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Haimo LawTV

Introduction to Trusts [South Florida Law Firm -- Haimo Law]

3,169 views 1 year ago
Go Here: http://www.HaimoLaw.com.
Strategic Planning With Purpose.
Call Us at (954) 599-7483 or email info@haimolaw.com.

We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) helps you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price and customer service you will not find elsewhere. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

A trust is an incredibly valuable and versatile tool to accomplish many of your estate and business planning objectives. Basically, you create a separate legal entity that owns and administers property for the benefit of certain beneficiaries. One or more trustees are appointed to administer the trust pursuant to the document's precise instructions. They must adhere to the instructions at the risk of being held personally liable. That's why trustees are called fiduciaries, because they are subject to a higher standard of care in exercising their duties. Because they are separate legal entities, they do not "die". In fact, they can last up to 360 years in Florida! Since they can own virtually any type of property, trusts ensure a smooth transition of family and/or business assets or wealth to subsequent generations while still exercising a fair amount of control over the property far beyond the time of death. Trusts are also employed in connection with estate and gift tax reduction strategies.

Where they are relevant to everyone is how helpful they are in avoiding probate and avoiding guardianship, which as you now know, can be very time consuming, expensive, not private and dangerously unpredictable. There are many types of trusts, with each having unique advantages and disadvantages. Some are excellent for simple estate planning. Others are useful for estate and gift tax planning. Still others can be used for current and deferred charitable giving.

Finally, trusts are excellent vehicles to integrate into an asset protection plan, thereby taking advantage of both estate planning and asset protection techniques planning simultaneously. Given how powerful trusts can be, you have to ensure that they are carefully drafted. Small mistakes often have dangerously large consequences. We strongly advise you to retain the services of an attorney that focuses exclusively on wills, trusts and estates, and avoid do-it-yourself products and services at all costs.

advance directive trust fund probate court living will form revocable living trust special needs trust real estate lawyer executor of estate what is probate testamentary trust living wills how to write a will wills and trusts what is a living trust estate taxes what is a llc how to make a will online will

These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: http://haimolaw.com/legal-d....

Introduction to Trusts [South Florida Law Firm -- Haimo Law]
http://www.youtube.com/watc...
Read more
Go Here: http://www.HaimoLaw.com.
Strategic Planning With Purpose.
Call Us at (954) 599-7483 or email info@haimolaw.com.

We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) helps you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price and customer service you will not find elsewhere. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

A trust is an incredibly valuable and versatile tool to accomplish many of your estate and business planning objectives. Basically, you create a separate legal entity that owns and administers property for the benefit of certain beneficiaries. One or more trustees are appointed to administer the trust pursuant to the document's precise instructions. They must adhere to the instructions at the risk of being held personally liable. That's why trustees are called fiduciaries, because they are subject to a higher standard of care in exercising their duties. Because they are separate legal entities, they do not "die". In fact, they can last up to 360 years in Florida! Since they can own virtually any type of property, trusts ensure a smooth transition of family and/or business assets or wealth to subsequent generations while still exercising a fair amount of control over the property far beyond the time of death. Trusts are also employed in connection with estate and gift tax reduction strategies.

Where they are relevant to everyone is how helpful they are in avoiding probate and avoiding guardianship, which as you now know, can be very time consuming, expensive, not private and dangerously unpredictable. There are many types of trusts, with each having unique advantages and disadvantages. Some are excellent for simple estate planning. Others are useful for estate and gift tax planning. Still others can be used for current and deferred charitable giving.

Finally, trusts are excellent vehicles to integrate into an asset protection plan, thereby taking advantage of both estate planning and asset protection techniques planning simultaneously. Given how powerful trusts can be, you have to ensure that they are carefully drafted. Small mistakes often have dangerously large consequences. We strongly advise you to retain the services of an attorney that focuses exclusively on wills, trusts and estates, and avoid do-it-yourself products and services at all costs.

advance directive trust fund probate court living will form revocable living trust special needs trust real estate lawyer executor of estate what is probate testamentary trust living wills how to write a will wills and trusts what is a living trust estate taxes what is a llc how to make a will online will

These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: http://haimolaw.com/legal-d....

Introduction to Trusts [South Florida Law Firm -- Haimo Law]
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Crash Course on Wills, Trusts, Probate, Business Planning.. Play

Wills, Trusts, Probate, Business Planning and Asset Protection, each in 4 minutes. Learn more, save more, spend less. Haimo Law offers Strategic Planning with Purpose.

We are diligent and dependable, compassionate and personable and innovative and professional. Offering Strategic Planning With Purpose, Haimo Law (HaimoLaw.com) helps you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

For Wills, Trusts, Probate, Business Planning and Asset Protection, call Haimo Law at (954) 599-7483 or email info@haimolaw.com. These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: http://haimolaw.com/legal-disclaimer; http://thelaw.tv/broward/About/disclaimer.

