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...
Should You Create a Qualified Personal Residence Trust? By: Barry E. Haimo, Esq. April 7, 2022 What is a Qualified Personal Residence Trust (QPRT)? A QPRT is an irrevocable trust that allows a person (the grantor) to remove a primary residence and/or a...
If a Person Has a Revocable Living Trust, What Happens When They Die? By: Barry E. Haimo, Esq. January 25, 2022 [BEGIN TRANSCRIPTION] HAIMO: If a person executes a revocable living trust and all of their property is in the name of the trust, then there is no need for...
What to Consider When Selecting a Successor Trustee By: Barry E. Haimo, Esq. December 16, 2021 Selecting a successor trustee is no easy task. Too often, well-designed estate strategies fail due to poor execution by those in authority. This is true where managing...
What Is the Best Type of Trust for Married Couples? By: Barry E. Haimo, Esq. November 25, 2021 If you’re beginning the process of planning ahead to protect your assets, you might be considering a revocable living trust as part of your estate planning. After all, you...
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...
