What Is An Estate Plan?

There are many misunderstandings about Estate Plans and who should have them. Many people think that an estate means a large tract of land and great wealth and extensive personal property that is very valuable, such as vintage antiques and collectibles.

Estate - How To Legally Avoid Taxes On Gifts And Inheritances - Part 2

Last week I explained in theory how you can legally avoid paying taxes on gifts and inheritances. Avoiding taxes on gifts and inheritances is based on cost-basis. To help you apply this to your situation, I want to share some real-life examples of how my clients use these principles to legally avoid paying taxes on gifts and inheritances.

How to Invest When You Have No Money

A quick discussion of three easy ways to invest from $25 to $250 dollars.

Selecting a Good Trustee - Factors to Consider When Choosing a Trustee

How to select or choose a good trustee. What are the factors to consider when choosing a trustee? Who are some bad trustees? Consequences when the grantor names himself trustee. Co-trustees and trust protectors can ease responsibilities. Mentions testamentary trust, testor, settler, trustor, grantor, inter vivos trust, corporate trustees, trust companies, bank trustees and family members, accountants and lawyers as trustees.

Grantor Trust - What is It?

How the grantor trust relates to the trust contract. What is a grantor in a trust? The living revocable trust by the grantor does not provide asset protection nor avoid estate taxes. The grantor benefits when setting up an irrevocable trust.

Estate Planning and the Enduring Power Of Attorney - Changes Imminent

It can be hard to imagine that you may not be able to look after yourself at some point in the future. As most of us are only too aware though, the chances of this situation arising is likely. But who will look after your financial affairs? And how will it all work, especially if your situation deteriorates quickly? Let's look at the options available to you-

What Would Happen If You Got Sued? Can't Happen To You? Think Again! You Need Asset Protection

Sadly this could happen to you: The doorbell rings and a courier arrives with a package for you to sign. What could it be? A gift from someone? You sign and open the box to find you have been served. The mailman tripped and hit his head which led to a stroke. His family is now suing you for 18 million dollars. Your home insurance policy only covers personal injury up to 7 million. Your in big trouble. What started out as a great day has now become the beginning of a nightmare. Your assets including your home are at risk. Sadly this coiuld havppen to you. It happens thousands of times each day! Courts are filled with these types of cases every day. I personally know the head of a large law firm that only handles these type of cases. Its a big business. Now here's the kicker: These lawyers work on comission. The party filing the lawsuit pays nothing and the lawyers are like hungry dogs. Nipping and knawing at you. Dragging you into court for this and that. All the time you have to pay a lawyer ungodly sums of money to just defend yourself. The nightmare doesn't seem to end. Then when they have you sweating they start the settlement proceedings. All the time you are paying your lawyer. If if you win, you loose! Do you risk loosing everything or do you settle?

The Estate Plan Of Anna Nicole Smith - Lessons For All Of Us

The best time to engage in estate planning is when we are healthy. The example of Anna Nicole Smith and her estate plan is an instructive lesson on how not to handle your own estate planning issues.

What is Unclaimed Inheritance? Am I Owed Any?

Are you aware there is over 35 BILLION dollars in unclaimed money in the United States and some of it is unclaimed inheritance? This money sits in the state or federal unclaimed money pools until the rightful owner claims it. The problem is the account owners of unclaimed inheritance accounts usually don't know the money even exists so the money just sits and sits and sits-

Asset Protection Trust

About asset protection as trust; Define Grantor.

The Inheritor's Trust

The Inheritor's Trust is a way for a child with a substantial estate to save estate taxes and obtain some protection against creditors, lawsuits, etc. This article discusses this new concept.

Setting Up a Special Needs Trust for a Disabled Relative

Many of us have a family member or close relative with a disability. We'd like to leave a portion of our estate to help this family member but are unsure how best to do this. Should we just make an outright gift? What about a trust? This article takes a look at some of the options.

Why Everyone Needs At Least A Living Trust

We share one thing in common. If you're reading this article you probably will not live to see the end of the 21st Century. The Revocable Living Trust is something most people should have but few actually see that it's done. Here is why everyone needs the Living Trust.