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 [...]
When confronted with what to do for business succession planning, a business owner might consider multiple options including passing the business on to other family members, selling the business to stakeholders currently working in the business or even selling the business to an outside individual. Scenarios such as sudden disability or death of a business [...]
First defined in 1968, ageism refers to the systematic stereotyping of and discrimination against individuals as a result of their age. Social scientists argue that we first look at new people through the prisms of gender, race and age. While gender and race are politically sensitive, perception of age will often serve to present as [...]
Recently European succession regulation went into effect for all members of the European Union except Denmark, the United Kingdom and Ireland. One important regulation for those considering estate planning abroad is that a person's habitual residence at the time of their death determines the law which applies to estate determinations. In essence, this means that US [...]
A second marriage can raise many questions about who gets what, whether these people should get property, and will feelings be hurt? Each spouse should allot 30 minutes to spend time listing assets and discussing the potential future of these assets. Each member of the couple should also consider carefully what happens if the other [...]
