Bite-Sized Bits of Knowledge
Corporate Transparency Act: What to Know and Who is Affected
Corporate Transparency Act The Corporate Transparency Act is a pivotal piece of legislation that represents a significant shift towards enhancing corporate transparency in the United States. As a relatively new law, it introduces a complex framework aimed at...
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...
Where Trust Protectors Fit in a Trust
Trust Protectors Understanding the role of a trust protector or trust advisor can make a significant difference. Depending on the type of trust you have and the kind of guidance you need, these professionals can offer invaluable support. Now that you have a bit of...
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...
Funding Your Trust: Does It Really Need to Happen Right Away?
Funding Your Trust: Does It Really Need to Happen Right Away? By: Barry E. Haimo, Esq. April 18, 2024 If you’re thinking to getting a trust and know other people who have set them up, chances are good that you have gotten the advice – likely unsolicited – that it is...
Trust Distributions
How the Grantor Sets Up Trust Distributions and How the Trustee Manages Them By: Barry E. Haimo, Esq.May 23, 2024 Without distributions, a trust is just a collection of assets sitting around that cannot be touched. Because of this, setting up and managing trust...
