Each of us will die eventually. This article looks at how planning can make your passing easier for your loved ones. Specifically, this article by my friend and colleague Steve Hartnett, an estate planning expert, will look at the importance of the manner in which assets are left for your loved ones. Your Planning Can Help Your Loved Ones … [Read more...]
Domestic Asset Protection Trusts
Domestic Asset Protection Trusts are spreading to more jurisdictions. However, their protections may be waning. Read the following blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about Domestic Asset Protection Trusts. Domestic Asset Protection Trusts … [Read more...]
13 Disturbing Estate Planning Problems
Each of these 13 disturbing estate planning facts is true; but, each situation can be avoided with a strong, individualized, comprehensive, and up-to-date estate plan. If you don’t name a guardian in your will, your minor children could end up with persons you either don't like or don't know. If you don’t provide for your pet in your estate plan, your pet may be euthanized when you die. If you put assets in joint tenancy with a second spouse, your children may be disinherited. If … [Read more...]
Estate Planning is About More Tan Taxes
Estate Planning addresses many concerns, not just taxes. It can protect beneficiaries from their own creditors, provide divorce and remarriage protection, and protect the benefits of children with special needs. In this post by my friend and colleague Steve Hartnett, an estate planning expert, you can learn more about how Estate Planning can help protect your beneficiaries by providing privacy and other benefits. Estate Planning is About More Tan Taxes … [Read more...]
Naming a Trust as Beneficiary of an IRA
Whom should you name as the beneficiary of your IRA or Qualified Plan? Sometimes, it can be best to name a trust for your intended beneficiary. Read this post by my friend and colleague Steve Hartnett, an estate planning expert, to see the protections a trust can offer that a direct designation of the individual would not. Naming a Trust as Beneficiary of an IRA … [Read more...]
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article, by my friend and colleague Steve Hartnett, an estate planning expert, looks at a couple with three very different children and how they might leave the assets for them in three very different ways. 6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...]
Planning for Retirement Plans and IRAs: Asset Protection
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article by my friend and colleague Steve Hartnett, an estate planning expert, will discuss the asset protection of such plans and how a trust may be used to provide asset protection. Planning for Retirement Plans and IRAs: Asset Protection … [Read more...]
What Can I Do to Avoid California Inheritance Tax?
Receiving an inheritance can be good news, but not necessarily for everyone. 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 Sacramento, 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...]
Things to Know about a Roth IRA
When it comes to retirement planning, it is never too late to start. The truth is, you be able to safely rely on your Social Security benefits. Instead, you should be proactive and create your comprehensive retirement plan now. That way, you can relax and enjoy your retirement the way you always hoped you would. One easy way to get started is by opening Individual Retirement Accounts which can help you start saving and investing in your future. One valuable type of IRA is a Roth IRA. Here … [Read more...]
Can I use my Irrevocable Trust to Protect my Property?
Asset protection can be big concern for some, especially those who own a business or commercial property. The potential for 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 an irrevocable trust. Not every type of trust can accomplish proper asset protection. Here is why … [Read more...]
