While techniques and strategies abound for estate planning, motivation to act in this manner is harder to trigger. Many people fear volatility and uncertainty leading them to become decisive. Many others are put off still by a perception that they do not need estate planning, meaning that they skip out on the process altogether. Solutions [...]
When a Medicaid applicant has been approved and placed in a nursing facility, the community spouse's income may not figure into determining eligibility for that nursing care. But it is still important to understand the minimum monthly maintenance needs allowance. This can work the family funds in the opposite direction as the Medicaid agency will look [...]
A person given a one-third chance of survival in life is alerted to this fact. But in many cases a person whose business faces the same chances will prefer to deal with the matter later on down the road. The key in this situation is a balance between business Goals and family relationships as well [...]
Although there's plenty of talk about how you should prepare your assets for your death, it's also beneficial to think about handling your debts. If you have a will, the assets in your esatte will be handed over to the state for determining your next of kin. A living will gives you the opportunity to [...]
In the process of putting together a risk management plan, your attorney or other advisor might suggest using a captive insurance company for your business. Knowing what this is and how it can benefit you is a good place to start if you're not familiar with this concept. A captive insurance company refers to a [...]
Wealthy taxpayers who have incomes above a certain threshold should be aware of some basic tips for shifting incomes and minimizing the hit of taxes. One popular technique for addressing this concern is to gift assets to cousins, grandchildren, or other relatives. This is known as the gift tax exclusion, but in order to get [...]
It’s been said that the CEO succession process is broken in America. Although many situations call for a new generation of leaders to take the reins of a business, surprisingly few businesses have taken advantage of planning opportunities to do this. According to research from Harvard Business Review, half of companies with more than $500 [...]
The successful physician may find himself or herself suddenly catapulted into a whole new income bracket after years of education and training. With this new income bracket come some great opportunities, but also some risks. Read on to learn more about three of the biggest reasons why physicians should consider asset protection planning. High [...]
Although a revocable living trust is one of the most commonly recommended by an attorney when you are crafting your will or taking other estate planning steps, you need to carefully consider the own circumstances of your estate to determine whether it's truly the best fit for you. The primary purpose of a revocable living [...]
When a liability issue arises, action is often too late even if it's well-meaning. Early formation of an LLC or an asset protection trust in Nevada can be protective and can serve as a hindrance to creditors. Only an experienced asset protection planning attorney should help you put together an LLC or other structure out [...]
