The need for asset protection planning arises when you have to achieve your goals and protect your family wealth and assets from the claims of creditors. The tools used for asset protection planning may be used alone or paired with some other tools and strategies in order to achieve the… Read More
posted on June 16, 2014
Are Inherited IRAs Subject to Creditor Claims?
The answer is YES. On June 12th the Supreme Court of the United States handed down a decision stating that Inherited IRA’s are subject to the claims of creditors. For anyone who inherits an IRA, creditors or a spouse in a divorce can attach that inheritance if not properly planned.… Read More
posted on March 24, 2014
“Only Older People Need Estate Plans”
Français: Enterrement à (Photo credit: Wikipedia) It isn’t a surprise to anyone that those typically motivated to do estate planning are those that have their mortality staring back at them. Examples include clients preparing for travel, life-challenging illnesses or individuals in advancing years. I don’t need to remind anyone that… Read More
posted on January 28, 2014
Estate Planning Mistaken Belief #2
IF I HAVE A WILL, MY FAMILY WILL AVOID PROBATE I am unsure how this mistaken belief ever came about since a Will is almost synonymous with probate. By way of background, using a Will as your primary estate planning document, your estate may be probated. Without a Will, your estate… Read More
posted on January 2, 2014
Question: Does Having a Will Mean You Avoid Probate?
Question: Does Having a Will Mean You Avoid Probate? Answer: No, almost by definition, a Last Will & Testament implies that a probate will be needed to administer the estate. The best way to avoid probate is using a revocable trust. Another way to avoid probate, but sometimes causing more… Read More
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