A financial lawyer may assist clients with a range of issues that involve their finances. Finance law encompasses a number of legal domains. They may involve business or personal finances and topics such as insurance, savings and investment, banking, debt and debt collection laws, and estate planning.
Finances are not only vitally important to one’s personal life but are also critical in one’s business activities. Concerns such as saving and investing money for retirement or buying and financing real estate can come within the realm of finance law. A legal consultation in Florida with a Florida lawyer would help a person understand the areas in which finance lawyers can be of help to them.
A financial services lawyer is likely to take on cases in a specific area of finance law. So, they may deal exclusively with debt, debt collection, and bankruptcy. A financial services lawyer can review a person’s debts, explain their rights, and give advice as to how to manage debt burden.
Financial services deal with business bankruptcy as well. They give businesses advice as to whether bankruptcy is a necessary step, how best to protect a company’s assets during the bankruptcy process and whether reorganization is possible or if liquidation is the only solution.
If an individual or business has not paid their debts as required by their debt obligation agreements, debt collectors are sure to contact the debtor to collect. Debt collection practices are regulated by federal and state collection laws.
An individual or business who is hounded by debt collectors can get help from an experienced lawyer. Their lawyer can contact debt collectors and inform them of the steps they are entitled to take in collecting and what they are forbidden from doing under the federal Fair Debt Collection Practices Act (FDCPA), as well as Florida state debt collector harassment laws.
A financial services lawyer can also negotiate with creditors on behalf of a debtor and devise a settlement plan for any debts owed.
Or a financial lawyer in Florida may limit their practice to tax law or wills, trusts and estate planning. Most people are interested in making a specific disposition of their wealth when they pass away. They would benefit from consulting a finance lawyer who focuses on estate planning.
One thing this lawyer can do is inform a person of the many options that are available for avoiding taxes and passing on their wealth to charitable entities, family members and friends. Drafting documents that serve one’s purposes, e.g., a valid will, can be technical and complicated.
Certain steps must be followed to disinherit certain family members, if that is what a person wants to do. A financial services lawyer who handles cases in estate planning is able to formulate a complete plan and then to draft the documentation that is needed to put it into effect. They can explain and help an individual create trusts and wills. A financial services lawyer is able to ensure that all of the necessary legal documents are correctly worded, witnessed and valid under Florida law.
Insurance and annuities form another important area. An annuity is a contract that people often want to include in their retirement plan. An annuity is a type of insurance that promises a regular monthly payment for a defined period of years. It is a type of private pension and can be an important part of an individual’s retirement plan.
A financial services lawyer can explain annuity contracts and assist a person in defining what type of annuity would best serve their needs in retirement. Make sure you’re aware of how the contract can affect you and your family. A financial services lawyer would also know how an annuity would affect an individual’s tax situation in retirement.
Of course, if an individual has a dispute with an annuity company or any other type of company that sells financial products and services, they want to consult a financial lawyer. Their lawyer should be able to either negotiate a resolution with the company or advise an investor if they have grounds for a lawsuit and what type of remedy they can expect to recover.
Taxes and tax law can be tough to understand. Depending on your situation, different tax laws will apply. A financial services lawyer can help you file your taxes. They’ll explain which tax laws affect your personal taxes or your business’s taxes. They can give you advice during the entire process of filing your taxes. If you’re audited, they can also help you.
Securities law deals with initial public offerings of company stock and regulations concerning the purchase and sale of securities, such as stocks and bonds. Federal and state laws apply to securities, transactions in securities, and the regulation of securities markets.
Specifically, the federal Securities Act of 1933 and the Securities Exchange Act of 1934 set out important regulations regarding stocks, stock markets, and trading in stocks. Other significant federal laws apply as well. A financial services lawyer can help an individual understand this technical area of law. If a person feels they may have been cheated by a financial services firm in connection with their investments, they want to consult a financial services lawyer in Florida.
