Australia Has The World’s Worst Money-Laundering Property Market | Zero Hedge
Trustophobic claptrap: In Australia, Canada and the US, the current anti-money laundering framework shows a tendency to rely on financial institutions to conduct the necessary background checks on real estate transactions… there are no checks on cash...Should You Create Trusts for Your Kids?
Even if you expect your children to be over age eighteen by the time you and your spouse die, you may want to consider keeping assets in a trust for your children to “protect them from themselves” until they reach a certain age when you think they will be...3 Personal Asset Protection Tools for Physicians | MD Magazine
In self-defense, if you train to draw your gun with an explosive Count 1, you will have more time and more options during counts 2 through 5. It’s the same with asset protection. Take the initial steps now so you have more options later. And there are...Security Risks For Wealthy Families Are On The Rise
Credit card fraud appears to be most prevalent. 51 percent of respondents said that at least one of their clients was a victim of credit card fraud in the past year. Tax returns getting hijacked is another recent yet unsuspecting trend. In addition to credit...Demi Moore Pool Death Puts Asset Protection To The Test
Article’s tone is rosy, but there are a lot of concerns here. In addition to the seasoning requirement in the asset protection trust statute of the trust situs, there is a ten year seasoning under US bankruptcy law, plus this is CA realty owned by a CA...Tailoring the Trust Protector’s Role
The Bespoke Trust Protector – Tailoring the Protector's Role from Matthew McClintock WealthCounsel VP Matt McClintock has been at the forefront in this cutting edge planning area — adapting the age-old concept of trust protector, commonly used in...OJ Simpson may be released soon to enjoy successful #AssetProtection planning
That adds up to £240,000 a year and will amount to a £2.16million fortune by the time of his anticipated release.Under America’s Employee Retirement Income Security Act, the pension cannot be touched by creditors, despite Simpson owing almost £27million....Big reason whites are richer than blacks in America? Lack of black estate planning.
I don’t agree with everything in this article, but it does make a good point about the lack of estate planning. It is surprisingly tough sometimes to get families to consider holding funds in trust to prevent kids from blowing their inheritance, and I can...Utah Jazz Owners Demonstrate Power of Dynasty Trusts
Utah Jazz Owner, Gail Miller, recently made basketball news by announcing that she and her family had transferred the NBA team and the Vivint Smart Home Arena into a dynasty trust. Gail Miller and her late husband, Larry Miller, bought the franchise in 1985 for...Help Your Clients Manage Political Risk
But, what about political risk? Given today’s volatile political environment, it seems especially prudent to raise this topic. A quick glance at the headlines is all one needs to appreciate that these are treacherous times that require organizations to take...Divorcing Spouse Busts through Delaware Dynasty Trust to take $30 Million Mansion (Kloiber Case)
Kloiber case recap: Does a Delaware Dynasty Trust still work? Yes, but only if it’s a fully discretionary trust. Do not ever draft a Delaware trust with health, education, maintenance and support distribution language since that is susceptible to the Garretson v....Carrie Fisher and Debbie Reynolds Dynastic Deaths Give Offspring Legacies and Millions to Inherit Overnight
Luck all around, despite the bad planning. Carrie had formal next of kin, daughter Billie Lourd, who inherits the house, the money and presumably the French bulldog even if the outspoken and occasionally erratic actress forgot to leave a valid will behind....Lessons Learned From U.S. Tax Fraud Case
The court also found that Dee Wyly, the widow of Charles Wyly (who was Samuel Wyly’s brother and business partner), hadn’t committed tax fraud, even though she was a joint signer on Charles’ returns. However, she must pay taxes, penalties and interest for a...Five Strategies to Chasing UHNW Unicorns
There are many types of advisors, but only lawyers are subject to state bar ethics rules and able to provide attorney-client privilege for confidentiality. Most importantly, planning is not all about money, and we know that. Go to http://Protect.LIFE and let an...Six Things Family-Owned Firms Should Know About Succession Planning
Among the chief goals of succession planning is providing continuity of management and minimizing the tax costs of transferring property interests to new generations.Source: Six Things Family-Owned Firms Should Know About Succession PlanningProtect Your Family From Identity Fraud
Personally, I think this is the best of the several solutions discussed: Another way for clients to avoid new account fraud is to put a freeze on their credit report with all three bureaus, which prevents anyone else from opening accounts in their name. There is...Special Needs Trust Fairness Act Becomes Law
On Dec. 13, 2016, President Obama signed the 21st Century Cures Act (H.R.34 — 114th Congress (2015-2016)). Section 5007 of the Act, titled “Fairness in Medicaid Supplemental Needs Trusts” incorporates language from the Special Needs Trust Fairness Act of 2015...Twelve “Star Wars” Lessons For Becoming A Financial Planning Jedi
A truly nerdy advisor with too much time on his hands put this together. Why nothing on Star Trek TOS? In preparation for “Rogue One: A Star Wars Story,” here are 15 lessons from the film series to help you be a financial planning Jedi. Source:...World’s oldest man Mbah Goto celebrates what he claims to be his 146th birthday
He has outlived all 10 of his siblings as well as his four wives, the last of whom died in 1988. All of his children have also died, and now he is survived by his grandchildren, great grandchildren, and great-great grandchildren. Source: World’s oldest...
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