Trusts Play

A trust is an incredibly valuable and versatile tool to accomplish many of your estate and business planning objectives. Basically, you create a separate legal entity that owns and administers property for the benefit of certain beneficiaries. One or more trustees are appointed to administer the trust pursuant to the document's precise instructions. They must adhere to the instructions at the risk of being held personally liable. That's why trustees are called fiduciaries, because they are subject to a higher standard of care in exercising their duties.

Because they are separate legal entities, they do not "die". In fact, they can last up to 360 years in Florida! Since they can own virtually any type of property, trusts ensure a smooth transition of family and/or business assets or wealth to subsequent generations while still exercising a fair amount of control over the property far beyond the time of death. Trusts are also employed in connection with estate and gift tax reduction strategies.

Where they are relevant to everyone is how helpful they are in avoiding probate and avoiding guardianship, which as you now know, can be very time consuming, expensive, not private and dangerously unpredictable.

There are many types of trusts, with each having unique advantages and disadvantages. Some are excellent for simple estate planning. Others are useful for estate and gift tax planning. Still others can be used for current and deferred charitable giving.

Finally, trusts are excellent vehicles to integrate into an asset protection plan, thereby taking advantage of both estate planning and asset protection techniques planning simultaneously.

Given how powerful trusts can be, you have to ensure that they are carefully drafted. Small mistakes often have dangerously large consequences. We strongly advise you to retain the services of an attorney that focuses exclusively on wills, trusts and estates, and avoid do-it-yourself products and services at all costs.

We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) Plans with Purpose to help you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

Wills Play

A "Last Will and Testament" or a "Will" is a legal document that expresses your postmortem wishes. It appoints a personal representative or executor to administer your estate. It designates a guardian of the person and property of minor children. It usually covers burial instructions, funeral expenses and estate tax apportionment.

However, it is most commonly understood to govern the transfer of a deceased person's property to his/her designated beneficiaries. The term "Property" includes everything you can possibly own, such as cash, stocks, bonds, houses, vehicles, jewelry, artwork, business interests, and even future interests-think Michael Jackson. His estate will be open for a very long time. In other words, property is everything you own, both now and in the future.

*Please note that a will does not avoid probate. A properly drafted and executed estate plan will remove all assets from your name and provide for a smooth transition for your family not only after death (avoiding probate), but in the event you become incapacitated from injury or illness (guardianship). It's a no-brainer for both financial as well as emotional reasons. Your estate goes through Probate with or without a will unless you plan ahead. Watch the videos on Probate to learn why you need to avoid it.

**What you need to know is that Probate is very expensive, time consuming, not private and dangerously unpredictable.

We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) Plans with Purpose to help you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

Probate Administration Play

Whether or not you have a validly executed Will, your estate will go through Probate to the extent that you die owning assets in your name.

"Probate" is the legal process through which a deceased person's affairs are formally settled. First, an attorney must be retained to open up an estate w/ the court. A person is then appointed to administer the estate, who is often called a Personal Representative or Executor. The Personal Representative works with the attorney and is responsible for overseeing the entire process, beginning with locating a validly executed will. The Personal Representative must then identify and gather all the deceased person's assets, file an inventory with the court and notify the deceased's creditors of the pending estate. It's a lot of work.

Next, assets are then pooled together and used to satisfy creditors' claims.

Finally, the balance of assets are ultimately distributed to the proper beneficiaries, who - as you now know from the crash course on wills - are determined by the will or may be decided for you by the state in which you reside.If you cannot find a will, if a will is invalid, destroyed, or for any other reason that a valid will is not accepted by the court, the estate will proceed as if the deceased died without one. This is called intestate, and it invokes state law to fill in the gaps for you. If you have a will, it's called testate. In either case, your estate will go through probate.

We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) Plans with Purpose to help you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

Asset Protection Play

The term "Property" includes everything you can possibly own. Both You and your property have the potential to harm someone or something in some way, either actively or passively.

Consequently, if that happens, you're probably on the hook unless you planned ahead. Forming a business entity, such as a corporation, does limit your personal liability in some ways, but leaves you extremely vulnerable in other ways.

Fortunately, you can protect yourself, your family, your business and your assets. Asset protection planning involves taking advantage of debtor friendly laws, especially in Florida, in order to minimize your exposure to personal liability. I'm talking about maximizing your use of assets that are deemed "off limits" to creditors. It also includes covering all your bases such that you and your properties are both isolated and insulated from each other.

An effective plan also requires using the combination of several business entities and trusts. I'm pleased to share with you that asset protection is NOT necessary for everyone. But if you're serious about protecting your assets, you need an asset protection plan.

Asset protection is relevant to estate planning because they overlap significantly. An effective plan will have your estate plan built-in so your business and estate transitions smoothly to subsequent generations.

We are diligent and dependable, compassionate and personable and innovative and professional. Strategic Planning With Purpose, Haimo Law (HaimoLaw.com) helps you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.
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