Asset protection, perhaps counter intuitively, is just as important for entrepreneurs who are selling their businesses as it is for those who are running one. In fact, “selling a business” is one of my “risk factors” listed in the chart below. Most so-called succession and exit planners focus only on the deal terms, taxation, the valuation, estate planning, life insurance sales and where your sales […]
Are 529 plans creditor protected? Maybe.
Asset Protection attorney Ike Devji was recently quoted in financial author Geri Detweiler’s article on creditor protection of 529 college savings plans that appeared at Yahoo Finance and Credit.com among several other sites. SEE THE ARTICLE HERE: http://blog.credit.com/2015/10/can-a-debt-collector-take-my-kids-college-fund-126590/ The article explores the often complex and confusing laws surrounding the creditor protection of 529 […]
IRA Creditor Protection Issues – Asset Protection
Although IRA asset protection is provided by law to most personally owned and funded IRA accounts there are several other important asset-protection issues doctors, business owners, and other successful individuals need to consider. The (very) general rules of thumb about IRAs: For the purposes of brevity in the context of this column, in most cases, your […]
Prenuptial Agreements Key Issue in Asset Protection
One of the issues most likely to adversely affect your wealth is a simple statistic: nearly 50 percent of marriages end in divorce. With the summer wedding season upon us it’s time for a simple discussion of prenuptial agreements and why they must be part of every business owner, executive and physician’s risk-management plan. I […]
What Baby Boomers Must Know About Selling Their Business
We provide asset protection planning for many types of people. One of my favorite types of client is the successful business owner who is ready to sell and enjoy the fruits of their hard earned labor. Contrary to popular advice, your liability does not end at the sale and one of the things I’m always […]
