09th April 2007
Tax-Sheltered Annuity (TSA), also known as a 403(b), is an alternative retirement savings plan. Not everyone can participate in this plan, and it is restricted to those who are employed by educational, cultural, or non-profit organizations such as religio...
09th April 2007
Do you have a Living Will? To Living Will or to not to Living Will. These questions lend themselves to more questions: How well do you know and trust your loved ones? How confident are you that they understand your core values and views on what your final...
09th April 2007
Warning: As of October 18, 2006 Private Annuity Trusts (PAT) are no longer recognized by the Internal Revenue Service (IRS) as legal means for managing assets tax deferred! The Private Annuity Trust has been replaced with The Ensured Installment Sale (Str...
09th April 2007
For some people, a Charitable Gift Annuity (CGA) is a convenient way to donate funds to an educational, religious or other charitable organization. A Charitable Gift Annuity works very similar to other annuities you might purchase through your insurance c...
03rd April 2007
Family limited partnerships, one such traditional limited partnership, have been over marketed as wealth transfer devises. Family limited partnerships are red flags for the Internal Revenue Service as abusive tax-free wealth transfers. Family partnerships...
03rd April 2007
The limited liability company (aka L.L.C. or LLC) is the strongest asset protection devise for your business replacing the sub chapter "S" corporation. The LLC offers limited liability to the owners of a business and, additionally, the limited liability c...
03rd April 2007
The nuts and bolts of a trust are a legal and binding contractual obligation created between two parties enforceable by law to all parties. Generally, the owner or possessor of valuable assets wishes to legally empower another person to control his assets...
03rd April 2007
A Will is a legal document outlining a person’s final wishes for distributing their property post-mortem. A Will Contest is a type of litigation stating there is a disagreement with the current Will, and must go through Probate Court to be resolved. Wat...
03rd April 2007
Annuities are not a new concept, although they have become more complex over time. The first annuities were documented in America during the mid-eighteenth century by Pennsylvanian ministers, and it was not until the early twentieth century when they beca...
03rd April 2007
What if I already have a power of attorney? How will the financial directive help me still? A boilerplate power of attorney is intended to give your agent general powers. A Financial Directive has very specific powers granted by the Principal (you) to the...
03rd April 2007
I recently wrote about the absolute need for a Medical Directive granting the “exclusive power” to your Agent for the purpose of communicating your healthcare wishes and to instruct those in charge of your medical care and to respond to the actual fac...
27th March 2007
An Advanced Medical Directive deals with life's real issues and combats the problems that arise where most boilerplate healthcare powers of attorney, healthcare proxies, living wills and others fall short. The Terri Schiavo case is a prime example of such...
27th March 2007
Most Americans die in a hospital, nursing home, or other health care facility. Doctors who are charged with preserving life are generally legally powerless to provide other than minimum care due to their malpractice fears. The less than ideal doctor-patie...
27th March 2007
There are several specific advantages of foreign or offshore trusts for lowering explicit taxation, increasing after-tax profit and safeguarding assets amongst other benefits. Domestic asset protection will be reviewed against the more formidable advantag...
27th March 2007
There are many advantages to the limited liability company (LLC) including the financial and tax advantages. Herein we discuss the other specialized uses and benefits to you for possibly implementing the limited liability company in your estate planning a...
