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...

Don’t Forget Your Business When Planning Your Estate By: Barry E. Haimo, Esq. September 5, 2014 When most people hear the words “estate planning,” they think about Wills and Trusts. After all, an estate plan is supposed to help you to put your personal finances in order when...

Inherited IRAs Lose Important Ground   By: Barry E. Haimo, Esq. June 25, 2014 Click here to read this post for a basic introduction to IRAs. As you know, one of the benefits of IRAs is that they are protected from creditors. This is particularly true in Florida, under Section 222.11, Florida...

The Basics: IRAs 101   By: Barry E. Haimo, Esq. June 18, 2014 Background:   An Individual retirement account ("IRA") is a financial vehicle with many benefits to the person who created it as well as his or her family. Some of the benefits include: Tax deferral *Asset protection from creditors Probate...

What Richie Incognito and Joe Robbie Have in Common Other Than the Dolphins   By: Barry E. Haimo, Esq. February 22, 2014 By now, everyone is tired of hearing about the Miami Dolphins. The commentary usually criticizes poor coaching, management and performance. These days, the story keeps on getting...

Estate Planning Hurdles For Same Sex Couples  Relevance With arguments over the constitutionality of the Defense of Marriage Act ("DOMA") having been heard at the United States Supreme Court level, what follows is a basic outline of some of the implications of these rights presently being experienced...

Shifting, Preserving and Protecting Wealth for Generations The amount of an estate that is exempt from estate tax is presently $5.25 million ("Unified Credit"). The rate of estate and gift tax that you can expect to pay above this amount is presently 40%. Aside from 2010...

General Provisions and Definitions Under the Florida Trust Code   PART I GENERAL PROVISIONS AND DEFINITIONS   736.0101 Short title. 736.0102 Scope. 736.0103 Definitions. 736.0104 Knowledge. 736.0105 Default and mandatory rules. 736.0106 Common law of trusts; principles of equity. 736.0107 Governing law. 736.0108 Principal place of administration. 736.0109 Methods and waiver of notice. 736.0110 Others treated as qualified beneficiaries. 736.0111 Nonjudicial settlement agreements. 736.0112 Qualification of foreign trustee.     736.0101 Short title.—This chapter may be cited...

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