The Essence of Trusts Diana thought that she had learned her lesson when her husband, Benny, died without any kind of estate planning documents. The lengthy probate was made doubly difficult because they had a business together as well as a son with disabilities. With no...
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...
What Is a Trust? By: Barry E. Haimo, Esq. March 27, 2014 A trust is an incredibly valuable and versatile tool that can enable you to accomplish many of your estate and business planning objectives. There are all kinds of different types of trusts out there, many with very specific...
The Perils of Administering a Trust in Florida By: Barry E. Haimo, Esq. January 20, 2015 If a loved one or close friend asks you to serve as administrator for their trust, chances are good that you’re going to say yes. After all, they are trusting you with...
Trusts Are Like Toothpaste Tubes https://www.youtube.com/watch?v=tGBd1olqIe8&t=12s You read the title correctly. Trusts are in fact a lot like toothpaste tubes. Let me tell you how. First, you have full control over how much toothpaste is squeezed out. You can squeeze out a little or a lot. It's...
5 Reasons to Love Trusts https://www.youtube.com/watch?v=tGBd1olqIe8&t=12s 1. Avoids Probate - Trusts own property in its name instead of your name. Remember that property can include everything you own (Learn more here). As a result of retitling your property into the name of your trust, there's no assets to go...
Another Benefit of Trusts: Owning Real Estate in Multiple States By: Barry E. Haimo, Esq. March 26, 2015 There are many benefits associated with setting up a trust or estate administration, and avoiding probate is at the top of the list. Probate can be a costly, stressful, and...
By: Barry E. Haimo, Esq. August 31, 2017 Understanding Different Kinds of Trusts The best way to learn about the different kinds of trusts available to you is to sit down with a knowledgeable Florida estate planning attorney and explain what you are looking for. Why? Because there are simply...
Wrong Kind of Trust By: Barry E. Haimo, Esq. December 18, 2014 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 that way. In Jerry’s case, he was...
Business Planning Prezi Presentation Business planning relates to the strategic manner in which you organize and position your business to maximize its likelihood of succeeding. For startups, it typically includes tax and entity selection, governing documents and agreements for key personnel. Governing documents typically address ownership,...