One of the most important, and least pleasant, legal documents that I recommend for all of my clients is a prenuptial agreement. Nobody wants to enter into marriage with the thought that it could end in divorce. But, the reality is, we need to plan for the worst-case scenario. That is, after all, why we… Read More »
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Death Preceded Fame—’Girl with the Dragon Tattoo’ Author Had Invalid Will
Unless you don’t own a TV or use the internet, you’ve no doubt heard about “The Girl with the Dragon Tattoo” movie or read the book. If not, you’re missing some thrilling stuff. The author, Stieg Larsson, was a Swedish journalist who died in 2004 of a heart attack. He was not famous or rich… Read More »
The Dangers and Benefits of Offshore Trusts
The United States can be a very litigious country, where lawsuits can be filed with nothing more than a defendant and a complaint—whether that complaint is substantiated by evidence or not. The litigious nature of our culture is why it is so important for families and business owners to consider every option available to protect… Read More »
It May Be Time To Add Members To Your Single Member LLC
I’ve written on this blog before about how useful a Limited Liability Company (LLC) can be when protecting your assets as well as Single Member LLCs. A single member LLC is simply an LLC with only one member. Originally an LLC designation was for companies with 2 or more members, but states gradually amended their… Read More »
George Clooney’s New Movie Offers Informative, Entertaining Look at Trusts
George Clooney is starring in a movie about a family trust. Yes, you read correctly. “The Descendants,” which opened in select theaters last month, offers a great depiction of what the Trust industry is all about. The film comes from the creators of “Sideways” and “About Schmidt.” It tells a humorous and tragic story of… Read More »
Protect Your Loved Ones From Elder Financial Abuse
As our parents and family members age, they may become unable to manage their financial affairs without assistance. Unfortunately, there are many people in the world who will target the elderly to exploit them financially. Elder financial abuse is a growing concern, and as we can see from this news story about French L’Oreal heiress… Read More »
The Mortensen Case: What Went Wrong?
Asset Protection Trusts can be very useful tools as a part of a well thought out, comprehensive asset protection plan. In a recent blog, we took a look at DAPT trusts and the pro’s and con’s associated with this particular type of trust. An interesting case in which a domestic asset protection trust failed to… Read More »
What is a Domestic Asset Protection Trust and is it right for you?
Any reader of my blog knows that there are a number of different ways to protect your assets and your family. Which option you choose will depend greatly on a number of different factors, including: The size and nature of your assets, your goals for your wealth, your family dynamic, whether or not you own… Read More »
Deadline Nears for Reporting Option That Applies to Many Large Estates
For once, it seems that the IRS did something to be helpful for families that want to preserve wealth. The Internal Revenue Service issued guidance back in August on the treatment of basis for certain estates of decedents who died in 2010. This guidance assists executors who are making the choice to opt out of… Read More »
Protecting Your Family From ‘Deep Pockets’ Lawsuits
We live in a litigious society. As a matter of fact, America files more lawsuits than any other place in the world. As much as we would like to think that all (or at least most) of these lawsuits are about justice, the truth is that very often they are about money. In fact, quite… Read More »