Are you a farming family? Or do you have a financial interest in land or mineral rights? We're hosting a FREE seminar to help you understand the unique challenges you face when dealing with asset protection and success planning... And we'd love for you to attend. Just click HERE to choose the best date and location for you. See you there! … [Read more...] about Asset Protection and Planning for Farming Families
Free Estate Planning Reports
Are you concerned that your family wealth could fall into the hands of outsiders after your death? Have you considered the financial impact of your child getting divorced or passing away after they have inherited your estate? If a creditor sues your child’s spouse, can they get their hands on your child’s inheritance? Unless your estate plan specifically protects your children from these hazards, the answer is an unfortunate “yes”. Fortunately, we typically incorporate … [Read more...] about Keeping It All In The Family
Creating wealth can be a challenging task, but the work is not done when you have achieved your financial objectives. You must then take steps to protect your family wealth. There are certain trusts that can be utilized to preserve your wealth, and there are others that are not suitable for wealth preservation purposes. … [Read more...] about Can a Trust Protect Family Wealth?
In a recent case in Virginia, a mother transferred her money to her daughter without reservation. Some years later, the daughter filed for bankruptcy and the bankruptcy trustee went after mom’s money as well. Mom claimed the money was really hers and that she only put it in her daughter’s name to “qualify for Medicaid.” The Judge wasn’t impressed by her claim that while the documents said one thing, they really meant something else altogether. The Court found mom's … [Read more...] about Tricking the Courts Isn’t A Good Strategy
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 single biggest problem in communication is the illusion that it has taken place” – George Bernard Shaw Most of us guys can relate to the quote above, especially when it comes to remembering to buy milk on our way home or making a reservation for our anniversary dinner. However, it also describes the difficulty many people have when it comes to discussing their estate plans with family members, especially when it comes to money. A recent Fidelity Investments survey found … [Read more...] about Communication is the Key
Just a reminder, we're hosting a free seminar next Tuesday afternoon where you can learn how to avoid some of the most costly mistakes families make in their estate plans. This is a great opportunity to make sure your family and your assets are properly protected. The event begins at 2pm on Tuesday, April 22, at the Marriott in Overland Park. Click here for more details and to reserve your free seat. … [Read more...] about Free Seminar: The Costly Mistakes Families Make With Their Estate Plan
There are a lot of reasons businesses fail, but there is one major reason that most business owners rarely think about and even more rarely plan for. Join Parman & Easterday attorneys Blaine Peterson and Jerry Shiles as they discuss this top killer of businesses and the 7 keys to avoiding it. To Learn More About Smartly Protecting Your Business and Family In The Long-Run, Claim Your FREE Report by copying and pasting this URL into your browser: … [Read more...] about Discover A Top Business Killer Rarely Thought About and the 7 Keys To Avoiding It
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?
In September of 2011, the Oregon Court of Appeals pointed out the types of problems that can occur when a parent entrusts funds to a child without any controls in place. Claryce El-Tobgy inherited some $500,000.00 from her husband. She moved in with her son Sami and his then-wife Mona El-Tobgy. Claryce entrusted Sami with her money, which he transferred to a joint bank account in his and her names. Then he moved $250,000.00 from this account to an investment account in his … [Read more...] about Beware of Fraudulent Transfers