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. May 19, 2015 How to Protect an Inheritance from a Spouse [BEGIN TRANSCRIPTION] HAIMO: One of the benefits of creating a trust is that it protects the interests of the beneficiaries. The interests of the beneficiaries are protected from their creditors, and one of...
Homestead Protection: How Vulnerable is a Home to Lawsuits? By: Barry E. Haimo, Esq. May 18, 2015 [VIDEO TRANSCRIPT] BARRY HAIMO: In Florida, the home is afforded the most protection of any asset that you can have. It is protected by the Florida constitution, and it has been protected and...
How Does an Asset Protection Trust Work? By: Barry E. Haimo, Esq. May 18, 2015 [BEGIN TRANSCRIPTION] HAIMO: An asset protection trust, like any other trust, is created for the primary benefit of the beneficiary. It is administered according to the terms of the trust agreement. The designated trustee...
Do I Have to Employ Asset Protection for All Types of Assets? By: Barry E. Haimo, Esq. May 18, 2015 [BEGIN TRANSCRIPTION] BARRY HAIMO: Asset protection is best utilized to protect your assets in general. To the extent that you have specific assets that are in businesses, or artwork...
By: Barry E. Haimo, Esq. May 18, 2015 Is Asset Protection Only for the Wealthy? [BEGIN TRANSCRIPTION] Asset protection is not only for the wealthy; it doesn’t require extraordinary wealth. If you have assets, you want to protect those assets, so they go to your family and not to...
How Do I Find an Attorney to Help Me with Asset Protection? By: Barry E. Haimo, Esq. May 18, 2015 [BEGIN TRANSCRIPTION] HAIMO: The best way to locate an attorney for your asset protection needs is by word of mouth – speaking to people that you know that you trust,...
Elder Scams: Sweepstakes and Lottery Scams Can Bankrupt Your Estate By: Barry E. Haimo, Esq. March 19, 2015 As the saying goes, “If it seems too good to be true, it probably is.” While this time-honored adage rings true in many different situations, it is particularly relevant when applied...
Why Leaving Everything to Your Spouse Isn’t Always the Best Idea By: Barry E. Haimo, Esq. March 5, 2015 In Florida, if you are married and have adult children together (assuming that neither one of you has children with another person), all of your assets will automatically go to...
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...