My Comments: As a financial planner for many years, one of the skill sets I’ve tried to develop, mindful that I am not an attorney, is estate planning. Until recently, this topic was mostly focused on the “death tax issue”. When someone died, and died with a lot of money or property, the financial threat …
Continue reading ESTATE PLANNING IS NOT JUST FOR THE WEALTHY
My Comments: This came as a reminder to me that none of has a contract with God to be here tomorrow, much less a few years from now. And there are things you should anticipate and take care of to make sure your family is not turned upside down when that lack of contract turns …
Continue reading Are Your Clients Better Prepared Than Abraham Lincoln Was?
My Comments: While the title of the article is a little obscure, the message is clear: most people do not have a plan to deal with their assets when they pass away. As I mentioned recently about Long Term Care insurance, there is a strong denial force at work here. At the very least, get …
Trusts, Pt. 3: Advanced Concepts | Article added by Hale Stewart on May 24, 2012 In this final article on trusts, I’m going to cover some more advanced areas. Just to review, in the first article, I discussed the basics of trusts, while in the second, I looked at some basic situations where trusts are …
Trusts, Pt. 2: When should they be used? My Comments: This comes from Hale Stewart, an attorney in Houston, Texas. He and I have spoken as a result of his interest in captive insurance companies and asset protection. He is the author of the book U.S. Captive Insurance Law and is currently working on his …
My Comments: This comes from Hale Stewart, an attorney in Houston, Texas. He and I have spoken as a result of his interest in captive insurance companies and asset protection. He is the author of the book U.S. Captive Insurance Law and is currently working on his Ph.D. From time to time, my clients ask …
My Comments: I have very little to add to these excellent thoughts. I have to be careful what I say since I’m not an attorney and there are limits to what I can say. Here and there I’ve added a word or two so you can read this as though it was directed to you …
Continue reading Taking Back Control: Living Wills and Beyond
My Comments: Whew! Talk about woe and gloom. Here I am trying to create a more positive atmosphere for all of us and this comese up. Must be the weather. Brett Anderson on April 30, 2012 Saabira Chaudhuri’s Wall Street Journal article, “The 25 Documents You Need Before You Die,” (Weekend Investor, July 1, 2011) …
My comments: The Federal Estate Tax, much discussed and vilified by pundits everywhere, is essentially a voluntary tax. There are dozens of techniques and strategies available to someone to minimize, if not eliminate, the tax burden that falls to the heirs of someone whose assets are subject to the tax. That taxes are paid is …
By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M. (A quick note: For those not already in the know, “Crummey" refers to a tax court case. The "powers" granted as a result of the ruling allows a person to effectively transfer meaningful amounts of one’s assets downstream to the next generations without causing you to …
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