Appointing A Financially Literate Executor

Choosing and appointing a financially literate executor is an important consideration when writing your will. He gives you and your beneficiaries peace of mind and the assurance of compensation to his customers.

Powers Of Attorney Vs. Successor Trustees - Does One Have More Power Than The Other

Question: I am listed as the Successor trustee, my bother is listed as the Durable Power of Attorney for property management of my father's estate. Does one have more power than the other. Does the POA have the power to sell my dad's property or do I the successor? Thanks ahead of time - really confused. N.H.

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.

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.

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.

Estate Planning and Trusts

What are estate planning and trusts? What are the differences between federal death (estate) taxes and state probate and death taxes? Explains the relationships of property, insurance, pensions and IRAs and estate taxes.

Living Revocable Trust

What are the differences of a revocable trust (living trust or revocable living trust) and irrevocable trusts? Explains what's a trust, grantor, beneficiary, fiduciary responsibility of a trustee, accountability of the trustee and additional safeguards of assets.

Asset Protection-Joint Tenancy and Intentionally Defective Irrevocable Grantor Type Trust

Why Joint Tenancy is bad advice from lawyers? Why Joint Tenancy has no Asset Protection? The alternative is Intentionally Defective Irrevocable Grantor Type Trust.

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?

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?

Nevis LLC (Foreign LLC) Protects Assets and Avoids Fraudulent Conveyance

How the Nevis Limited Liability Company, a Foreign LLC, can protect one's assets and still avoid fraudulent conveyance if the member's interest remains proportionate to the contributed capital. Creditor can issue charge order against the Nevis LLC. Mentions how Foreign Limited Liability Company and International Business Company (IBC) are used for asset protection and tax haven by Michael Jackson. Defines bearer shares.

Your Estate Planning Attorney Is Ripping You Off - By Doing His Job!

How your estate planning attorney is accidentally ripping you off! How to save a lot of money on attorney consultations fees.

Trustee of a Trust

What is the trustee of a trust? What is the accountability of a trustee and the fiduciary relationship to the beneficiaries? How does the trustee relate to an irrevocable trust? What's a trust protector?

How the Advanced HealthCare Directive Makes Life-Saving Decisions

What is an Advanced Medical Directive in controlling your medical care? The Advanced Medical Directive is a legal written instrument to consent or refuse any medical treatment, make decisions not to resuscitate, select healthcare providers, apply for Medicaid, appoint an Agent to be guardian, provide for disposition of body and funeral arrangements.