.
4. Mitigate property damage. While documenting property damage is important, it is equally important to mitigate your damages. It means that you must take all reasonable steps to prevent any further damages from occurring. Failure to take reasonable steps to mitigate property damages could result in the denial of your claim.
5. Document every communication with your insurer. You can also maximize your settlement by documenting every communication with the insurance company. Keep a diary or notebook to take notes on every interaction and conversation with your insurer.

What to Do if the Insurance Company Acts in Bad Faith?

If you believe that your insurance company acts in bad faith when handling your hurricane insurance claim, do not hesitate to contact an insurance bad faith attorney to fight back and protect your legal rights.

An insurance company may be acting in bad faith if they fail to uphold a duty to a policyholder by attempting to delay, undervalue, or deny a hurricane insurance claim. A hurricane can be a serious event that can jeopardize people’s homes and commercial properties. The last thing you need is an insurance company engaging in unfair business practices, denying your claim, or paying you as little as possible.

Speak with a Tampa insurance bad faith attorney if you believe that your insurer is treating your claim unfairly. Contact our lawyers at HD Law Partners by calling at 813-964-7878 if you live in Tampa or 888-267-5651 if you live in Orlando.

Addressing Homeowners’ Association Residents’ Concerns Surrounding Use of Facilities & HOA Fees

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Many homeowners choose to put signs in their yards to express their political views or opinions on controversial issues. While the U.S. Constitution protects freedom of speech, homeowners who display or place controversial yard signs in their yard may get into disputes with their homeowners’ associations (HOAs).

Who’s Right in Yard Sign Disputes Between Homeowners and HOAs?

The practice of displaying political or other signs outside of your home is not prohibited in many neighborhoods and rural settings. However, when a homeowner lives in an area governed by an HOA, they may have to comply with the association’s rules regarding what homeowners can and cannot place in their yard.

Often, homeowners are restricted from:

• Putting signs, banners, or flags in their yard
• Placing certain decorations outside
• Painting their home
• Having certain pets

Many of the restrictions trigger disputes between homeowners and their HOAs. When this happens, the parties should contact a homeowners’ association attorney to help them resolve their disputes in accordance with applicable state laws and ordinances. Typically, who is right in a yard sign dispute between homeowners and HOAs is determined on a case-by-case basis.

The Legality of Placing Yard Signs

While homeowners are required to abide by the same rules imposed by their HOAs, it is not uncommon for homeowners’ associations to favor or single out certain homeowners or even impose rules that are not in the HOA’s governing documents.

In the past, courts have found that the right to display political or other yard signs in HOAs is not protected under free speech rights. Instead, whether or not a resident is allowed to place yard signs depends on the association’s guidelines as well as laws of the city, county, or town where the homeowner lives.

The question of the legality of placing yard signs depends on the guidelines established by the homeowners’ association and the circumstances of your unique case. Whether or not an HOA has a legal right to enforce a ban on yard signs depends on the state you live in and the association you reside in.

It is advised to contact an Orlando homeowners’ association lawyer to review your particular situation and find ways to resolve your dispute based on the laws and ordinances of your city, county, or town.

How to Resolve a Dispute Between Homeowners and HOAs?

If a homeowner disagrees with their association’s rules on placing yard signs, they must contact an experienced lawyer. The first step in conflict resolution is to try mediation. If no mutually acceptable agreement is reached, a homeowner and HOA may try to resolve their dispute through arbitration. The third option is to file a lawsuit and resolve the dispute in court.

Seek legal counsel from our Orlando homeowners’ association lawyers at HD Law Partners to review your particular situation and help you resolve a dispute over yard signs. Talk to our attorneys about the reasonableness of the implementation or enforcement of restrictions on political or other yard signs. Call at 813-964-7878 to receive a free consultation.

Addressing Homeowners’ Association Residents’ Concerns Surrounding Use of Facilities & HOA Fees

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If you are like most business owners, you will do all it takes to protect your business at all costs. However, under certain circumstances, you may be unable to protect your business from unexpected events such as a natural disaster or pandemic.

Every business owner must consider purchasing business interruption insurance to protect their company from the unexpected extra expenses and loss of income. However, you need to understand what is covered under business interruption insurance before investing in it.

What is Business Interruption Insurance?

