Practice Areas

Business Law

Sarasota Business Litigation and Business Law Attorneys

Cole & Cole Law, P.A. is a Sarasota law firm that represents businesses and business owners in disputes and in the everyday legal work of running a company. Our attorneys bring nearly 70 years of combined experience in commercial litigation, bankruptcy and creditors’ rights to companies in Sarasota, Bradenton, Venice and throughout Southwest Florida.

Business litigation

Most of our business work is litigation. We try cases, and we handle them in Florida state court, in federal court, and in bankruptcy court, along with the appeals that follow. Matters we regularly handle include:

• Breach of contract claims and defense
• Partnership, shareholder and LLC member disputes, including dissolution, deadlock, buyouts and derivative claims
• Business torts, including fraud in the inducement, tortious interference, civil theft, conversion and misappropriation of trade secrets
• Non-compete and restrictive covenant litigation, including injunction proceedings
• Commercial collections, guaranty enforcement and post-judgment execution and discovery
• Commercial lease and landlord-tenant disputes, evictions and ejectments
• Replevin, foreclosure of security interests and secured-party remedies
• Construction, vendor and supplier disputes
• Receiverships and assignments for the benefit of creditors
• Creditor and debtor representation in Chapter 7 and Chapter 11 bankruptcy cases and adversary proceedings, including preference and fraudulent transfer claims
• Appeals in Florida’s district courts of appeal and in the federal courts

Business transactions and counseling

Litigation is expensive, and the cheapest case is the one that never gets filed. We also handle the transactional side of business law with an eye toward the disputes we see in court:

• Choice of entity and formation of Florida corporations, limited liability companies and partnerships
• Operating agreements, shareholder agreements, bylaws and buy-sell agreements
• Contract drafting, review and negotiation, including vendor, supplier, service and employment agreements
• Asset and stock purchase agreements and business sales
• Promissory notes, guaranties, security agreements and UCC filings
• Commercial leases
• Independent contractor and confidentiality agreements
• Business succession planning, coordinated with the owners’ estate plans
• Workouts, forbearance agreements and out-of-court restructuring

Why businesses hire this firm

Richard J. Cole, III is Board Certified in Consumer Bankruptcy Law by the American Board of Certification, and both of our attorneys are Martindale-Hubbell® AV Preeminent peer review rated. That insolvency background matters in ordinary business disputes for a practical reason: it tells us early whether the party on the other side can actually pay, what happens to our client’s claim if that party files bankruptcy, and how to structure a settlement that survives one. We evaluate collectability at the outset rather than after a judgment.

Frequently asked questions about Florida business disputes

What is the statute of limitations on a breach of contract claim in Florida?

An action on a written contract generally must be brought within five years, and an action on an oral contract generally within four years. Other claims, such as fraud, follow different periods. Because the date a claim accrues is often disputed, get advice before assuming a deadline has passed.

Are non-compete agreements enforceable in Florida?

Yes, within limits. Florida law permits reasonable restrictive covenants that protect a legitimate business interest, and the agreement must be in writing and signed. Courts examine the duration, the geographic scope and the interest being protected, and they can modify an overbroad restriction rather than void it outright.

Can I sue a business partner who is taking money from the company?

Often, yes. Depending on the entity and the facts, the claims may include breach of fiduciary duty, breach of the operating or shareholder agreement, conversion, civil theft and an accounting, and a derivative action may be required. Emergency relief such as an injunction or the appointment of a receiver is sometimes available.

Is it worth suing if the other side may be judgment proof?

That is exactly the question to answer before filing. We assess assets, exemptions, liens and insurance coverage first, and we will tell you candidly when a lawsuit is unlikely to produce a recovery.

Do you handle cases outside Sarasota County?

Yes. We appear in Manatee, Charlotte and DeSoto Counties, in the Middle, Southern and Northern Districts of Florida, and in the Eleventh Circuit Court of Appeals.

Talk to a Sarasota business litigation attorney

If your company is in a dispute, has been served with a lawsuit, needs to collect on a judgment or a guaranty, or needs its agreements put in order, call Cole & Cole Law, P.A. in Sarasota at (941) 365-4055.

The information on this page is general in nature, is not legal advice, and does not create an attorney-client relationship. Results depend on the specific facts of each matter.

Estate Planning & Probate

Sarasota Probate Litigation, Probate and Estate Planning Attorneys

Probate litigation

Richard J. Cole, III is an experienced probate and trust litigator. He represents beneficiaries, heirs, personal representatives, trustees and creditors in contested estate and trust matters in Sarasota, Manatee, Charlotte and DeSoto Counties, and he has handled related appeals in Florida’s appellate courts and in federal court. When a family dispute over a will, a trust or an inheritance turns adversarial, it becomes trial work, and it should be handled by a lawyer who tries cases.

