Putting Cryptocurrency in your Family Trust

Putting Cryptocurrency in Your Family Trust

Bitcoin and other assets supported by blockchain technology are part of a rapidly growing area of interest for folks looking for new ways to invest their wealth. If you own cryptocurrency, it’s particularly important to include it in your estate planning because it’s not a discoverable asset, like real estate holdings or mutual funds. Dying without explicit instructions regarding the fact that you own cryptocurrency, or without providing the private […]

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Protect Crypto Investment With Estate Planning

Protect Crypto Investment With Estate Planning

Nowadays, an increasing number of individuals are investing in Bitcoin, NFTs (non-fungible tokens), and blockchain tokens. Many have profited substantially from their crypto investments. Yet while crypto-assets may hold enormous family wealth, they also pose complex issues in terms of safeguarding, transferring, preserving, and distributing that wealth. The advantages of protecting assets with estate planning are well known, and cryptocurrency is a valuable asset. As with any other asset, it […]

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Offshore Bank Account Attorney

Offshore Bank Account Attorney

Offshore banking is a popular choice for individuals who are accumulated significant assets. Keeping these funds  in countries such as the Cayman Islands, Switzerland, or the British Virgin Islands can provide more protection than the U.S. domestic banking system. This is due to the more favorable tax laws in these jurisdictions. There are additional reasons for offshore banking in specific countries as they often offer better business environments, beneficial legal […]

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Proactive Strategies for HNWI with Rising Tax Rates on The Horizon

Proactive Strategies for HNWI with Rising Tax Rates on The Horizon

In May of 2021, the U.S. Treasury released, “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals.” Also known as the “Green Book,” this document provides a detailed account of the Biden Administration’s proposed tax changes beginning in 2022. With regard to tax planning for HNWI (High Net Worth Individuals), the proposal includes plans to tax the wealthy at higher rates beginning either January 2022 or possibly retroactively to […]

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Estate Planning Before the 2024 Election

Estate Planning Before Elections

Every four years the lead-up to the presidential election ignites serious discussion about potential changes to estate planning laws. Presidential politics are generally quite different between the two major parties, and once in office, both are eager to implement laws that reflect the ideological differences between them. This is aptly demonstrated by the party’s approach to protecting and passing down wealth. Traditionally, Republican candidates advocate financial policies that favor issues […]

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Let's talk asset protection strategies

Let’s Talk Asset Protection Strategies

Through hard work, smart budgeting, and savvy investing, you have been accumulating wealth with the goal of becoming financially independent. You can relax now, right? Actually, the next step is likely the most crucial one you will take, because the better off you become, the more devastating a lawsuit can be to your future. Protecting your wealth is as important as the steps you take to build it.  As your […]

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What an asset protection advisor can do for you

What an Asset Protection Advisor Can Do for You

Asset protection is an important aspect of wealth management as it protects your wealth from a legal claim or threat of a claim. This is not to say that legitimate lawsuits cannot be brought against you; asset protection protects you from those that are nefarious in nature or that would cause catastrophic loss. Lawsuit protection is a fact of life for anyone who may be targeted due to their “deep […]

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How do the ultrawealthy spend their free time?

How Do the Ultra Wealthy Spend Their Free Time?

We are all familiar with the old adage, “money can’t buy you happiness,” but there is a common misperception that the ultra wealthy are satisfied spending their lives making and counting their millions. This couldn’t be further from the truth. A recent study published by Wealth-X examined the interests, passions, and hobbies that highnet-worth individuals (HNWI) enjoyed most when they were not busy working. The study revealed that though there […]

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Big Changes to Trust Taxation Part II

Part II – Big Changes to Trust Taxation Could be Coming. Are You Prepared?

Dear Clients, Colleagues and Friends, A number of our readers contacted us to ask what ideas we had to combat this potential change. Here is one potential planning tip that allows you to have your cake and eat it too: With the possibility that the exemption will be reduced during the 2021 year and that it can be effective as of January 1, 2021, some tax practitioners are recommending that the trust receiving the $11,700,000 gift in early 2021 disclaim […]

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How to Handle Frivolous Lawsuits

A frivolous lawsuit is one in that has no legal merit and, therefore, has no chance of actually succeeding.  A frivolous lawsuit is often filed with the intention of harassing, annoying, or disturbing the other party in question. In some cases, the lawsuit is filed to limit the collection and/or foreclosure proceedings on an outstanding debt as a possible strategy to settle the case for less. Litigious people will threaten […]

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