Business interruption insurance is a coverage that can help replace the income your business loses in the event of physical damage or covered loss. This type of insurance is very popular among business owners in Florida because the Sunshine State is no stranger to hurricanes that cause devastating damages and financial losses to businesses.

Your business may benefit from having business interruption insurance coverage because you need to be prepared for the unexpected. If you own or operate a business in Florida, having business interruption insurance is almost a necessity because of the hurricane season.

Or, as it was evident during the COVID-19 pandemic, your business may suffer the loss of income due to the government placing restrictions or shutting down the entire state. In other words, you never know what is going to happen the next week or even tomorrow, which is why business interruption insurance comes in handy to give you peace of mind.

However, when purchasing business interruption insurance, it is vital to double-check what is covered and what is not covered.

What Does Business Interruption Insurance Cover?

Depending on the type of your business interruption insurance, the policy may provide coverage for the following losses and expenses:

• The revenue you would have earned, according to past financial records, had your business not been forced to shut down;
• Rent, lease, or mortgage payments for the property or space your business temporarily operates from while the main property or space is being repaired or restored;
• Expenses associated with relocation if you were forced to move to a new location;
• Loan payments;
• Payroll for your employees;
• Taxes;
• Training costs for employees who need to learn how to use new equipment after your property has been damaged; and
• Extra expenses associated with moving to a new location (e.g., the cost of advertising your new location to inform your customers of the new place).

Every business interruption policy is different, which is why it is important to have an experienced business interruption attorney review your policy to determine what is covered and what isn’t covered.

What to Do if Your Business Interruption Claim Was Denied?

Unfortunately, it is not uncommon for insurance companies to deny business interruption claims even when the business is requesting reimbursement for a covered loss. The language used in insurance policies is confusing or ambiguous on purpose to provide the insurer the opportunity to deny claims.

When this happens, do not hesitate to consult with a Tampa business interruption attorney to discuss your particular case and determine your best course of action. Schedule a consultation with our lawyers at HD Law Partners by calling at 813-964-7878.

Developments in Business Interruption Insurance Litigation Claims Brought Throughout Florida & Country

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The board of directors of a Homeowners’ Association (HOA) is elected by the residents of the community. An HOA is a governing body that makes and enforces many rules that impact the entire community. One of the HOA’s duties is to protect the value of its residents’ homes.

But what about denying buyers or renters in the community? Can an HOA decide who can and cannot buy or rent homes in the community? In Florida, HOAs have a legal right to approve or deny potential buyers and tenants if they do not meet specific criteria outlined in the association’s governing documents.

The Association’s Decision Cannot Be Discriminatory

HOA/Condo laws in Florida allow HOAs considerable discretion in approving or denying potential buyers and renters. While associations can apply the screening process to deny buyers and renters, the decision cannot be discriminatory or violate the Fair Housing Act.

According to the Department of Housing and Urban Development, the Act prohibits discrimination in housing based on race, religion, color, sex, age, disability, familial status, and national origin.

Legal Reasons to Deny Potential Buyers or Renters

If a condo or homeowners’ association wants to reject a buyer or tenant, it must fully disclose its screening process in the governing documents. Also, when denying a prospective purchaser or renter, the HOA must have clearly explained its reasons for rejection. Without proper documentation explaining reasons for denial, the rejected buyer or renter is likely to pursue a discrimination lawsuit against the association.

There are four legal reasons associations can deny potential buyers or renters:

1. Violation of a rule outlined in the governing documents;
2. A propensity to violate rules and regulations in the past (e.g., an applicant, who lived in the association as a tenant and now wants to buy a property, is known to have violated the community’s rules);
3. Material misrepresentation on the potential buyer or renter’s applications (e.g., if the association asks about the applicant’s criminal history but the applicants lies, the association has legal grounds to deny the application); and
4. The prospective buyer or renter has been convicted of a felony for violent crimes or crimes involving property, and their civil rights have not been restored.

How Do HOAs and Condos Screen Potential Buyers and Renters?

First and foremost, a condo or homeowners’ association must have governing documents outlining the screening process and defining criteria for denying potential buyers and renters. Without clear guidelines, the rejected buyer or renter is likely to file a discrimination lawsuit against the condo or HOA.

Condo and homeowners’ associations have a right to accept or deny potential owners or tenants. However, rejected buyers and renters may think that the association’s decision is discriminatory and sue the association.

