Blog
3 Dangers of Probate
3 Dangers of Probate You Should Know By: Barry E. Haimo, Esq. September 6, 2021 When considering estate planning, you’ll hear a lot of talk about “avoiding probate.” But what is probate, and what are the dangers of probate you should know? Probate refers to the legal...
Life insurance in estate planning
Life insurance is important for income replacement, business buy-outs and succession and tax planning. There are many types of policies and a lot of minutiae that makes everyone but lawyers crazy (even the lawyers too). Understanding how...
The Dangers of Irrevocable Trusts
Considering the Dangers of Irrevocable Trusts By: Barry E. Haimo, Esq. August 30, 2021 People put money into trusts for a number of reasons. They want to avoid probate. They’re nervous about creditors getting their money. They believe their private affairs should stay...
Beyond Trusts: 3 Strategies to Help High Net Worth Estates Protect Wealth
Beyond Trusts: 3 Strategies to Help High Net Worth Estates Protect Wealth By: Barry E. Haimo, Esq. August 26, 2021 You worked hard to achieve the wealth that you have. Not only for yourself, but for those who will one day inherit it -- along with the responsibility of...
Can Your Nominated Personal Representative Be Trusted?
Cristin Gerczak, Esq. August, 24, 2021 You want to be a responsible person and prepare an estate plan to protect your loved ones. Part of this process is to choose someone that will serve as your Personal Representative. Your Personal Representative is the person...
Can I Use a Copy of a Will?
Can I Use a Copy of a Will? By: Barry E. Haimo, Esq. August 24, 2021 [VIDEO TRANSCRIPT] BARRY HAIMO: In probate proceedings, you do in fact need the original will. However, if you have a copy and the original will cannot be found, that can be used under most...
Beneficiary vs. Heir: What Is the Difference Between an Heir and a Beneficiary?
Beneficiary vs. Heir: What Is the Difference Between an Heir and a Beneficiary? By: Barry E. Haimo, Esq. August 20, 2021 You need to understand the difference between your heirs and beneficiaries. Not doing so could change the way you plan your estate, and later cause...
7 Trusts All High Net Worth Estates Should Consider
7 Trusts All High Net Worth Estates Should Consider By: Barry E. Haimo, Esq. August 19, 2021 Estate planning can be challenging -- especially for those with a high net worth. You want to protect your family, assets, and business, and gain the peace of mind of knowing...
Considering a GRAT? What You Should Know First
Considering a GRAT? What You Should Know First By: Barry E. Haimo, Esq. August 12, 2021 You’ve worked hard to amass your wealth. And you want to pass it on to those you’ve chosen with as little hassle as possible. However, due to the size of your estate, you may find...
Understanding Transfer of Property by Operation of Law
Understanding Transfer of Property by Operation of Law By: Barry E. Haimo, Esq. August 9, 2021 Transcript BARRY E. HAIMO, ESQ.: There are a variety of different types of ownership that will transfer by operation of law: most notably, tenants by the entirety and joint...
Who Qualifies as a Probate Party?
Who Qualifies as Part of the Probate Party Process? By: Barry E. Haimo, Esq. August 9, 2021 Estate administration (or probate) can be a lengthy court process. It requires addressing the ABCs of a deceased persons's life: assets, beneficiaries and creditors. But let's...
What Discretionary Income Has to Do With Your Estate Plan
What Discretionary Income Has to Do With Your Estate Plan By: Barry E. Haimo, Esq. August 5, 2021 When it comes to estate planning, most people tend to think of the items in that plan as static. Accounts that have set amounts of money -- or at least that you don’t...
Years of experience to share and teach
It's not good enough to just know the law or even to understand the terrain and landscape surrounding the law. It's critical to be able to communicate and explain the material in a digestible manner. It's critical (to us at least) that our...
Problems That May Come With Giving Your Kids an Early Inheritance
Problems That May Come With Giving Your Kids an Early Inheritance By: Barry E. Haimo, Esq. July 29, 2021 You’ve worked hard in your life to accumulate wealth, and you have everything set up just as you want in the event of your death. Now, you’re thinking about giving...
How to Protect Your Estate against Your Child’s Possible Future Divorce
How to Protect Your Estate against Your Child's Possible Future Divorce By: Barry E. Haimo, Esq. July 22, 2021 Family relationships can be complicated -- especially when it comes to your adult children. After all, you can plan your own legacy through estate planning,...
What Is An Educational Trust and How Does It Work?
What Is An Educational Trust and How Does It Work? By: Barry E. Haimo, Esq.July 19, 2021 You don’t have to be extremely wealthy to set up a trust fund for your loved ones. With the right guidance from a knowledgeable Florida trust attorney, you can easily set up a...
Does Your Estate Plan Have These “Non-Financial” Assets?
Does Your Estate Plan Have These "Non-Financial" Assets? By: Barry E. Haimo, Esq. July 15, 2021 When participating in estate planning, it’s natural to only think about the financial aspects of your estate. Monetary accounts you have. Property you own. And so on....
Florida Executor Fees: How Much Does an Executor Get Paid?
Florida Executor Fees: How Much Does an Executor Get Paid? By: Barry E. Haimo, Esq. July 12, 2021 How do Florida executor fees work? How much does an executor get paid, if at all? Here's an overview of the topic. [BEGIN TRANSCRIPTION] BARRY HAIMO: An executor or...
Where Should Business Owners Start with Estate Planning?
Where Should Business Owners Start with Estate Planning? By: Barry E. Haimo, Esq. July 8, 2021 When you own a small business, you have many things competing for your attention daily. From invoicing to hiring to marketing, you have your hands full. For many small...
What Are the Different Types of Joint Venture?
By: Barry E. Haimo, Esq. July 5, 2021 What Are the Different Types of Joint Venture? If you are still trying to determine what type of partnership you want to form, look at the goals you are trying to achieve. This is where creating a joint venture may become your...
6 Planning Tips for Every High-Net-Worth Estate
6 Planning Tips for Every High-Net-Worth Estate Making decisions about high-net-worth estates demands careful planning to eliminate regrets later. You want to protect your assets and protect your family. Unfortunately, all-too-often high-net-worth individuals’...
Can You Have Your Cake and Eat It Too With Irrevocable Trusts?
Can You Have Your Cake and Eat It Too With Irrevocable Trusts? By: Barry E. Haimo, Esq. June 25, 2021 Irrevocable trusts tend to be a bit misunderstood. When most people think of these types of trusts, they think that they don’t offer any type of flexibility. And, in...
Haimo Law Process
Not every firm focuses on estate planning and not every estate planning firm is competent to engage in business planning and business succession planning like we do. Our unique 3-step proven process also sets us apart as well. We take the...
Life Insurance: The Oft-Forgotten Tool in Your Estate Planning Tool Belt
Life Insurance: The Oft-Forgotten Tool in Your Estate Planning Tool BeltEstate planning can be complicated. After all, you must consider wills, trusts, powers of attorney, and how to avoid probate years in advance if you want to do it right. But many people overlook...
What happens if you fail to plan ahead the default rules
The default rules kick in if you don't have a plan in place. That means that the state statute will determine your beneficiaries and fiduciaries. For a minority of families, it may be okay. But for most families, the default rules are...
