Probate

[caption id="attachment_5240" align="alignleft" width="300"] Prince estate blunder.[/caption]             By: Barry E. Haimo, Esq. June 22, 2016 Prince's Estate Planning Blunder, a Symbol of What NOT to Do - Part 2   Summary In the first post, we discussed that Prince allegedly died owning approximately $300 million dollars in assets consisting of real...

[caption id="attachment_5240" align="alignleft" width="300"] Prince estate blunder.[/caption]             By: Barry E. Haimo, Esq. May 12, 2016 Prince's Estate Planning Blunder, a Symbol of What NOT to Do - Part 1 Prince’s untimely death surprised everyone. It was terribly tragic and sad. In the weeks immediately following his death, his sister...

By: Barry E. Haimo, Esq. January 22, 2016 What's Estate Administration or Probate?   When a person passes away, his or her affairs have to be wound up and settled. There are three basic components of Estate Administration, or Probate, which we refer to the ABCs: Assets, Beneficiaries and...

By: Barry E. Haimo, Esq. January 5, 2016 3 Dangers of Probate When considering estate planning, you’ll hear a lot of talk about “avoiding probate.” But what is probate, and why is it something people want to avoid? Probate refers to the legal process through which a deceased person’s...

New Guardianship Laws Could Provide Alternatives to Probate Barry E. Haimo, Esq. June 4, 2015 Very few would call Florida’s guardianship program “perfect.” In fact, many—including the Miami New Times— would go as far as to call it “much-maligned” and in desperate need of an overhaul. Under Florida guardianship laws,...

Do Life Insurance and Retirement Benefits Need to Go Through My Estate?   By: Barry E. Haimo, Esq. May 19, 2015 [VIDEO TRANSCRIPT] BARRY HAIMO:  Generally, if structured properly, life insurance and qualified retirement accounts will not go through your estate, because they will go to the proper beneficiary. [END...

By: Barry E. Haimo, Esq. May 19, 2015 How Does Property Transfer After Death? [BEGIN TRANSCRIPTION] HAIMO: At your point of death, your property will be pooled together and called your probate estate. Through the probate proceedings, your property will be devised to the appropriate beneficiary or beneficiaries. This...

By: Barry E. Haimo, Esq. May 19, 2015 How Long Does the Probate or Administration of an Estate Take? [BEGIN TRANSCRIPTION] HAIMO: The amount of time that a probate or administration of an estate can take depends on the size and complexity of the estate.  Some estates can be...

By: Barry E. Haimo, Esq. May 19, 2015 Do I Have to Pay a Debt to a Deceased Person? [BEGIN TRANSCRIPTION] HAIMO: When a person dies, anyone who owes them money will be referred to as a creditor of the estate. So yes, you will still owe not them...

Am I Responsible for My Deceased Parent or Spouse’s Bills? By: Barry E. Haimo, Esq. May 19, 2015 [BEGIN TRANSCRIPT] HAIMO: Generally speaking, you are not responsible for the debts of another person unless you actively agree to be responsible for those debts. [END TRANSCRIPT] The weeks and months that follow death...