Will your legal and financial planning really protect your family and your business? Asset Protection attorney Ike Devji on the tough questions you must ask about your own plans TODAY, while you still can. Many of those I counsel are in high-income, high-stress, and high-liability professions. Whether you are a business owner, entrepreneur, physician, your planning […]
When An Estate Plan Isn’t Asset Protection
In a previous post I shared the details of the incomplete (if not financially fatal) advice one physician got from a source with questionable experience. That advice involved some common misconceptions among lay people and advisors about very basic legal and risk management concepts. Understand the REAL Role of Your Estate Planning For the most successful and/or […]
Estate Planning FAIL: Trusts Without Pour-Over Wills
This is the first article in a new series by Probate Litigation attorney Robert Sewell which will focus on “war stories” regarding common estate planning mistakes, as seen by a probate and trust litigator. These stories are meant to serve as lessons for the average reader. If you see the fact pattern below in your estate plan, […]
Estate Planning, Sugar Daddies and Lawsuits, Oh My
Given the current and often predatory nature of modern personal relationships I thought this piece by my friend and colleague Robert Sewell of Davis Miles McGuire Gardner was interesting and timely, to say the least. Bob practices heavily in the area of probate litigation, which is where late or poorly drafted estate plans end-up, usually […]
Key Legal Documents Everyone Facing a Divorce Must Update
A common error after the expense and trauma of a divorce is not updating a variety of key legal and financial documents. You would not believe the number of estate plans and insurance policies that name an ex-spouse as the beneficiary of everything a client owns. Jeff Landers of Bedrock Divorce advisors provides a great summary […]
When Should You Update Your Estate Plan?
We’ve previously highlighted the financial and legal planning issue business owners and doctors feel uninformed about, and provided links to more than half a dozen articles on those areas of concern. Today we continue our examination of those blind spots by addressing a common question: When should I update my estate plan? We’ve previously addressed common estate-planning […]
VIDEO: How does an Irrevocable Life Insurance Trust or ILIT Work? Life Insurance Creditor Protection
Great introduction to some benefits of a life insurance trust. Of course, from my perspective, which is always based on wealth preservation, a key benefit not mentioned is that PROTECTS the cash value and death benefit for both the insured and the beneficiaries. – Ike Devji
Hidden Assets, Buried Gold, Stuffed Safes and Other Asset Protection and Estate Plans FAILS
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, […]
Protection for Your Most Valuable Asset…Your Children
We always try to to be clear about the difference between two related sciences, Estate Planning (a.k.a. DEATH planning, what happens to my “stuff” and family when I die) and Asset Protection planning (a..k.a. LIFE planning how do I make sure my “stuff” lasts my whole life and is preserved for my family). At the end of […]
Common Estate Planning Mistakes Made By Physicians
For most doctors, the second step taken in personal financial and legal planning after setting up retirement accounts is some basic estate planning, typically in the form of a will or a revocable living trust. Below are some of the common issues that negatively affect physicians and their families if not properly addressed. The good […]
