Whom should you name as the beneficiary of your IRA or Qualified Plan? Sometimes, it can be best to name a trust for your intended beneficiary. Read on to see the protections a trust can offer that a direct designation of the individual would not. Naming a Trust as Beneficiary of an IRA … [Read more...]
Estate Planning is About More Than Taxes
Estate Planning addresses many concerns, not just taxes. It can protect beneficiaries from their own creditors, provide divorce and remarriage protection, and protect the benefits of children with special needs. Learn more about how Estate Planning can help protect your beneficiaries by providing privacy and other benefits. Estate Planning is About More Than Taxes … [Read more...]
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article looks at a couple with three very different children and how they might leave the assets for them in three very different ways. 6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...]
Planning for Retirement Plans and IRAs: Asset Protection
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the asset protection of such plans and how a trust may be used to provide asset protection. Planning for Retirement Plans and IRAs: Asset Protection … [Read more...]
What Is An Alaska Trust?
When you place assets into a trust such as a revocable living trust you can act as both the trustee and the beneficiary if you choose to do so. Because you have control of the funds creditors could possibly seek to attach resources placed into the trust, so these vehicles do not provide any asset protection. In light of the above, is it in any way possible to benefit personally from resources placed into a trust while enjoying asset protection? The answer is yes. This can be done through the … [Read more...]
QPRT For Asset Protection
Making sure that your assets are out of harm's way is something to take seriously when you are making preparations for the future. A single instance of inaction where action was required could have disastrous results. This is why it is so important to go forward with the benefit of expert guidance when you are situating your assets, especially if you are in a field that leaves you open to legal actions. With the above having been stated one legal instrument that can be utilized to provide you … [Read more...]
LLC Can Be A Viable Option
Engaging in business ventures can be a good idea, but of course there are inherent risks that go along with the territory. When you decide to embark on a business enterprise you have to consider the type of entity that you're going to use. Asset protection is a concern for most people, and making a clear distinction between your own personal assets and those of the business is something to take seriously. A lot of people do this by creating a limited liability company or LLC. You may be aware … [Read more...]
Position Your Resources Properly
You must use foresight when you are engaged in long-term financial planning and make sure that all of your resources are properly positioned. Asset protection is a key component, and it is especially important for people in certain occupations. Physicians and those who invest in real estate are among them because they are particularly vulnerable to claimants and creditors. This is a situation to be proactive about because attempting to "close the barn door after the horses are gone" is not a … [Read more...]
Protecting an Heir With Personal Problems
Estate planning is not a generic cookie cutter endeavor because not everyone is a perfect person. There are those who tend to experience complications throughout their lives and you may have such an individual in your family. Leaving behind a large inheritance to someone who tends to run into more than his or her share of personal problems can be disconcerting. Individuals such as these probably need the financial underpinning that an inheritance will provide more than family members that you … [Read more...]
How Do You Protect Assets?
There are various different objectives that you may have when you are planning your estate. The exact way that you ultimately proceed is going to depend on the specific nature of your circumstances. With this in mind, some people are concerned about asset protection. You want to be sure that the assets that you have accumulated remain in your possession for your own well-being. Since we are talking about estate planning, it is also important to protect inheritances that you intend to leave to … [Read more...]
