Many of our clients are business owners, and indeed, Reno is a fantastic place to establish a business, whether it is a small operation or a large corporate location. There are a number of different reasons why the state of Nevada is very attractive to members of the business community. One of them is the fact that there are not a lot of heavy taxes on businesses in our state. If you were to establish a limited liability company in Nevada, you would not have to worry about paying any … [Read more...] about Asset Protection for the Reno Business Community
Asset Protection Planning
There are many different trusts that can be used to satisfy varying objectives. If you are concerned about the possibility of future creditors seeking to attach your assets, there is a particular type of trust that you should consider. The legal name of this trust structure is called a self-settled spendthrift trust. Among estate planning practitioners in Nevada, it is alternately referred to as a Nevada Asset Protection Trust. This type of trust can protect a number of different assets, … [Read more...] about Consider a Nevada Asset Protection Trust
As Reno asset protection attorneys, we emphasize the fact that relatively frequent estate plan revisions may be necessary. There are different events that occur throughout society as a whole that can render your existing estate plan in need of adjustments. At the top of this list would be changes to the tax code that impact the estate tax and/or the gift tax. One of the things that commonly takes place in the lives of individuals is a change in marital status. As we all know, many first … [Read more...] about Asset Protection After Remarriage
Most clients understand that revocable living trusts are valuable components of an estate plan. But when asset protection is a primary goal of your estate plan, then revocable living trusts are not necessarily the way to go. The fact is, revocable trusts do not provide asset protection from legal claims or creditors. But, there are other options available that you should discuss with your Reno asset protection attorney. Why a revocable living trust cannot protect assets When you create a … [Read more...] about Can I Use a Revocable LivingTrust to Protect My Assets?
It is relatively easy to understand how important asset protection planning for Nevada residents can be. Most people want to make sure their assets are protected, including real estate, investments, business interests, and even personal property. Just consider the costs of malpractice, business (E&O), and other forms of liability insurance, which are rapidly increasing. It is certainly important to be preemptive in protecting your assets from potential creditors, whether that is through … [Read more...] about Asset Protection Mistakes Nevada Residents Must Avoid
Most clients understand that living trusts are valuable components of an estate plan. But when asset protection is a primary goal of your estate plan, revocable trusts are not necessarily the way to go. The fact is, revocable trusts do not provide asset protection from legal claims or creditors. If you have the ability to take assets out of a revocable trust as a trustee, then your creditors have the same ability to enforce a judgment against you. But, there are other options available that … [Read more...] about Revocable Trusts: Will They Protect Assets?
One aspect of asset protection planning that is difficult for most people is making a proper determination of who is likely to be a potential creditor. Those who are able to make this determination, are better able to make an effective asset protection plan. It is easier to plan when you know exactly what you are planning for. Topics covered in this report include: There is nothing illegal about asset protection planning Take action before problems arise Be careful in determining who will … [Read more...] about Free Report: Asset Protection Planning Mistakes in Nevada
Nevada Asset Protection Planning Mistakes from Brad Anderson One aspect of asset protection planning that is difficult for most people is making a proper determination of who is likely to be a potential creditor Those who are able to make this determination, are better able to make an effective asset protection plan. It is easier to plan when you know exactly what you are planning for. In other words, if you can implement a strategy to protect against certain claims, you can more easily limit … [Read more...] about Nevada Asset Protection Planning Mistakes
Asset protection is very important to anyone who wants to protect their estate but proper protection can be tricky. Asset protection planning is basically the process of evaluating all of your assets and arranging, or rearranging, them so you can protect them against loss. However, if not done correctly, you may cross the line into tax evasion or creditor fraud. Fraudulent transfers are a major concern in the area of estate planning. Fraudulent Transfers A fraudulent transfer, also referred to … [Read more...] about What Are Fraudulent Transfers?
Understanding the Uniform Transfers to Minors Act from Brad Anderson Transferring your property, through a gift or by trust, is a common transaction. However, transfers of property to minors are often more complicated and require more thought, in order to be accomplished appropriately. Children are considered to be too inexperienced to be legally competent to manage their own assets. Therefore, third parties are unwilling to deal with minors, even if they are competent in fact. Learn more … [Read more...] about Understanding the Uniform Transfers to Minors Act