Updates

What is the Private Retirement Trust

The Private Retirement Plan

A retirement trust offers protection for your retirement funds and your beneficiaries. For many individuals, a significant portion of their assets are part of a retirement account to which they have made contributions throughout their working years. Unfortunately, all of these retirement savings could be lost to a lawsuit or a creditor. However, California offers its residents a way to protect their assets — The Private Retirement Plan. The Private […]

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Signs that You are Addicted to Money

You usually associate the word addiction with drugs, alcohol or gambling. But it’s possible to become addicted to money. When you start using money to deal with your problems or become dependent upon it to get your thrills, then you have a problem. At that point, it doesn’t take long for things to get out of control, and the consequences can be devastating. A money addiction is a type of […]

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Wealth advantages and disadvantages

The Disadvantages of Being Wealthy

The media and popular culture are always promoting all the advantages of being wealthy. But what they don’t show are some of the disadvantages of being wealthy. While these disadvantages are certainly not the same as those that come with being impoverished, nevertheless, having a large amount of money or coming into a big inheritance is not without its drawbacks. It’s certainly true that no one would choose to be […]

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If You Create a Revocable Living Trust, Do You Still Need a Will?

The answer is yes, you need a will even with a revocable living trust.  Your will and revocable living trust work in tandem with one another. A revocable living trust is a legal vehicle that provides lifetime as well as after-death management for assets and property.  It’s created during your lifetime and, as the trustor, you may change it at any time while you’re still living. The successor trustee whom […]

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Is an Offshore Trust the Same Thing as an Asset Protection Trust?

Is an Offshore Trust the Same Thing as an Asset Protection Trust?

Ours has become an increasingly litigious society. Therefore, it’s become increasingly important for wealthy individuals to take some type of action in order to protect their assets from unexpected lawsuits and the claims of creditors. Many financial experts offer asset protection trusts as the best legal vehicle for shielding valuable assets. Asset protection trusts allow creditors to reach a settlement with their respective debtors on more favorable terms, therefore avoiding […]

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How wealthy should you be before creating a trust

How Wealthy Should You Be Before Creating a Trust?

A common misconception held by many is that you have to be wealthy in order to establish a trust. So, you may not have considered setting up a trust as part of your estate planning solely based on the fact that you don’t have a net worth in the millions of dollars.  However, a trust can be a very useful tool when it comes to estate planning, especially if […]

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Here’s What to do if the Executor of an Estate is Suspected of Stealing

Here’s What to do if the Executor of an Estate is Suspected of Stealing

Acting as an executor is an important job. After a person dies, their executor will be performing a variety of legal functions, including selling property, paying creditors, bringing any lawsuits that need to be filed, and, if necessary, reviewing medical records and distributing assets to their named beneficiaries. When an executor for a will is selected, they agrees to act in the best interest of the estate and to follow […]

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How Comprehensive Estate Planning is Different From the Norm

Comprehensive Estate Planning vs Average Estate Planning

Estate planning is the process of designating who will receive your assets upon your death. In addition, estate planning also determines how your affairs will be conducted if you’re no longer able to make your own decisions.   Many people are under the misconception that estate planning is only for the wealthy, but everyone needs an estate plan.  If you don’t have an estate plan in place when you die, the […]

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How Does an Offshore Trust Really Work

How Does an Offshore Trust Really Work?

Many people looking for a way to protect their assets are asking, “what is an offshore trust and how does it work?” An offshore trust is a trust that a settlor establishes in a jurisdiction that is different from the one in which they live. An offshore trust can be located in any country as long as that jurisdiction recognizes the legal concept of a trust. But only a few […]

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Make Sure Nobody Steals Your Money

Make Sure Nobody Steals your Money

Estate planning goals for high-net-worth individuals (HNWI) should include protecting inheritances for their heirs, minimizing estate tax liability, and avoiding the probate process. Living trusts are commonly used by both attorneys and financial advisors as part of the estate planning process because they ensure that assets are distributed to the correct individuals and/or entities. Trusts also help minimize estate taxes by allowing you to remove assets from your estate so […]

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