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Introduction to C-corporations
Corporations are the oldest of business entities. Like the other business entities that we have talked about, they are relatively easy to form. They can satisfy some objectives and not others. There's some tax considerations and long-term...
Five Ways to Protect Your Assets from Lawsuits
Five Ways to Protect Your Assets from Lawsuits By: Barry E. Haimo, Esq. November 18, 2021 A quick internet search reveals that some of the world’s richest people often experience lawsuits that threaten their wealth. The larger your estate, the greater your need to...
General Partnerships
Like sole proprietorships, general partnerships don't require any filings and are created automatically. Lettuce simultaneously convenient and dangerous. General partnerships have their purpose but are typically not recommended. Relative...
Who Pays for the Costs of Probate and Estate Administration?
Who Pays for the Costs of Probate and Estate Administration? By: Barry E. Haimo, Esq. November 15, 2021 [BEGIN TRANSCRIPTION] BARRY HAIMO: The costs associated with probate administration are paid by the estate itself, that includes payments for personal...
Protecting Your Healthcare Decision Making Rights
Protecting Your Healthcare Decision Making Rights By: Barry E. Haimo, Esq. November 11, 2021 When it comes to medical treatment, most value their ability to freely make their own healthcare decisions. The bad news is that one day you might lose the capacity to make...
Do Beneficiaries Have to Pay Creditors Out of Their Own Pocket If the State Is Involved?
Do Beneficiaries Have to Pay Creditors Out of Their Own Pocket If the State Is Involved? By: Barry E. Haimo, Esq. November 8, 2021 [BEGIN TRANSCRIPTION] BARRY HAIMO: Generally, in probate proceedings, the assets from an estate are pooled together and creditors are...
Biden’s Proposed Changes to Capital Asset Taxes: How Could They Affect You?
Biden’s Proposed Changes to Capital Asset Taxes: How Could They Affect You? By: Barry E. Haimo, Esq. November 4, 2021 President Biden has made sweeping policy changes in a short amount of time since entering office, and some people are curious how the new...
Top 5 Estate Planning Tips for Physicians
Top 5 Estate Planning Tips for Physicians By: Cristin Gerczak, Esq. November 2, 2021 As a successful working physician, you want to leave your practice in order as a legacy for your family. In addition to shielding assets, you also need to ensure that your medical...
Who Are the Parties in a Limited Partnership?
Who Are the Parties in a Limited Partnership? By: Barry E. Haimo, Esq. November 1, 2021 So you’ve decided that your new business venture will take the form of a limited partnership (LP). You want passive income, protection of your assets, and flexibility for all of...
How to Handle Unexpected Debts on an Estate
How to Handle Unexpected Debts on an Estate By: Barry E. Haimo, Esq. October 28, 2021 Taking the time to plan your estate is a critical step in ensuring your legacy and assets are protected after you are gone. But what if you have outstanding debts after you pass that...
Introduction to Formation
Forming a business entity is easy to do, but not as easy to do right. To start, you’ll learn from this video series that forming the wrong entity can be a huge problem. Also, putting the wrong information on the filing can be harmful to...
Failure to Respect Corporate Formalities and Piercing the Corporate Veil
Failure to Respect Corporate Formalities and Piercing the Corporate Veil By: Barry E. Haimo, Esq. October 25, 2021 When it comes forming your business, you have options: disregarded sole proprietorship, general partnership, limited partnerships, limited liability...
More Non Legal Formation Advice
Some non-legal advice to get us started. Part 2 of 2. Don’t forget to download our FREE: Business planning stress test Florida business entity comparison chart Additional Resources: If you’ve been struggling with growing your business,...
Top 6 Estate Planning Tips for Veterinarians
Top 6 Estate Planning Tips for Veterinarians By: Cristin Gerczak, Esq. October 19, 2021 As a successful veterinarian, you want to protect the success and stability of your veterinary practice. In order to gain peace of mind, it helps to know that you're prepared and...
Understanding Trusts and the Duties and Responsibilities of Trustees
Understanding Trusts and the Duties and Responsibilities of Trustees By: Barry E. Haimo, Esq. October 18, 2021 A trust is a separate legal entity that owns and administers property for the benefit of certain beneficiaries. One or more trustees are appointed to...
As Your Digital Assets Grow, Make Sure They’re Covered By Your Estate Plan
As Your Digital Assets Grow, Make Sure They're Covered By Your Estate Plan By: Barry E. Haimo, Esq. October 14, 2021 When doing estate planning, many people know that they need to include assets such as their valuable possessions, real estate interests, financial...
How Can an LLC Help You with Estate Planning?
How Can an LLC Help You with Estate Planning? By: Barry E. Haimo, Esq. October 7, 2021 For many people who are working on an estate plan, one of the biggest concerns they have is the amount that will need to be paid in gift taxes or estate taxes upon their death....
Can I Name an Alternate Beneficiary in My Will?
Can I Name an Alternate Beneficiary in My Will? By: Barry E. Haimo, Esq. October 4, 2021 [BEGIN TRANSCRIPT] HAIMO: In Florida, you can designate your beneficiaries in your will. You can designate a variety of different beneficiaries and the way which they’re going to...
What Kinds of Elements Should Entrepreneurs Use in Their Estate Plan?
What Kinds of Elements Should Entrepreneurs Use in Their Estate Plan? By: Barry E. Haimo, Esq. September 30, 2021 As an entrepreneur, you understand the time and energy necessary to make your small business run smoothly and successfully. But it can be hard to predict...
Your Power of Attorney and Personal Representative: Not the Same
By: Cristin Gerczak. Esq. September 28, 2021 Protecting your family and assets means understanding estate planning documents and the designated fiduciaries that are a part of your plan. Knowing you’re in control supports your peace of mind. One common misconception...
Do You Know the Biggest Florida Estate Planning Mistakes?
It’s sad but true: estate planning mistakes are incredibly easy to make. Planning your estate is a complicated process, with lots of potential pitfalls that you need to avoid. Worse, while there are certainly similarities and big rules that every estate plan must...
The Importance of Designating an Alternate Personal Representative
The Importance of Designating an Alternate Personal Representative By: Barry E. Haimo, Esq. September 20, 2021 When planning your estate, determining who to name as a personal representative is incredibly important. I can also be challenging. Since personal...
Estate planning to keep the money in the family
Keep Money in the Family By Engaging in Smart Estate Planning Thoughtful estate planning often includes accomplishing the objective of ensuring that your money and property actually goes where you want it to go. Quite often, that means keeping it in the family....
Top 5 Estate Planning Benefits for Real Estate Investors
Top 5 Estate Planning Benefits for Real Estate Investors By: Cristin Gerczak. Esq. September 14, 2021 So you’re a savvy real estate investor. Of course you want to grow your portfolio and maximize a legacy that your loved ones can eventually inherit. Estate planning...
What You Need to Know about Valuing Estate Assets
What You Need to Know about Valuing Estate Assets By: Barry E. Haimo, Esq. September 9, 2021 When dealing with the death of a loved one, surviving family members often consult estate planners or legal experts regarding valuing estate assets. They want to know if it is...