If you read yesterday’s post, you’ll know that wills and living trusts each accomplish three goals, but they are not one and the same. Neither document is likely to be a comprehensive solution for all your needs, so you’ll need to consider what time period you are planning for.  If you are looking simply to […]

Anytime you hit the Internet to do some kind of research, you’re likely involved in thinking about the situation at hand, how a product or service will fit into your own life, and any unintended consequences that might pop up during the way. Just as choosing a new car or new home involves the careful […]

You’ve heard it before and we’ll say it again: money doesn’t grow on trees. You’ve earned those assets with years of hard work, and you’ve also earned the right to leave them, upon your passing, as you choose. Proactive asset planning, such as creating an inheritance trust, is the only way to ensure that your […]

It’s very popular for business owners to operate under the structure of an S corporation. This allows business owners to generally avoid “double taxation” that could impact owners of C corporations. Operating as an S corp may help a business owner avoid self-employment taxes typically affecting LLCs that choose to be taxed as partnerships.  Even […]

With increasing longevity and awareness surrounding elder care issues, more people are seeking out options to plan for long-term care. In the event that you or a loved one needs long term care assistance, there are four primary ways for which that case can be paid for:  Self-pay. This involves the spending of personal assets […]

Self-settled asset protection trusts get more buzz these days, but they weren’t even recognized in the United States until the latter part of the 1990s. Before this time, putting together a self-settled trust required establishment outside U.S. borders. In 1997, though, Alaska recognized self-settled trusts and Delaware followed. Currently, self-settled trusts are not a nationwide […]

One of the most popular approaches to estate planning has to do with safeguarding assets against possible losses. Asset protection trusts are one common way to protect property for you and your beneficiaries.  Asset protection trusts refer to irrevocable trust structures in which a trustee holds property and distributes it out under his or her […]

A fair amount of taxpayers are familiar with at least the basics behind gifts and taxes, but it’s important to understand your obligations when making taxable gifts to others to ensure your compliance with the Internal Revenue Code. If you make a taxable gift to someone else, a gift tax return needs to be filed. […]

One of the most important parts of your lifetime estate planning has to do with a power of attorney. This document gives one or more individuals the authority to act on your behalf as your official “agent”. You can give this individual narrow powers or you can give them broad discretion over acting in your […]

Elder law refers to a practice that is devoted to the needs of older clients. Elder law attorneys have specialized knowledge about long-term care planning, advance health care directives, powers of attorney, probate and trusts, guardianships, and asset protection. While many elder law clients turn to an attorney in the midst of an elder care […]