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.
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.
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.
Homes are illiquid assets that produce no income and come with ongoing costs for upkeep. Those issues can cause some snags with your trust.
There are two main kinds of trusts: revocable and irrevocable.
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