TALLAHASSEE (Florida Record) — Orlando attorney Michael Peter Guido faces suspension following an Aug. 23 Florida Supreme Court order over allegations he was generously paid for "no meaningful work" on a trust, according to a recent announcement by The Florida Bar.
"As trustee and attorney for an irrevocable life insurance trust, Guido took no significant action and completed no meaningful legal work," the state bar said in its Aug. 31 announcement of the discipline and the Supreme Court's order. "Over a nine-month period, he wrote checks to himself totaling approximately $39,000 for fees and administrative costs. Guido did not resign as trustee, even after repeated requests by the beneficiaries."
Guido's one-year suspension will be effective 30 days from the date of the court's order to allow him time to close out his practice and protect his existing clients' interests, according to the high court's order.
Florida court orders are not final until time to file a rehearing motion expires. Filing such a motion does not alter the effective date of Guido's suspension
Guido was admitted to the bar in Florida on April 29, 2013, according to his profile at the state bar website. No prior discipline before the state bar is listed on Guido's state bar profile.
Allegations against Guido arose from his position as trustee for an irrevocable life insurance trust, worth more than $1.5 million, which he drafted for his mother-in-law and was funded by her life insurance policy, according to the referee's report filed in the matter.
"In addition to serving as the trustee, [Guido] was entrusted by the family to handle the legal work on behalf of the trust as attorney for the trustee," the referee's report said. "[Guido] took no significant action on behalf of the trust other than writing a few letters and signing some checks. He completed no meaningful legal work on behalf of the trust. [Guido] failed to file the tax returns for the trust and complete an accounting for the trust."
The state bar filed formal charges against Guido in February but Guido did not respond "after being given numerous opportunities to do so," and a default was entered in March finding him guilty of professional conduct rules violations, the referee's report said. Guido also did not appear at the sanctions hearing in April.