Think twice before you put somebody else’s name on on your bank accounts. Using trusts or powers of attorney can give you the flexibility you want without exposing your assets to unnecessary risk.
Posts Tagged: Asset Preservation
5 FACTS YOU SHOULD KNOW ABOUT REAL ESTATE TRANSACTIONS AND YOUR ESTATE PLAN
While real estate can be easily transferred or mortgaged, it is important to seek advice from a qualified professional to adequately protect your property and maintain the integrity of your estate plan. Here are five points to ponder.
Estate Planning Consequences of the Global Community
Some words of wisdom for people who have assets in, or reside in, multiple jurisdictions.
I love you, you’re perfect. Sign here. The world of pre-nuptial agreements
Premarital agreements may not be the most romantic things in the world, nor the easiest to discuss with a prospective spouse. However, they do have a place in estate planning. A scenario we see way too often is where a widowed individual marries late in life and leaves assets to a second spouse. The second spouse subsequently leaves those assets to his or her kids, to the exclusion of the children of the original owner. This is fertile ground for lawsuits and long-term resentments that could easily be avoided with proper planning. A premarital agreement is not necessarily a concession that a marriage work out. In fact, it can promote long-term stability in the marriage, with the added benefits of encouraging friendly relations between the surviving spouse and members of the next generation, as well as between his and her kids after the marital partners are both gone.
States Compete for Trust Business – WSJ.com
About half a dozen states are actively vying to attract wealthy families' trusts, as well as the jobs and tax revenue that come from the companies that administer these estate-planning… Read More »
Answers to questions about trusts
This blog posting answers some critical questions about trusts, asset preservation, and estate taxes.