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...

What is a personal asset trust and what are its benefits?

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...

Is  settling an estate as easy as riding a bicycle?

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...

Are You Doing Enough to Protect Your Estate from Being Turned Over to the State?

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...

What is a living trust and how can it be useful in financial planning?

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,...

How should members of the "sandwich generation" protect themselves and their loved ones?

Members of the sandwich generation, those responsible for aging parents and children (even adult children) simultaneously, may experience a great deal of stress, financially as well as emotionally. In such cases, a skilled estate planning...

What do property owners have to consider when engaging in estate planning?

Estate planning, desirable for almost everyone, is absolutely necessary for homeowners who co-own property.  They must be prepared for the eventuality of the death of a spouse, family member, friend or colleague with whom they share ownership. Clearly, it will be necessary...

I hear a lot of different information about the consequences of making a mistake in an estate plan. How can I separate fact from fiction? 

Estate planning is, of course, an important consideration for every family, regardless of size or financial situation. However, there are a number of myths out there, many of which...

What is a revocable trust?

A revocable trust is used for estate planning because it allows a transfer of assets to someone during a person’s life (a transfer after death would happen through a will). The assets become the legal property of a trustee, who is supposed to manage them and carry out the...

What are Fraudulent Transfers?

Asset protection planning is best done before you have a legal or financial problem. If you wait until these issues occur and then create an asset protection plan, you may be perceived as engaging in a fraudulent transfer.

Fraudulent transfers are asset transfers done in the hopes...