Bite-Sized Bits of Knowledge
An Introduction to Business Share Transfers
When you start a business with other people, each of you own a percentage of it – a share. In a two-person partnership, each of you might have a 50-50 share. Adding more people or entities of ownership, obviously, means a reduced shared for everyone. But what if one...
Why People Fail to Plan – and What to Do for Your Plan
We’ve written in the past about the frustratingly high percentage of people who do not have an estate plan. People who, if something happened to them today, would leave their assets – their legacy – completely at the mercy of the law, with no personal say in what...
An Introduction to Business Planning and Business Plans
If you are a small-to-medium-sized business owner, you may view building a business plan as a deeply complex endeavor that will require exorbitant amounts of time. And because of this, you might decide not to bother. You might tell yourself that you already have the...
Preparing Your Business for the Future: An Exit Planning Overview
As every business owner knows, there’s an endless stream of challenges and conflicts that can and often do arise during the life of the business. Business planning is the art and science of helping businesses at all stages of their life cycles, from the formation of...
How Does Your Trademark Factor In to Your Estate Plan?
You may feel that you’re acing your estate planning, because you have created a plan for both your personal and business assets: real estate, stocks, different bank accounts, trustees, business co-owners… And that’s great. But I want to draw your attention to an...
Copyright in Estate Planning
Intellectual property generally relates to three bodies of law: copyright, trademark and patent. Each has it’s own universe of significance, rights, remedies, and the like. In this page, we’re going to be focusing on copyright, a legal tool every artist, writer, or...
Advantages and Disadvantages of Different Business Structures
There are a variety of business structures depending on your business’ goals and needs, such as: Sole proprietorship Limited liability company (LLC) Professional Association Corporation S-Corporation Partnership Limited Partnership Limited Liability Partnership...
Should You Leave Everything to Your Spouse? Questions about Marriage and Estate Planning
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 your spouse unless you create an alternate plan. This is a good thing, right? After all,...
What Is “Elective Share” and How Can It Affect Your Estate?
Like homestead, Florida’s elective share can wreak havoc on an estate. What exactly is elective share?Hi, this is Barry Haimo. Thank you for stopping by for a dose of Bite-Sized Bits of Knowledge, where we give you meaningful information in a short amount of time....
The State Won’t Just Takes Your Assets – Estate Planning Myths Debunked
In estate planning, uncertainty and misconceptions often shroud the fate of our assets after we're gone. One prevalent belief revolves around the idea that if you pass away without a will, the state swoops in to claim your hard-earned wealth. Is this true? No. And...