If you are a buyer or tenant whose application has been denied by the HOA and you believe that the association overstepped its rights, do not hesitate to contact our Sarasota homeowners’ association attorneys at HD Law Partners. Schedule a case review to determine whether the association violated any state or federal laws when it rejected your application. Call at 813-964-7878 to schedule a consultation.

Resource:

hud.gov/program_offices/fair_housing_equal_opp/fair_housing_act_overview

Evictions & Foreclosures On Hold for Another Two Months as Moratoriums Extended: What This Means

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If your landlord fails to make necessary repairs or violates housing codes, you may be thinking about stopping to pay rent. But are you legally allowed to do that in Florida without facing an eviction notice?

What Are the Obligations and Duties of Your Landlord?

In Florida, landlords are legally required to comply with housing, building, health codes, laws, and ordinances. The exact duties of your landlord depend on whether you rent an apartment, home, or commercial premises.

If you live in an apartment building, your landlord is required to provide or ensure:

• Plumbing and hot water
• Heat
• A clean and safe environment around the building
• Garbage pickup
• Reasonable security measures, including working and locking doors and windows
• Eliminate rodents and bugs, including bedbugs

If you live in a standalone home, it is important to review your lease agreement. Many landlords delegate many of their duties and obligations to tenants.

What to Do if Your Landlord Fails to Make Repairs?

If your landlord violates housing codes or fails to make necessary repairs or keep the environment clean and free of hazards, you should discuss your options with a competent landlord & tenant attorney in your city.

Under the Florida Statutes Section 83.51, tenants are not allowed to make repairs and then subtract the cost of repairs from their rent payments unless their landlord agrees to do so. Generally, you have two options:

1. If you want to move out, you must provide your landlord with a 7-day notice to give them a chance to fix the issue. If the condition is not fixed or the landlord does not make a reasonable effort to solve the problem, you can move out immediately.
2. If you want to stay, you can stop paying rent – or, in other words, withhold rent payments – until your landlord makes a reasonable effort to fix the issue.

Are Commercial Landlords Required to Make Repairs?

Florida courts have repeatedly held that commercial landlords have an obligation to maintain or perform repairs in the leased premises only when they expressly agreed to do so. Under Florida law, commercial landlords have no legal duty to make repairs or maintain the leased premises.

Also, the fact that a commercial landlord voluntarily performed repairs in the past does not create an obligation to continue making repairs in the leased premises. Thus, landlords must specifically state in the lease agreement what, if any, repairs will be part of their duties.

A provision stating that the tenant has no obligation to perform repairs or replace an item does not create an obligation on the part of the landlord. If an obligation is not specifically stated in the lease, there is no such obligation. You should consult with a Tampa commercial landlord & tenant attorney if you have a dispute with your landlord or tenant about who should be responsible for making repairs in the leased premises.

Contact our lawyers at HD Law Partners to schedule a case review. Call at 813-964-7878 to discuss your legal options during a free phone consultation.

Florida Governor’s Order Clarifies Eviction & Foreclosure Suspension, But Does Not Apply to Commercial Tenants

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Whether divorces are amicable or contentious, divorce settlements that are drafted and finalized too quickly could be missing some crucial issues, especially if a couple shares children. This is especially important if one parent is  the primary residential parent and, as a result, may incur extra costs and could end up being on the hook for thousands of dollars.  As a result, if any of the following applies in your circumstances, ensure that you and your attorney discuss and address these issues in your settlement:

College Costs

Addressing who is going to pay for college is essential if you share a child who is college bound, as Florida does not require parents to split tuition, room, and board, and, as a result, parents cannot be forced to pay for college costs unless it is addressed in the settlement or another contract. As a result, if you are the primary residential parent (or even if you are not), it may be important to you to at least obtain language covering the cost of a four-year in-state school. Also make sure that there is language included which addresses all of the other costs that come along with the college experience, such as books, computers, meals, travel, insurance, and any other expenses that might come up.

College Prep & Applications

There are a number of costs that come up in the final two years leading up to college, such as preparing for and taking tests (tutoring programs, etc.), applying to schools, etc. that you may also want to address in the settlement.

First Refusal Language

You may also want to adjust any first refusal language in the settlement in order to ‘take over’ any custody time with your children if, for example, your ex goes out of town or otherwise cannot meet their obligations at some point during their timesharing.

