Family businesses account for much of this country’s domestic product and are essential to the American Dream. Whether it is a century-old international automobile manufacturer or a group of local dry-cleaners, family involvement in the business is a common goal. Like anything worth keeping, it takes work to preserve.
Posts Categorized: Asset Preservation
Michael Pirron called John Hancock to ask about the care options covered by his parents’ long term care insurance policies. Their answer was, essentially, “What policies?” The policies had lapsed eight months earlier, and it was too late to send in the past due amount and get them reinstated.
Could you be legally liable for paying for your parents’ care?
Millions of Americans are managing money or property for a loved one who is unable to pay bills or make financial decisions. This can be overwhelming. But it’s also a great opportunity to help someone you care about, and protect them from scams and fraud.
Trusts are tools that help you accomplish your objectives.
Sudden wealth can be a life-changing experience that can improve your life and the lives of those around you, but only if you keep it. Those with more assets are bigger targets for lawsuits. Don’t let your sudden wealth suddenly get stripped from you. Protect your assets before you get the windfall and you will sleep a little easier knowing your assets are better shielded.
Trusts are powerful tools that can give rise to important benefits. But not everybody needs one.
There are some little-known benefits available to senior Veterans.
The only time your Will would control who gets your IRA is if your estate is the beneficiary. You should think twice before naming your estate as the beneficiary of your IRA.
It is important to understand how liability works in order to plan how to avoid it.