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Estate Plan Trusts
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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.
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When Parent and Child Reverse Roles
When we start off in life, our parents provide love and nurturing, as well as the necessities of daily life. As time passes, we grow into adulthood. Our relationship with our parents becomes one of equals, with each providing love and nurturing for the other, while both are self-sufficient. Often, parents reach a stage in their lives when they are no longer self-sufficient, typically due to advanced age or illness.
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Why a Will is Not Enough to Save Anna Nicole Smith's Baby Daughter?
The assignment of choosing a guardian for your minor children is the most important aspect of having a will. A will also assigns an executor. A will doesn't protect your assets nor avoid the probate. A trust - revocable or irrevocable - needs to be considered. What's the distinction between a revocable trust and irrevocable trust?
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What Would Happen If You Got Sued? Can't Happen To You? Think Again! You Need Asset Protection
Sadly this could happen to you: The doorbell rings and a courier arrives with a package for you to sign. What could it be? A gift from someone? You sign and open the box to find you have been served. The mailman tripped and hit his head which led to a stroke. His family is now suing you for 18 million dollars. Your home insurance policy only covers personal injury up to 7 million. Your in big trouble. What started out as a great day has now become the beginning of a nightmare. Your assets including your home are at risk.
Sadly this coiuld havppen to you. It happens thousands of times each day! Courts are filled with these types of cases every day. I personally know the head of a large law firm that only handles these type of cases. Its a big business.
Now here's the kicker: These lawyers work on comission. The party filing the lawsuit pays nothing and the lawyers are like hungry dogs. Nipping and knawing at you. Dragging you into court for this and that. All the time you have to pay a lawyer ungodly sums of money to just defend yourself. The nightmare doesn't seem to end. Then when they have you sweating they start the settlement proceedings. All the time you are paying your lawyer. If if you win, you loose! Do you risk loosing everything or do you settle?
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Estate Planning and the Enduring Power Of Attorney - Changes Imminent
It can be hard to imagine that you may not be able to look after yourself at some point in the future. As most of us are only too aware though, the chances of this situation arising is likely. But who will look after your financial affairs? And how will it all work, especially if your situation deteriorates quickly? Let's look at the options available to you-
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Inheritance Tax Saving Wills - Not Just For The Very Rich!
Inheritance Tax is a subject which most people think of very infrequently if at all. The attitude is normally that it won't apply to me - it's just something for rich people to worry about - or that I'll be dead so it won't worry me anyway. The fact is people don't like thinking about death at all, let alone any financial consequences!
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Estate - Clearing Up Estate Document Confusion
Few topics confuse investors more than figuring out what estate-related documents they need. Living Wills, Living Trusts, and Powers of Attorney are just a few of the terms that most find hard to define, let alone understand.
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Estate - To Trust Or Not To Trust That Is The Question!
Living Trusts have become very popular and are being heavily promoted to seniors. Should you Trust or not Trust? That is the question. Read on to learn some simple guidelines that will help you know whether a Living Trust may be right for you and how to go about getting one if needed.
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Estate - Will You Lose Your Home To Medicaid?
The largest financial risk that seniors face today is the potential of assisted living and nursing home costs to devour the nest egg that has taken a lifetime to build. Many will end up relying on Medicaid to pay these costs. If that's the case for you, chances are that Medicaid will come after your home when you die.
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