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
The Importance of Life Insurance in Estate Planning from Brad Anderson An estate plan can include any number of tools for managing and protecting your assets, including life insurance policies. In fact, the importance of life insurance in estate planning should never be overlooked. Learn more about the importance of life insurance in estate planning in this presentation. … [Read more...] about The Importance of Life Insurance in Estate Planning
Estate planning for high net worth families is extraordinarily important given the realities of the federal estate tax and any damage that could be done via litigation. In addition to these protections you also have the ability to reach out and support nonprofit entities that you believe in while gaining tax advantages in the process. This may seem self-evident to anyone who has the financial savvy to have accumulated a significant store of wealth. You must, however, be diligent because constant … [Read more...] about Take Steps to Keep Your Wealth Intact
Each estate plan is as individual as the person who creates the plan. Having said that, one of the most common components to an estate plan is life insurance. Whether or not you should include life insurance as part of your estate plan will depend on a number of factors; however, there are some things you should take into account when making the decision. Your age and health. Life insurance is less expensive to purchase when you are younger and healthy, meaning you should be able to lock in the … [Read more...] about Should I Include Life Insurance In My Estate Plan?
When you are serious about making informed plans for the future you have to be aware of all of the options that are available to you and how to use them effectively. Depending on the resources that you have and what your legacy intentions are some of the instruments that would be useful are rather complex. So, unless you are in the field of financial planning or elder law you probably are not going to have a comprehensive understanding of the challenges that exist and the appropriate responses … [Read more...] about CRUT For Tax Savings, Asset Protection
There were some big changes to the estate tax parameters included as part of the new legislation signed into law by the president on December 17th that is being called the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The lead story from an estate planning perspective involved the rate of the tax and exclusion amount. Rather than the $1 million exclusion that was scheduled upon the expiration of the Bush tax cuts the exclusion is set at $5 million, and the … [Read more...] about Bill Makes Estate Tax Exclusion Portable