Contested matters we handle include:

• Will contests based on undue influence, lack of testamentary capacity, fraud or improper execution
• Trust disputes, including actions to construe, reform, modify or set aside a trust
• Breach of fiduciary duty claims against personal representatives, trustees, agents under a power of attorney and guardians
• Petitions to remove or surcharge a personal representative or trustee
• Objections to accountings, fees and distributions
• Actions to recover estate or trust assets transferred before or after death
• Disputes over beneficiary designations on life insurance, annuities and retirement accounts
• Homestead and elective share disputes, including spousal rights claims
• Creditor claims and objections in probate
• Guardianship and capacity disputes
• Probate and trust matters that intersect with bankruptcy, insolvency and creditors’ rights

Probate administration in Florida

Probate is the court process for identifying a deceased person’s assets, paying valid debts, expenses and taxes, and distributing what remains to the people entitled to receive it. In Florida the case is filed in the circuit court for the county where the decedent resided.

Formal administration

Formal administration is the standard Florida probate proceeding. The court appoints a personal representative, letters of administration are issued, notice is published and served on known creditors, and the estate is administered under court supervision until it is closed. Florida’s probate rules generally require the personal representative to be represented by an attorney.

Summary administration

Summary administration is a shorter proceeding available in Florida when the value of the estate subject to probate does not exceed $75,000, or when the decedent has been dead for more than two years. No personal representative is appointed; the court enters an order distributing the assets directly.

Ancillary administration

Ancillary administration is used when someone who lived in another state or country dies owning real property or other assets located in Florida. This comes up often in Sarasota and Manatee Counties, where a great many owners are seasonal residents.

Creditor claims and probate deadlines

Probate runs on strict deadlines. A creditor generally must file its claim within three months after the first publication of the notice to creditors, or within thirty days after being served with the notice, whichever is later. Objections to the validity of a will and to the qualification of a personal representative are also subject to short deadlines that begin running when the notice of administration is served. Missing one of these deadlines can end an otherwise strong claim, so getting advice early matters more here than in almost any other area of practice.

Estate planning

A sound estate plan does two things: it makes your wishes enforceable, and it reduces the chance that your family ends up in the kind of litigation described above. We prepare and review:

• Wills
• Revocable living trusts
• Durable powers of attorney
• Designations of health care surrogate and living wills
• Preneed guardian designations
• Beneficiary and pay-on-death designations, coordinated with the rest of the plan
• Homestead and Florida residency considerations
• Planning for blended families, closely held businesses and out-of-state property
• Exemption and asset protection planning informed by the firm’s bankruptcy and creditors’ rights practice

Because our practice also includes bankruptcy, insolvency and commercial litigation, we review an estate plan the way a creditor or an opposing litigant would, and we draft with that in mind.

Frequently asked questions about Florida probate

How long does probate take in Florida?

A straightforward formal administration commonly takes several months to about a year. Summary administration can be considerably faster. A contested estate takes longer, depending on the issues raised and the court’s calendar.

Do I need a lawyer to open a probate in Florida?

In most formal administrations, yes. Florida’s probate rules generally require the personal representative to be represented by an attorney unless the personal representative is the sole interested person in the estate.

Can a will be challenged after it is admitted to probate?

Yes, but only within a short window after the notice of administration is served, and only on recognized grounds such as undue influence, lack of testamentary capacity, fraud or improper execution. If you are considering a challenge, act immediately.

What is undue influence?

Undue influence is over-persuasion, coercion or improper pressure that overcomes the free will of the person signing a will or trust. Florida courts consider factors such as whether the beneficiary was present at the signing, selected or procured the witnesses, knew the contents of the document, or had a confidential relationship with the decedent combined with active procurement of the gift.

Does a revocable living trust avoid probate?

A properly funded revocable trust can avoid probate as to the assets titled in it. Trusts are frequently left unfunded, which defeats their purpose, so the titling of assets matters as much as the document itself.

What happens if someone dies without a will in Florida?

Florida’s intestacy statutes decide who inherits, and the outcome may not match what the decedent would have wanted, particularly in blended families. A surviving spouse’s share depends on whether there are descendants and whether those descendants are also the spouse’s.

Talk to a Sarasota probate and estate planning attorney

Whether you need a will, need to open an estate, are serving as a personal representative or trustee, or are facing a contested probate or trust dispute, call Cole & Cole Law, P.A. in Sarasota at (941) 365-4055.

