When devising a comprehensive long-term financial plan, it is important to take steps to protect your assets. Individuals in certain professions are naturally vulnerable to creditors and claimants and, if you do not take action to shield your personal resources, the consequences can be devastating. … [Read more...] about Are Your Assets In Harm’s Way?
Estate Planning Consultation
Now that spring is here, my wife frequently reminds me to keep an umbrella handy in case of an inevitable rain emergency. I usually follow her advice by tossing an umbrella in the backseat of my car and rest assured knowing I can reach it if I get caught in an unexpected downpour. However, another “umbrella” can protect you from much more than merely getting wet. An umbrella liability insurance policy is an important part of many estate and asset protection plans as it provides … [Read more...] about Remember Your Umbrella
The ideal estate plan is going to vary depending on the circumstances. One of the primary considerations will be the extent of the assets that you have to pass on to your loved ones. If your resources are relatively modest you are going to want to engage in traditional estate planning. This is going to involve preparing for the possibility of incapacity while you arrange for the future distribution of your financial assets to your heirs. … [Read more...] about The Differences Between Traditional Estate Planning & Legacy Wealth Planning
In the field of estate planning there is a commonly utilized type of trust called a revocable living trust. Sometimes people who are not familiar with these legal devices will make sweeping assumptions. You may hear that revocable living trusts do not provide asset protection. As a result, you may come away with the idea that trusts in general do not protect assets. We would like to look at the matter of trusts and asset protection this post. Revocable Living Trusts Revocable living … [Read more...] about Is There Any Type of Trust That Provides Asset Protection?
Many times families we meet with for the first time tell us they thought their Revocable Trusts somehow protected all their assets against lawsuits or Medicaid recovery. There is usually an uncomfortable silence after I tell them their revocable trust is their alter ego and offers no asset protection whatsoever. Generally only “Irrevocable Trusts” offer asset protection. You can establish irrevocable life insurance trusts, Medicaid pre-qualification trusts, irrevocable family … [Read more...] about Asset Protection Through A Revocable Trust
FDIC Insurance can cover you with the right planning. This report informs the reader of what FDIC actually is and explains the basic coverage FDIC offers. The report focuses on how to maximize your FDIC coverage, with the right planning. Any concerns the reader might feel regarding the safety of their bank accounts, due to the large prediction of bank failures, are addressed. Click here to grab your free report! … [Read more...] about Free Report! Are Your Bank Accounts Safe?
When you have accomplished your financial goals and you are in possession of a considerable store of monetary resources you may want to consider asset protection strategies. We live in a litigious society, and divorce is very common as well. In light of these factors you may want to position your assets in an intelligent, measured fashion. … [Read more...] about Free Report on Asset Protection Available
Laws in different states vary, and sometimes you can take advantage of favorable statutes by establishing legal instruments in a particular state. When it comes to asset protection and estate tax efficiency Alaska is a popular choice. … [Read more...] about Irrevocable Self-Settled Trusts Legal in Alaska
If you are interested in asset protection, your home, and perhaps your vacation home, will be part of the equation. Should you be interested in a way to create a shield that protects your property from claimants you may want to consider placing your home into a qualified personal residence trust (“QRPT”). … [Read more...] about Shielding Your Domicile From Claimants With The Help Of An Oklahoma City Estate Planning Attorney
It's beneficial to be aware of the threats that exist when you are arranging for the transfer of assets to your loved ones after your passing. One of these would be the estate tax; another would be the costs associated with probate. Both should taken into consideration. There are ways that your estate planning attorney can navigate around these potential sources of asset erosion, and this is why legal representation is key. … [Read more...] about Asset Protection: Your Attorney Can Help