We answer many of the same questions when we speak with clients, so we know what people are curious about. In this post, we will answer some frequently asked questions about asset protection. If you bookmark LLC) can be the ideal asset protection structure for some businesses. If you establish a limited liability company, you … [Read More]
Asset Protection and Succession Solutions for Small Business Owners
If you are operating a small business as a sole proprietor, you may feel as though it is the simplest way to proceed. You can claim profits and losses on your personal income tax returns, so you have a turnkey situation. All this is well and good until you are hit with a business-related lawsuit. … [Read More]
Planning Considerations for Small Business Owners
When you are the owner of a small business, your long-term planning goals will coincide with those of people that are not self-employed. Many of the same steps should be taken, but business owners have some additional considerations, and we will look at two of them here. Asset Protection It is important to protect the … [Read More]
Asset Protection: Secure Your Family’s Future
You may be laser focused when it comes to the accumulation of resources, but you should be just as concerned about protecting your assets. In this post, we will look at asset protection from a few different angles. Small Business Asset Protection If you are the owner of a small business, you can be held … [Read More]
Protect Your Assets With a Family Limited Partnership
Asset protection is important for some professionals, business people, and investors. A family limited partnership (FLP) can be the ideal solution, and we will provide the details here. Basic Structure There is nothing deceiving about the name of this asset protection structure. The members of an FLP must all be in the same family. If … [Read More]
Asset Protection and Business Succession Planning
If you are going into business for yourself, you have to make some choices. Asset protection should be taken into consideration, and from a retirement and estate planning perspective, you should have a succession plan. Let’s look at the most commonly used asset protection structures, and we will then move on to the second part … [Read More]
The 2020 Lifetime Exemption
Creating a successful estate plan requires you to do more than just decide how your estate assets are to be distributed after you are gone. In order to ensure that you have assets left to distribute, your estate plan should also help grow your assets during your lifetime and protect them after you are gone. … [Read More]
Are Your Assets at Risk?
If you already have an estate plan in place, or you are planning to create one in the near future, a primary motive for that plan is likely to protect and provide for loved ones after you are gone. To accomplish that goal, however, you must protect the assets you have while you are here. … [Read More]
5 Key Asset Protection Strategies
Making smart use of asset protection strategies is important at all phases of your wealth-building process. When you work hard, you deserve to benefit from the fruits of your labor and to enjoy financial security. You cannot do this if your wealth is lost due to things like creditor claims, lawsuits, high nursing home bills, … [Read More]
How Does an Asset Protection Trust Work?
An asset protection trust is a generic term used to describe different kinds of trusts that provide different protections for your personal wealth. An asset protection trust can keep your assets safe in lots of different ways, depending upon the kind of trust that you create. The type of trust you create is going to … [Read More]
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