The Perils of Outright Distributions and Gifts
Here are the six primary benefits of a lifetime discretionary trust: 1. Protection From Liabilities An inheritance that goes directly into the beneficiary’s pocket is readily available to pay the beneficiary’s liabilities from a car accident, in bankruptcy, or after a...IRS Approves Another NING/DING
http://leimbergservices.com/rss/Keebler-PLR201614007.mp3 The IRS has approved another non-grantor, incomplete gift trust. NINGs, DINGs, etc., are useful to avoid high state income taxes and are also useful for asset protection. See PLR 201614007. If attacked, do you...More U.S. police officers buying insurance in case of lawsuits, union says
Asset protection — nowadays, it’s not just for doctors and business owners: WASHINGTON (Reuters) – Law enforcement officers in the United States are increasingly buying professional liability insurance policies amid worries they may be sued for their...How to Know if Your Elderly Parents are being Scammed
Consider asset protection for surviving spouse and children, in your plan and that of your parents: Seniors are more likely to be targeted by fraudsters for a number of reasons. They tend to have more money saved up and they may be more vulnerable due to cognitive...What Do The Panama Papers Mean for Offshore Wealth Management?
Mossack created bespoke shell companies, often located in international tax havens like the British Virgin Islands, Panama and the Bahamas, for wealthy clients looking to house assets in secret. Transactions generally occurred through a series of intermediaries to...How O.J. Simpson and Lance Armstrong Protected Their Millions
There are several states, notably California, that have become increasingly aggressive in pursuing traditional IRA assets in liability cases. Accordingly, investors should seek to keep as much as possible in segregated ERISA-sponsored retirement investments, as they...Reverse Mortgages and Irrevocable Trusts
This content is for members onlyLandmark Supreme Court Case: Retirement Trust Necessary for Asset Protection
Asset protection is an important benefit an estate plan can provide for your family, but oftentimes there is no such planning with respect to retirement assets. This is why I have long encouraged clients to consider a separate “Standalone Retirement...IRS Approves Another NING Trust
Want to escape high state income taxes? On March 7 the IRS in PLR 201410010 approved another NING trust (Nevada Incomplete-gift Non-Grantor Trust), which is incomplete for transfer tax purposes while remaining a non-grantor trust for income tax purposes. This trust,...Irrevocable Trusts in California
An irrevocable inter vivos trust (IRT) is a trust created during the settlor’s lifetime, over which settlor retains no power to alter, amend or revoke. Although RLT’s typically become irrevocable on the settlor’s death, they are not called irrevocable trusts. Trusts...Business Planning
Set up your business with tax planning, estate planning, asset protection, and family protection in mind. In this economy, you need every competitive advantage, and your competitors are not standing still when it comes to tax planning. Estate planning and business...
Free to Advisors
