During times of economic and tax law uncertainty, the more flexible your estate plan, the better. As some parts of the country are rebounding economically from effects of the COVID-19 pandemic, other areas continue to...more
If you’re a business owner, you’ve likely worked long and hard to achieve your goals. It would be a shame if creditors were able to reach your assets before you’ve transferred wealth to the younger generation. Fortunately,...more
11/2/2021
/ Asset Protection ,
Beneficiaries ,
Business Ownership ,
C-Corporation ,
Creditors ,
Estate Planning ,
Family Limited Partnerships ,
Irrevocable Trusts ,
Limited Liability Company (LLC) ,
S-Corporation ,
Wealth Management
The term “probate” is one you may have heard and might associate with negative connotations, but you don’t fully understand what it is. For some, the term conjures images of lengthy delays waiting for wealth to be transferred...more
For years, you may have viewed estate taxes as the main threat to your family fortune, especially if you own a successful business or valuable real estate. But with the federal gift and tax exemption set at $11.58 million for...more
7/27/2020
/ Asset Protection ,
Creditors ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift-Tax Exemption ,
Homeowner's Insurance ,
Irrevocable Life Insurance Trusts ,
Liability Insurance ,
Life Insurance ,
Tax Planning ,
Tenancy by Entirety
Probate. The word itself is enough to strike fear into the hearts of elderly individuals and their loved ones. It conjures images of lengthy delays waiting for wealth to be transferred and bitter disputes among family...more
12/4/2018
/ 401k ,
Beneficiaries ,
Change of Ownership ,
Creditors ,
Estate Planning ,
Executors ,
Individual Retirement Account (IRA) ,
Intestate Succession ,
Joint Ownership ,
Joint Tenancy with Right of Survivorship ,
Living Trust ,
Payable on Death Clauses ,
Probate ,
Testamentary Trust ,
Transfer of Assets ,
Transfer of Title ,
Wills
One of the primary objectives of estate planning is protecting assets from unreasonable creditors’ claims, frivolous lawsuits or financial predators ? the reason being to pass as much wealth to family members as possible....more
4/3/2018
/ Asset Protection ,
Creditors ,
Estate Planning ,
Family Limited Liability Companies ,
Family Limited Partnerships ,
Fraudulent Transfers ,
Gifts ,
Individual Retirement Account (IRA) ,
Liability Insurance ,
Retirement Plan ,
Risk Assessment ,
Trusts
In This Issue:
- Estate planning for your business: Use an ESOP to properly address your closely held company
- Are your assets protected from creditors?
- Preparing a parent for a nursing home
- ESTATE PLANNING...more
4/2/2018
/ Closely Held Businesses ,
Creditors ,
Elder Care ,
Elder Issues ,
ESOP ,
Estate Planning ,
Family Businesses ,
Liability Insurance ,
Life Insurance ,
Long Term Care Facilities ,
Nursing Homes ,
Popular ,
Retirement Funds ,
Transfer of Assets ,
Trust Assets ,
Trusts
If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more
A common estate planning mistake that many people make is to own property jointly with a child or other family member. True, adding a loved one to the title of your home, bank account or other property can be a simple...more
An IRA can be a valuable estate planning tool, offering tax-deferred growth (tax-free in the case of a Roth IRA) and asset protection. But two recent developments create traps for the unwary: the “one-rollover-per-year” rule...more
With the current estate tax regime of a high gift and estate tax exemption amount and low estate tax rates, transferring wealth is becoming the focus of estate planning rather than reducing estate tax liability. And with...more