Bite-Sized Bits of Knowledge
BBK Profits Interests
What Are Profits Interests and Why Should You Care? By: Barry E. Haimo, Esq.July 11, 2024 Let’s explore a valuable tool for partnerships: profits interests. Whether you're looking to reward key personnel or align their interests with the company's future...
BBK Corporate Transparency Act
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Trust Disclosures: What You Need to Know about Notices and Accountings
Trust Disclosures: What You Need to Know about Notices and Accountings By: Barry E. Haimo, Esq.June 21, 2024 If you are administering a trust, there is certain information that you are required to provide to particular parties. This information is covered under an...
What (and Who) Is Involved in Managing Your Trust?
What (and Who) Is Involved in Managing Your Trust? By: Barry E. Haimo, Esq.June 24, 2024 Managing a trust can be a complicated job, which is why it is so important to make sure you choose the right trustee. There are a variety of skills required to make sure...
Trust Succession and Other Trustee Duties
Trust Succession and Other Trustee Duties By: Barry E. Haimo, Esq. June 20, 2024 If you are named as the trustee for someone’s trust, you probably understand that you have some specific duties that you are expected to carry out. What you might not know is that part of...
BBK Trust Protectors
Hi, welcome back to another dose of bite-sized Bits of Knowledge, where we give you meaningful information in a short amount of time. Today, we're going to talk about trust protectors. Trust protectors are also commonly referred to as trust advisors. Either way, we're...
BBK Trust: Corporate And Professional Trustees
What to Know about Corporate And Professional Trustees By: Barry E. Haimo, Esq.June 6, 2024 Understanding the distinctions between a professional trustee and a corporate trustee is crucial for effective trust management. Each type of trustee brings unique...
BBK: Trust Administration: What Can Go Wrong
What Can Go Wrong In Trust Administration By: Barry E. Haimo, Esq.May 30, 2024 Effective trust administration is crucial to ensuring that a trust is managed according to its terms and the law. However, several challenges can arise, potentially complicating the...
Directed Trustees and Other Possible Trust Parties
Directed Trustees and Other Possible Trust Parties By: Barry E. Haimo, Esq. May 25, 2024 While there are three main parties that are involved in every trust – the Creator, the Trustee, and the Beneficiary – those are not the only possible parties who might be involved...
Powers of Appointment: Situations Where You Might Use Them
Powers of Appointment: Situations Where You Might Use Them By: Barry E. Haimo, Esq. April 10, 2024 A Power of Appointment is a very powerful tool that you can include in a trust to provide additional flexibility if you don’t want to stay locked into the original terms...
