Financial Planning

Financial Planning: Joint Accounts Mean Joint Pain Barry E. Haimo, Esq. May 7, 2015 In the right circumstances, a joint bank account can be a useful tool for transferring money and avoiding probate. But while setting up a joint bank account with a family member, loved one, or...

The Overlap between Estate Planning and Financial Planning By: Barry E. Haimo, Esq. November 3, 2014 Estate planning aims to ensure your affairs are in order during life and after death. It focuses on five things: i) appoint fiduciaries to stand in your shoes when necessary; ii)...

Inherited IRAs Lose Important Ground   By: Barry E. Haimo, Esq. June 25, 2014 Click here to read this post for a basic introduction to IRAs. As you know, one of the benefits of IRAs is that they are protected from creditors. This is particularly true in Florida, under Section 222.11, Florida...

The Basics: IRAs 101   By: Barry E. Haimo, Esq. June 18, 2014 Background:   An Individual retirement account ("IRA") is a financial vehicle with many benefits to the person who created it as well as his or her family. Some of the benefits include: Tax deferral *Asset protection from creditors Probate...

5 Reasons Why Life Insurance Should Be in Your Estate Plan   By: Barry E. Haimo, Esq. October 10, 2013 Assets can be tangible property, such as cash, cars, stocks and bonds, computers, stamp collections, jewelry and your 60 inch flat screen television. They can also be intangible, such as...