Especially if you own a business or commercial property, asset protection can be a big concern for you. The possibility of legal claims and constant existence of creditors make it even more important to have an asset protection plan so that you don't run the risk of losing everything through some unexpected turn of events. There are different ways to legally protect your assets, including irrevocable trusts. Not every type of trust can accomplish proper asset protection. Let your asset … [Read more...] about Sacramento Asset Protection Attorney on Best Strategies
Asset Protection Planning
Five Issues to Consider with Domestic Asset Protection Trusts
Domestic Asset Protection Trusts protect assets from creditors, are seen by some as a better alternative than certain business entities that have a similar purpose. A Domestic Asset Protection Trust (DAPT) is a special type of irrevocable trust. It allows the grantor to also be a discretionary beneficiary of the trust, while still providing important asset protection from creditors. A Domestic Asset Protection Trust may come with certain benefits, but some asset protection attorneys recommend … [Read more...] about Five Issues to Consider with Domestic Asset Protection Trusts
Recent Loss of Music Venues in Sacramento Reminds of Need for Asset Protection
According to news reports, Sacramento has lost two very popular music venues in only a week’s time. These losses have left a gaping hole in Sacramento’s independent music scene. First, the Starlite Lounge, located on 21st Street hosted its final show on June 25, 2017. The Naked Lounge coffee shop, a smaller venue located downtown, hosted its final show on June 30, 2017. The closing of these two venues should remind all business owners of the need for asset protection planning. Struggling … [Read more...] about Recent Loss of Music Venues in Sacramento Reminds of Need for Asset Protection
Let an Asset Protection Lawyer Show you How to Protect your Assets
Asset protection can be big concern for you, especially if you own a business or commercial property. The possibility of legal claims and constant existence of creditors make it even more important to have an asset protection plan so that you don't run the risk of losing everything through some unexpected turn of events. There are different ways to legally protect your assets, including irrevocable trusts. Not every type of trust can accomplish proper asset protection. Let your asset … [Read more...] about Let an Asset Protection Lawyer Show you How to Protect your Assets
Asset Protection Planning: Should You Be Worried?
Common goals of many folks is to build up their estate assets so that they can live comfortably during the Golden Years and – hopefully — have a nest egg left to pass down to their children, grandchildren, and/or other loved ones. These goals could be threatened, however, if the hard earned assets are put at risk – and they could be at risk without you even realizing it. The best way to protect your assets, your future, and your loved ones is to include asset protection planning as a component … [Read more...] about Asset Protection Planning: Should You Be Worried?
Is there a California Inheritance Tax?
Receiving an inheritance may be exciting for some, but stressful for others. There are many questions that arise when individuals get word that they are about to inherit from a loved one. The most common question is: will I have to pay an inheritance tax? Luckily, if you live in California, there is no California inheritance tax, but that is not true in every state. Here is what you need to know: What is inheritance tax? An inheritance tax, as the name implies, is a tax imposed by the … [Read more...] about Is there a California Inheritance Tax?
Nursing Home Planning: Are your Parents Prepared?
Nursing home care can be very expensive. Many private health insurance policies don't cover these long-term care services. For California residents who need long-term care, Medi-Cal is the most common source of funding. In fact, Medi-Cal covers nursing home care expenses of nearly 65% of Californians residing in nursing homes. However, applying for and receiving assistance from Medi-Cal takes planning. Getting your parents prepared for the potential need for long-term health care, nursing home … [Read more...] about Nursing Home Planning: Are your Parents Prepared?
Why Irrevocable Trusts Protect Assets
Especially if you own a business or commercial property, asset protection can be a big concern for you. The possibility of legal claims and constant existence of creditors make it even more important to have an asset protection plan so that you don't run the risk of losing everything through some unexpected turn of events. There are different ways to legally protect your assets, including irrevocable trusts. Not every type of trust can accomplish proper asset protection. Here is why … [Read more...] about Why Irrevocable Trusts Protect Assets
How Can a Business Owner Protect Assets in Northern California
How Can a Business Owner Protect Assets in Northern California from Timothy Murphy As the general partner, you would have sole decision-making authority. Family members that you add to the partnership would be silent limited partners. Learn more about business owner protect assets in Northern California in this presentation. … [Read more...] about How Can a Business Owner Protect Assets in Northern California
Asset Protection: Consider a Family Limited Partnership
When you are devising a financial plan as a business owner, you should take asset protection into consideration. There are litigious types out there who look for successful targets, and you have to be proactive if you want to make sure that your assets are protected from legal actions. With the above in mind, we will look at family limited partnerships in this blog post. Asset Protection for Business Owners While anyone can be sued, certain people who are involved in businesses may be … [Read more...] about Asset Protection: Consider a Family Limited Partnership
