What’s the Difference Between a Will and a Trust and Which one Do I Need?

FAMILY

An estate plan is always necessary unless you want your estate to pass through “operation of law” which involves the long, uncertain, public and expensive process at your death with a stranger (the courts) deciding who gets everything you leave behind. This process often leads to heartache, delay and additional stress for those you leave […]

Asset Protection with Offshore Trusts – The Cook Islands

OFFSHORE TRUSTS

This article is somewhat sensational (like most lay-articles on the subject of Asset Protection)  in that it focuses on the “bad users” but the science is still sound. There are likely more people abusing tax deductions and self-directed IRAs than the kind of well timed and tax neutral offshore trust planning which we’ve helped 1000’s […]

Asset Protection Trust Jurisdictions For Doctors Part 2: Going Offshore

OFFSHORE TRUSTS

Last week marked the second chapter of our discussion of asset protection trusts for doctors, with a look some basic issues of jurisdiction, that is, what geographic location’s set of laws control the trust. For those who want a potentially higher degree of security with a longer track record, offshore tools like international asset protection […]

Asset Protection Trust Jurisdictions for Physicians – Part 1, Domestic

law and money for doctors

In our discussion two weeks ago we introduced the Asset Protection Trust (or APT) as a tool and answered some of the most frequently asked questions regarding what it is and how it differs from the estate-planning trust many doctors already have in place. We continue our discussion of the APT this week and examine […]

What Could Bravo’s ‘The Queen of Versailles’ have to do with Asset Protection?

WEALTH IN AMERICA

Quite a bit actually as it shows the stupidity of reckless excess spending, the importance of having cash (even for the rich) and the failure of most contemporary estate planners and business lawyers to plan ahead and think defensively, yes even the super smart ones who work only with rich people. – Ike Devji   […]

GUN TRUSTS: Their Value and Use to Gun Owners and Planners

70 Series

Great informative article by attorney Dennis Brislaw on the use of “Gun Trusts” by lawyers and their clients. A Gun Trust Helps Protect Your Client from “An Accidental Felony” READ IT HERE: http://tinyurl.com/GUNTRUST   We will soon be offering these to our clients as well for a variety of reasons including:  1. A large number […]

Is a Captive Insurance Company a Fit for Your Business or Medical Practice?

BUSINESS AND MEDICAL PRACTICE OWNER LAIBILITY

In our two previous discussions we introduced the general concept of a captive insurance company (captive) as well as specific qualifying questions to help doctors pick a good captive administrator. This week we examine some key issues that can help determine if your specific medical practice is at the point where a captive may create […]

Hidden Assets, Buried Gold, Stuffed Safes and Other Asset Protection and Estate Plans FAILS

Attorney Mike King, Gammage & Burnham

The article below is by Attorney Mike King, and shares some detail on the legal issues surrounding intestate property and especially that which is “hidden” and undisclosed. My expectation is that this will be a common story for the next twenty years plus as many people who are currently accumulating and “hiding” assets like gold, jewels, […]

U.S. Citizen Thinking Of Expatriating? Important Articles on What it Means

Island

Due to the nature of our practice with thousands of Americans we have safely helped use a variety of tools including offshore trusts in a safe and legal way, we get lots of questions about expatriation. Our position remains the same;  the best of usage of these tools is tax neutral and provides surety while allowing […]

Incomplete Gift Tax Reporting – A Common FATAL Asset Protection Flaw

ASSET PROTECTION FRAUD

RELYING ON GIFTING TO RELATIVES AND FRIENDS  (SEE ALSO FAILING TO ACT)  Transferring all of your assets to your spouse and/or children, especially after something has happened, will not protect your assets from a lawsuit. Even if it did protect those assets from your lawsuits, transferring your assets to your spouse and/or children opens up another Pandora’s […]