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...
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...
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...
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...
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,...
By: Barry E. Haimo, Esq. October 13, 2015 Retirement Accounts Shouldn’t Go to a Revocable Living Trust In the right circumstances, revocable living trusts can be wonderful estate planning tools that can accomplish a wide variety of important goals. A revocable living trust can help you safeguard property and...
By: Barry E. Haimo, Esq. September 29, 2015 How to Protect IRA Assets for Beneficiaries with Trusts As an estate planning attorney, I often work with clients who have accrued large amounts in qualified retirement plans like individual retirement accounts, or IRAs. Often, their IRAs have developed into...
By: Barry E. Haimo, Esq. September 22, 2015 Estate Planning: Don’t Unintentionally Disinherit Your Stepchildren The modern family comes in many shapes and sizes. In Florida, many households include a mix of biological children and stepchildren—children from prior marriages or relationships. When it comes to estate planning, parents of...
By: Barry E. Haimo, Esq. September 1, 2015 The Importance of Funding Your Trust in a Proper and Timely Manner While creating a trust is a good first step, it is by no means the last. For a trust to work effectively, it must be properly funded. “Funding” refers...