Protect Life Insurance Payouts from Creditors with Trusts - Part 1 By: Barry E. Haimo, Esq. July 21, 2015 Life insurance can be a valuable financial asset and effective estate planning tool. As a general rule, the proceeds of a life insurance policy are paid to a designated...

By: Barry E. Haimo, Esq. February 4, 2016 What Happens If There Is No Living Will? I’ve written before about the importance of designating a health care surrogate – someone you choose to make important medical decisions for you in the event that you become incapacitated due to injury,...

By: Barry E. Haimo, Esq. July 13, 2017 With the diversity and popularity of our state, probate matters can get quite interesting at times. In addition to citizens of the state who pass away here, there are also tourists, retirees, snowbirds, various other non-citizens, spouses of non-citizens,...

By: Barry E. Haimo, Esq. June 9, 2016 What’s an Outside Creditor? We’ve talked in previous posts about who creditors are and how they can go after your assets. In “What’s an Inside Creditor?”, we discussed the basics of protecting your personal assets from creditors going after your...

By: Barry E. Haimo, Esq. May 18, 2015 Are There Techniques Available to Avoid or Reduce Estate Taxes? [BEGIN TRANSCRIPT] HAIMO: There are many techniques that you can utilize to avoid or reduce estate tax liability. The threshold for estate tax liability changes periodically, so it’s important to consult with...

Probate: Beast or Burden   I said it before, and I'll say it again: probate is time consuming, expensive and unpredictable. It presses a lot of emotional pressure points that can really be a terrible burden on your family. I've seen it both professionally and...

Probate - Notice to Creditors - Part 1   By: Barry E. Haimo, Esq. March 3, 2014 Probate (also referred to as "estate administration") is something you generally want to avoid. However, there are circumstances where probate does offer some advantages. This post focuses on one of those advantages...

By: Barry E. Haimo, Esq. May 24, 2016 The New Health Care Surrogate Statute   A Health Care Surrogate is a critical document in any estate plan. Essentially, it enables the person executing the document -- known as the principal -- to designate one or more people to make...