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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Client Alert

Estate Planning In The Digital Age

Pulling out the old family photo album when company comes over was once common practice. However, the growth and prominence of social media is making this tradition a bit passé. Once reserved to large, unwieldy books and VHS players, pictures and videos that elicit fond memories are now a smart phone or laptop away. The Tangibility Of The Intangible The digital world we live in goes beyond storage of photos, […]

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Client Alert

Estate Planning for Cryptocurrency Investors

Estate Planning for Cryptocurrency Holders Cryptocurrencies might be the way of the future. They could also require significant changes to your estate plan. Cryptocurrencies gained popularity in the past few years, especially with the rise of one of the most popular cryptocurrencies, Bitcoin. Cryptocurrencies are digital assets that do not require a centralized bank. Instead, they allow the transfer of funds electronically. Currently, one Bitcoin is equal to nearly $3,500 […]

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Client Alert

Do You Need an Asset Protection Plan if You Have Insurance?

While business insurance is important, it cannot protect you from all the risks associated with running a business. A business asset protection plan can help protect creditors from seizing your business and personal assets. Generally, insurance does not provide enough coverage for all business-related situations. It is important to determine what kind of legal structure you plan to use and what kind of assets you wish to protect in order […]

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Client Alert

Are Irrevocable Trusts Effective For Asset Protection?

Possessing significant assets often means thinking out of the box when it comes to protecting them. Like some, you may have considered executing an irrevocable living trust as a means of asset protection. However, irrevocable trusts do not make sense for everyone. Estate planning is unique for every individual and knowing your options for asset protection prior to moving forward is key. The Benefits Of Irrevocable Trusts Arguably the number […]

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