When drafting an estate plan, most people will elect to leave their hard earned assets to their spouse and children. At times, however, a person may choose to leave a certain family member out of their estate plan. A parent...
Category: Asset Protection
3 Reasons Why You Need An Estate Plan
Estate Planning for the Art Collector
A fine art collection can be one of the most valuable assets a person owns -- sometimes even more valuable than a home or oceanfront property. For the serious art collector, congruently serious estate planning is necessary to help ensure the paintings or sculptures are not lost due to estate taxation or...
Personal Asset Trust
When you establish a personal asset trust (PAT), instead of receiving your inheritance directly, your beneficiaries receive it in a special trust which emanates from your Living Trust. The Personal Asset Trust is under the control of each beneficiary. The benefit...
The Legal Battle Over Robin Williams’ Bicycle Collection and Other Valuables
If only settling an estate were as easy as riding a bicycle. In fact, unless skilled attorneys have worked carefully and diligently to tighten any loopholes, there may be complications in the process. Even with a will in...
Protecting Assets from Being Designated as “Abandoned” Property
It has become apparent that states are becoming more aggressive in claiming mutual fund investments as "abandoned" property. While it is clearly in their financial interest to do so, it is not in...
Ways a Living Trust Can Help Preserve Assets
A living trust is a legal written document which partially substitutes for a will. By employing a living trust, your assets, including your bank accounts,...