Asset protection planning is the process of building barriers around your assets, whether those assets are personal or business, to keep them safe from litigation, creditor claims, seizure and burdensome taxes.
Before approaching the subject of the will, you need to consider that the loved one may be guarded and resistant to talk about it.
Here are four types of estate situations that could call for professional legal help.
A spendthrift trust allows you to leave funds to a beneficiary without giving them full control over those funds.
Of course, just because you have a living trust doesn’t mean you’re all set. Here are a few of the most common mistakes people make with their living trusts.
What will happen to your assets when you can no longer manage them?
Signing a prenup doesn’t indicate that you don’t have faith in your marriage, just like buying car insurance doesn’t mean you expect to get in a crash.
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
Most people don’t know the first thing about the Secure Act and yet it has great impact on their retirement planning.
A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries. It can also significantly reduce the headaches of probate. However, while some assets belong in a trust, others cannot (or should not) go into one.
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