Blog
Your Estate Plan Is Incomplete!
Your Estate Plan Is Incomplete! By: Barry E. Haimo, Esq. July 27, 2022 Your estate includes everything you own. (Watch Video to Learn More), and how you own assets is very important. If you don't plan ahead, then you may become mentally incapacitated or pass away with...
Start-Ups: How a Florida Business Planning Attorney Can Help
Start-Ups: How a Florida Business Planning Attorney Can Help By: Barry E. Haimo, Esq. July 20, 2022 Below, you'll gain a perspective from 30,000 feet about how and why I can help with your startup. I am an attorney, and attorneys are valuable to businesses. Attorneys...
Pet Trusts?
Pet Trusts? By: Barry E. Haimo, Esq. July 13, 2022 Few people plan and fewer plan specifically for their pets. For most people, they are lumped together with the other assets and just "dealt with". Do you want your pet to be treated like an old stereo? Is that what...
The Illusion that a Will Avoids Probate
Hi. Thanks for tuning in to another dose of bite-sized bits of knowledge, where we give you meaningful information in a short amount of time. Today we're going to talk about just one very narrow topic that we get all the time. I feel compelled to share with you. It's...
Understanding the Probate “Look Through” Rule in Florida
Understanding the Probate "Look Through" Rule in Florida By: Barry E. Haimo, Esq. May 12, 2022 Probate administration is never one size fits all. And if a trust-based estate plan was used in combination with a Last Will and Testament, it’s subject to unique...
What Happens When a Beneficiary Dies During Probate in Florida?
What Happens When a Beneficiary Dies During Probate in Florida? By: Barry E. Haimo, Esq. May 5th, 2022 Probate administration is a common process for many estates in Florida. But what happens when a named beneficiary dies before the probate process is complete? And...
How Florida Probate Affects Adopted Children
How Florida Probate Affects Adopted Children By: Barry E. Haimo, Esq. April 28, 2022 In the state of Florida, the estate of anyone who dies without a will is subject to probate. And even if the deceased had a will and had assets in their name without a designated...
What Should You Know about How Your Patent Fits into Your Estate Plan?
Patents are a practical reality for any business that participates in the development of novel processes or products. And, not surprisingly, patents in estate planning merit special consideration. They may be accidentally neglected, like trademarks and copyrights,...
The Benefits of Inter Vivos Trusts in New York
The Benefits of Inter Vivos Trusts in New York By: Barry E. Haimo, Esq. April 21, 2022 If you’ve started the estate planning process, you probably already crafted your Will with care. But there could be a missing piece to your estate plan. And it can even make things...
5 Ways to Avoid Probate in New York
5 Ways to Avoid Probate in New York By: Barry E. Haimo, Esq. April 14, 2022 If you are taking the time to plan your estate, you probably have your beneficiaries’ best interests in mind. So the last thing you’d want is for your estate to get tied up in probate. New...
Should You Create a Qualified Personal Residence Trust?
Learn the various ways a well-structured Qualified Personal Residence Trust (QPRT) can protect your assets and ensure your legacy.
A Step-by-Step Guide to Obtaining Letters of Administration in Florida
A Step-by-Step Guide to Obtaining Letters of Administration in Florida By: Barry E. Haimo, Esq. March 31, 2022 Are you a family member or personal representative of someone who has recently passed away in Florida? If so, you may be wondering what the next steps are in...
Transfers – Sale mechanism and problems with trusts as owners
Sales of shares, membership interests, partnership interests, etc. can be done in a variety of ways. Of course it’s customizable and can be tailored to the needs of the client. What's common to all entities is the structure involved. We...
Transfers – Slicing and Dicing and Wrongful Transfers
Remember that some entities allow for slicing and dicing of rights with respect to shares of ownership. That means that you can own voting rights and economic rights, and you can separate the two of them. Other entities do not have that...
The Marlon Brando Will: An Estate Planning Lesson
The Marlon Brando Will: An Estate Planning Lesson By: Barry E. Haimo, Esq.March 21, 2022 More than a decade has passed since the famous actor Marlon Brando died. But those tumultuous years of posthumous court battles from the Marlon Brando will are still memorable to...
What NY Snowbirds Need to Know About Ancillary Probate
What NY Snowbirds Need to Know About Ancillary Probate By: Barry E. Haimo, Esq. March 17, 2022 Are you one of the many fortunate New Yorkers who call Florida your home away from home for part of the year? If so, you probably own a condo, timeshare, or other real...
Transfers – Rights of First Refusal
It's very common to build in a right of first refusal into a governing document. It's a way of keeping the shares in the family. The way it works is that the partners have a right to match the material terms of any bona fide offer from a...
The Estate Planning Loop
After executing your documents and successfully implementing the plan, you are done -- well for a while. Remember, estate planning deals creates a flexible framework to help navigate life's uncertainties. As life changes, you need to review and potentially rethink...
Is There Anything that I Can Do if I Realize that My Parents’ Have Outdated Estate Planning?
How to Respond if Your Parents Have Outdated Estate Planning By: Barry E. Haimo, Esq. March 13, 2022 [BEGIN TRANSCRIPTION] HAIMO: If you find that your parents have outdated estate planning, you should broach the subject fairly soon. It's important that they...
Estate Planning Facts for NY Same Sex Couples
Estate Planning Facts for NY Same Sex Couples By: Barry E. Haimo, Esq. March 10th, 2022 Since the landmark case of Obergefell v. Hodges in 2015, all 50 states have legalized same sex marriage. Earlier, in 2013, the Defense of Marriage Act (DOMA) was deemed...
Transfers – Involuntary Termination of Employment or Membership Interests
Termination of employment is a common trigger of an involuntary transfer. If you give a key person equity, and they leave the closely held company, then typically they cannot and reasonably should not retain their shares. They are are...
Fundamentals of Administering Nested Business Entities
Fundamentals of Administering Nested Funding Business Entities By: Barry E. Haimo, Esq. March 6, 2022 Forming nested funding business entities is a big move. And administering them properly is critical to successfully enjoying many asset protection benefits. Here are...
Increasing Estate Tax Exemption in 2022
Increasing Estate Tax Exemption in 2022 By: Barry E. Haimo, Esq. March 3, 2022 Each year, the federal estate tax exemption changes to reflect inflation in the US economy. And in addition to the estate tax exemption, the federal gift tax exclusion amount is increasing...
Transfers – Involuntary Disability Trigger
Disability is a common trigger of an involuntary transfer. If someone cannot perform, they are not able to contribute to the business. They will, meanwhile, continue to own shares and receive distributions (not salary). That alone is a...
Heath Ledger and Estate Planning for Life-Changing Events
Heath Ledger and Estate Planning for Life-Changing Events By: Barry E. Haimo, Esq.February 26, 2022 Once you have created a will, it’s easy to forget. And not many of us spend time focusing on what will happen to our worldly possessions when we’re gone. This seems to...
