Estate Planning ... Not Just For The Wealthy

You've worked hard, accumulated assets, and been diligent in saving for a comfortable retirement. Now it is important to implement a plan to protect those assets in the event something were to happen to you.

Enduring Power of Attorney Being Phased Out

From the first Monday in April next year, the Enduring Power of Attorney will be banished forever. Its replacement will be more complex to get and is likely to cost more.

The Australian Family Trust Explained

In Australia, a Family Trust (often called a discretionary trust) is set up to hold a family's assets or to conduct a family business. Generally, they are established for asset protection or tax purposes. Christopher Balmford from Cleardocs gives us an overview of how a family trust works and how to set one up.

Top Asset Protection Strategies

Contrary to popular beliefs, asset protection does not mean hiding assets, and is not a trick to evade authority. Asset protection also does not involve deceptive agreements or fraudulent transfers. It is simply smart and safe financial planning. It uses the cunning of business and tools of financial planning to safe guard your assets from being extracted by outsiders who do not have any right to or claim on your hard earned money.

Estate Planning Decisions: Choosing Trusts - Wills and Lawyers

It is essential to be an informed consumer when buying estate planning services. In doing so, you will be in the best position to make essential decisions in protecting your wealth and family.

Financial & Estate Planning For the Dual Income Family

In today's world, it is more common than ever to find dual income households. Recent estimates by the Department of Labor find that women comprise around 47 percent of the American workforce. Compare this percentage to 1960 accounts estimating women in the workplace at around 33 percent. Because of the proliferation of working women, special planning is necessary to properly address the issues faced by households where both spouses work.

Estate Planning in Light of a Remarriage - Ensuring the Care of Your Children

The staggering amount of divorces that occur in today’s society is all too well known. Depending upon the circumstances that lead to the break-up of any marriage, one may think that getting into another such arrangement would be out of the question. However, this is not always the case. In fact, the Stepfamily Association of America reports that about 43% of all marriages are remarriages for at least one of the adults, and of these, about 65% involve children from a prior marriage.

Choosing the Right Trustee

The success of a trust to accomplish estate planning goals depends on how well the trust is managed. That success depends on the abilities of the person (or institution) named as the trustee. You'll want to choose this trustee very carefully, as he or she must weat many hats.

The Inheritor's Trust

The Inheritor's Trust is a way for a child with a substantial estate to save estate taxes and obtain some protection against creditors, lawsuits, etc. This article discusses this new concept.

How the Rich Hide Their Assets

How rich hide their assets. The Rich diversify assets. Hide assets w/ independent trustees, irrevocable trusts, foreign LLC, International Business Company, Corporations Chapter C or Subchapter S Corporations.

Revocable Trust (Revocable Living Trust) vs. Irrevocable Trusts

Explain major differences between revocable vs. irrevocable trusts. About the benefits of a revocable trust (revocable living trust) vs. benefits of an irrevocable trust.

Asset protection with Joint Tenancy, Tenancy in Common, Tenancy in Entirety & Community Property

Protecting assets by Joint Tenancy, Tenants in Common, Tenancy in Entirety or Community Property have many disadvantages. Loss of step-up in basis upon the death of the first Tenant; loss of estate tax protection; possible exposure of the assets; Joint Tenancy disinherits all other heirs; possibility of a gift tax consequence; Joint Tenancy supersedes any trust with the loss of all trust benefits.

What Is Good Asset Protection? Part 2

Part 2: Steps to good asset protection and wealth preservation. Know these facts of asset protection. Discusses what assets to protect and consider, domestic asset protection and foreign or offshore asset protection strategies and platforms. From Grantor Trust and Non-Grantor Trust to Foreign Asset Protection Trust (FAPT) and International Business Company (IBC). How to avoid fraudulent conveyance?