Investments

Make sure that your potential tax hit for any investment accounts you are awarded have also been addressed, as different investments yield different results (for example, splitting traditional and Roth IRAs). You also want to make sure you know the cost basis for any investment accounts you are getting as well so that you know what you may owe based on the capital gains tax rate and can thus try to minimize or avoid capital gains taxes in general by investing for the long-term.

If You Have Questions About Divorce or Other Family Law Issues in Florida, Contact Our Attorneys Today

If you live in Florida, it is imperative that you work with an experienced divorce attorney who is well-versed in divorce settlements and who is prepared to address any property and time sharing issues unique to your circumstances. At HD Law Partners, we have more than 40 years’ combined experience in representing clients in family court matters, and we are prepared to act as your trusted legal advocate. Contact our Tampa family attorneys today to find out more about our services.

Resource:

seattletimes.com/business/crucial-extra-items-to-cover-in-a-divorce-settlement/

Protecting Yourself Financially Before, During, And After Divorce

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As family law attorneys who practice here in Florida, an increasingly common issue that we deal with when it comes to divorcing spouses is addressing custodial and 529 accounts. Even when a divorce is amicable, problems can still arise with respect to budgeting for a shared child’s college plans.

529 accounts allow people to save and invest for college, while avoiding taxes. The funds, when withdrawn, are also exempt from federal taxation, as long as they are spent on “eligible” education expenses (tuition, books, housing, meal plans, computers, etc.).

Still, if not properly addressed in the separation agreement, some of them are subject to a number of changes that you may be opposed to. While the general rule is that the custodial parent becomes the owner of the 529 account, with more and more courts encouraging equal, shared parental responsibility (unless they find that it is detrimental to the child), the management of the college savings account must be explicitly addressed in the separation agreement; the contract that outlines how everything is divided. In particular, it is  very important for spouses to know that, legally, these funds belong to the child as the beneficiary, and are not available to a spouse to withdraw and use as their own.

Below, we discuss some of the details associated with each type of account that is relevant to college savings during divorce, and how to protect them:

529 Plans

529 plans provide a certain amount of flexibility such that one spouse could try to change the beneficiary of record and withdraw the assets to pay for their own or someone else’s education expenses, or simply revoke the account. This is why it is crucial that the separation agreement specify that the funds are only to be used for your child (i.e. and include specific identifying information for that child).

Coverdell Education Savings Accounts (ESAs)

Note that Coverdell Education Savings Accounts (ESAs) operate in almost the exact same way as 529 plans, however, they must be paid out to the named beneficiary within 30 days of the beneficiary turning 30, which can result in penalties and tax consequences. In addition, they are transferred upon divorce, and the subsequent owner treats the account as though they were the original owner.

Custodial 529 & UGMA/UTMA Accounts

The best way to ensure that an education account is only used for one particular person is a Custodial 529 and/or UGMA/UTMA account, as the beneficiary on these accounts cannot be changed. However, note that the beneficiary can only take ownership of the account once they reach the age of majority (age 18 in Florida).

Other Funds That Might Be Used for College Savings

Other funds affected by divorce (i.e. subject to division) that also need to be addressed in the agreement include:

• Roth & Traditional IRAs (the portion accrued during the marriage)
• Qualifying US Savings Bonds (note that these can be sent back to the Treasury with instructions to split and reissue upon divorce)
• Qualified withdrawals: an attorney is going to need to assist the student if they, for example, need to withdraw funds to help pay for rent associated with living with a parent, or if that parent has to withdraw funds to help pay for costs if the beneficiary becomes disabled, etc.
• Successor owners: you will also need to specify a successor in the event of the beneficiary’s death, as anyone who receives the account via probate can change the beneficiary
• Statements: note that even if you are not a joint account owner, you can be listed as an interested party on the account so that you always receive statements and know what is going on

If You Have Any Worries or Concerns Regarding Your Child’s College Savings in Your Divorce, Contact Our Florida Divorce & Family Law Attorneys Today

Family matters can become potentially volatile when it comes to dealing with property division, especially when there are concerns over the well-being of a child’s future. Contact our experienced Tampa family attorneys at HD Law Partners today to help ensure that you and your loved ones are protected throughout this process.

Resource:

nytimes.com/2020/09/04/your-money/college-savings-529.html

Dealing with The Family Home During Divorce

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