Asset Protection
Dynasty Estate Planning and Asset Protection
Two Sides of the Same Coin… Usually if you have planned your estate, you have also tried to protect your assets from being taxed. If things are included in the estate, they will be taxed, so assets need to be moved out and made unavailable to the government. Who are we protecting our assets from?…
Read MoreWhat is Preventive Law?
Just as many people avoid going to the doctor until there is a problem, people also avoid meeting with their attorney until something goes wrong. Similarly, as regular visits to the dentist can prevent traumatic dental experiences, regular appointments with your attorney can help you prepare for the road ahead and plan for worst case…
Read MoreAvoiding Litigation with Dynasty Estate Planning
The only thing worse than a death in the family… Brother suing brother or sister or mother is the most destructive and awful tragedy that can strike a family. A family can recover from terminal illness, substance abuse and infighting, but there is no coming back from family litigation. How to Avoid Litigation within the…
Read MoreRevenue Ruling 2023-2
Revenue Ruling 2023-2 is Nothing New The IRS ruled in Revenue Ruling 2023-2 that assets in an irrevocable trust outside the taxable estate of the grantor, do NOT get a step up in cost basis when the grantor dies. Although this ruling has received some attention and disagreement in the media, it is nothing new…
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