The information on this page is general in nature, is not legal advice, and does not create an attorney-client relationship. Results depend on the specific facts of each matter.

Family Law

Sarasota and Bradenton Divorce Lawyers

The decision to seek a dissolution of marriage can be a difficult and complex decision for a married couple to make. There is little doubt that the trauma of divorce can shake the foundations upon which a life has been based, and can deeply impact the emotional wellbeing of both parties as well as children of the marriage. There are many issues that arise in divorce including, among others:

• The division of assets and debts
• Division of tax liabilities
• Disposition of real and personal property
• Child custody and support
• Spousal support (Alimony)
• Ongoing professional and business operations and ownership
• Tax liability issues
• Parental Responsibility
• Pre-Marital Agreements (“Pre-Nups”)
• Paternity Matters

As dissolution of marriage is difficult and emotional, these decisions need to be made in a calm and rational fashion. An individual should receive considered advice in determining how to proceed when a divorce is inevitable from a source that can be relied upon to work to protect your interests. At Cole & Cole Law, P.A., our attorneys are available to assist you with these difficult legal matters. The decision to divorce, how to divide the various assets and handle the responsibilities arising from that decision need to be reviewed and arrived at with an objective viewpoint, and hopefully brought to a successful conclusion through negotiation of a marital settlement agreement, rather than discord and litigation. You need an attorney who is capable in trial to provide help in protecting your rights, if an agreement cannot be reached.

We are available to assist you in deciding what is best for you in dissolving a marriage as well as to assist in trying to work to an agreement with your spouse concerning these matters. We will advise you on the decisions needed concerning any alimony to be paid, child support and custody, division of marital assets and the handling of the myriad problems that arise during this most stressful period of a life. In order to cross these troubled waters it is always best to have a competent attorney to represent you and to assist you in making these life altering decisions.

At Cole & Cole Law, P.A. we are here to assist you in mediating a settlement agreement, if possible, or representing your interests through litigation, if necessary. As you consider divorce, we suggest that you have a consultation with one of our attorneys to address the many issues that may arise and determine what, if any, steps you need to take to protect yourself prior to a final decision being made. We can also help with premarital agreements to divide your assets fairly at the time of dissolution which can be quite beneficial to professionals, seniors and to others so that their assets and their estate plans are not ruined by divorce.

Call our Sarasota, FL, offices today at 941.365.4055 or contact us online to speak with a Sarasota and Bradenton divorce attorney serving the west coast of Florida for over forty (40) years. Our office hours are Monday through Friday, 8:30 a.m. to 5:00 p.m. An online communication does not create an attorney-client relationship.

Remember nothing reviewed on our website creates an attorney-client relationship, and the information provided online is not related to your actual situation. The only way to know what your rights are is to speak with a lawyer directly to discuss the facts of your situation after an attorney-client relationship has been established.

Foreclosure Defense

Sarasota and Bradenton Foreclosure Defense Attorneys

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.The assistance described on this page with mortgage foreclosure, credit defaults and unmanageable debt may involve bankruptcy relief under Title 11 of the United States Code.

Foreclosure activity in Southwest Florida is climbing again. Rising property insurance premiums, higher property taxes, adjustable-rate resets, storm damage and job loss have put many Sarasota and Manatee County homeowners behind on their mortgages for the first time in more than a decade. You worked hard and saved to purchase your home. When unexpected circumstances put it at risk, the foreclosure attorneys at Cole & Cole Law, P.A., located in Sarasota, combine nearly 70 years of experience with practical strategies to defend your right to keep it.

How foreclosure works in Florida

Florida is a judicial foreclosure state. Your lender cannot take your home without filing a lawsuit and obtaining a judgment from a circuit court judge. You are served with a summons and complaint, and you generally have 20 days to file a written response. If you do nothing, the lender can obtain a default judgment and the property is sold at a public auction. If you do respond, the case proceeds like any other civil lawsuit: you can raise defenses, demand documents, and require the lender to prove that it actually owns your loan and that its numbers are right.

The most important thing to understand is that inaction is what causes homeowners to lose their homes. Nearly every option described below requires that you still be in the process.

Foreclosure defense strategies

Our firm explores every avenue for protecting your home and your finances, including requiring strict proof from the lender, loan modification, forbearance, reinstatement, short sale, deed in lieu of foreclosure, and bankruptcy. If you have a property in foreclosure or heading toward foreclosure in Sarasota or Bradenton, Florida, our attorneys can help you.

