Medicaid planning draws many attorneys, financial advisors, and others who market strategies and documents which purport to protect your wealth from the government should you ever need government assistance to provide nursing home or long term care for you (and your spouse if you are married).
I heard that my family will get my property and my children anyway if I die without a will. If you die without an estate plan the state has a plan for you. The state has a law that says who will get all of your property upon your death. Even if you are married, [..]
In the past few years, we’ve seen rapid growth in the practice of savvy IRA owners (including those holding conventional Individual Retirement Accounts, Roth, SEP-IRA and 401-k plans) who are assuming control and investing their retirement benefits into their own truly Self Directed IRA. They began to use this form of account to purchase untraditional IRA [..]
A self directed 401K, is a 401K plan arranged for your company. In your role as leader of the company, you will behave as the legal custodian and trustee, overseeing the plan’s financial dealings. The investments for the 401K plan might be in a broad range of permissible investments. The utilization of this type of [..]
A Limited Liability Company (also referred to as an LLC) is a business structure that has gained popularity because the owners are faced with very restricted or limited liability for debts and actions of the LLC. The LLC also acts more like a partnership, with pass-through taxation and management flexibility. LLC owners are called members. [..]
An effective Family Limited Partnership (FLP) can provide very good protection from creditors, as well as the flexibility not found in different trusts, and it is not difficult to change a Family Limited Partnership when the need arises. A Family Limited Partnership boils down to a traditional limited partnership where the partners are members of [..]
This trust is the ultimate in asset protection. It is drafted in accordance with the laws of a foreign country in order to keep the assets safe from creditors. The Settlor of the trust, also known as the creator, gets to choose which country’s laws to abide by, and selects the provisions and the trustee [..]
What would happen if you were sued? What would life be like if you lost it all? You don’t need to be a millionaire to be the target of a lawsuit. With more than 70,000 lawsuits being filed every day in this country, would you believe that the majority of the named defendants are actually [..]