Requiring the lender to prove its case

A foreclosing party must prove that it holds the promissory note and has the right to enforce it, that it complied with the notice and cure provisions of your mortgage, and that its accounting of what you owe is accurate. Mortgage loans are bought, sold and securitized repeatedly, and the paperwork does not always follow. We examine the chain of assignments, the endorsements on the note, the pre-suit default letter and the full payment history in every case.

Loan modification

If your loan balance is greater than the value of your home, or you can no longer afford your monthly payment under your current mortgage, you may be eligible for a loan modification as an alternative to foreclosure. This is a complicated, document-intensive process, and lenders routinely misplace or reject submissions. An experienced foreclosure attorney can help you work through the paperwork, assist in obtaining an appraisal, and negotiate with the bank or mortgage company. Information you will generally need to assemble includes:

• Current income for everyone in the household
• Monthly expenses
• Recent changes in income
• Hardships you have suffered
• Unforeseen circumstances that caused the default

During the negotiation process our attorneys can prepare sample re-amortizations of your loan, seek to adjust or fix the interest rate, and ask the lender for other concessions in order to arrive at a monthly mortgage payment that you can afford.

Loan forbearance

Forbearance gives you a temporary reprieve from making payments on your loan while your lender agrees not to foreclose during the forbearance period. It does not erase what you owe, but it can give you a much-needed break if you have fallen behind because of a short-term setback such as a hurricane, a medical event or a gap in employment.

Reinstatement and payoff

Most Florida mortgages allow you to stop a foreclosure by bringing the loan current before the sale occurs. We can demand a written reinstatement figure, audit it for improper fees and charges, and negotiate the payoff amount.

Short sale and deed in lieu of foreclosure

If keeping the property is not realistic, a short sale or a deed in lieu of foreclosure can resolve the case on negotiated terms and, importantly, can include a written release of the lender’s right to pursue you personally for any shortfall. We insist that any such agreement address deficiency liability directly and in writing.

Using bankruptcy to save a home

Chapter 13 bankruptcy stops a foreclosure sale immediately and allows a homeowner to cure mortgage arrears over a three-to-five-year plan while making the regular monthly payment going forward. In appropriate cases it can also remove a wholly unsecured second mortgage. Richard J. Cole, III is Board Certified in Consumer Bankruptcy Law by the American Board of Certification, so foreclosure defense and bankruptcy strategy are evaluated together rather than in isolation.

Deficiency judgments in Florida

A lender that forecloses may also seek a deficiency judgment for the difference between the amount you owed and the amount the property brought at the foreclosure sale. Under Florida law, a claim for a deficiency following the foreclosure of a residential mortgage must generally be brought within one year of the certificate of title. Deficiency exposure is the most frequently overlooked risk in a foreclosure, and it is one of the main reasons to have counsel involved even after you have decided to let the property go.

Areas we serve

Cole & Cole Law, P.A. is located in Sarasota, Florida and represents homeowners, landlords and property owners throughout Sarasota County, Manatee County, Charlotte County and DeSoto County, including Sarasota, Bradenton, Venice, North Port, Osprey, Nokomis, Englewood, Palmetto, Lakewood Ranch and Siesta Key.

Frequently asked questions about Florida foreclosure

How long does a foreclosure take in Florida?

It varies. A contested residential foreclosure in Sarasota or Manatee County commonly takes many months and can take well over a year. An uncontested case in which the homeowner never files a response can conclude far more quickly.

Can I stay in my home during a foreclosure?

Yes. You remain the owner of the property and may live in it until the foreclosure sale occurs and a certificate of title is issued, and in most cases for a period after that.

Is it too late to fight if I have already been served?

No. Being served with a foreclosure complaint is the beginning of the case, not the end of it. Contact us as soon as possible, because the deadline to file a response is short.

What if I already missed the deadline to respond?

Contact us anyway. Depending on the circumstances, there may be grounds to set aside a default or a default judgment.

Will a foreclosure or a short sale hurt my credit?

Both affect credit, generally for several years, and the specifics depend on your overall credit profile. We can explain how each option is likely to be reported and how it compares to the alternatives in your situation.

Talk to a Sarasota foreclosure defense lawyer

If your property is in foreclosure, is heading toward foreclosure, or you have received a notice of default, call Cole & Cole Law, P.A. at (941) 365-4055. Please bring your loan documents, the lawsuit papers if you have been served, and any correspondence you have received from the lender or its attorneys.

The information on this page is general in nature, is not legal advice, and does not create an attorney-client relationship. Results depend on the specific facts of each matter.