In our previous post, we began speaking about the value of going offshore with one's financial and banking strategies, and with respect to asset protection. As we mentioned, there are a variety of reasons to consider going offshore, including protection from creditor claims, increased privacy, decreased taxation and increased access to world markets.
Offshore asset protection may be worth considering, P.2
Offshore asset protection may be worth considering, P.1
Asset protection is a valuable part of estate planning in which can enhance anybody's estate planning. But it is critical for those looking into asset protection to try to find strategies that will afford them real protection. Because of the uncertainty around certain asset protection strategies devised here in the states, it is worth it to look into the possibility of offshore asset protection.
Important estate planning strategies could be affected going forward
As our regular readers know, Congress made some permanent changes as part of its "fiscal cliff" remedy that have given estate planners more certainty than they've had in years. The permanent changes, it so happens, are quite favorable from an estate tax and gift tax perspective.
What happens when a deceased person's estate owns out-of-state real property?
Out of state real property carries extra challenges in probate court when compared to other assets. Because such property cannot be transported across state lines, the state in which it resides has an interest in its administration, and a separate probate process is usually required to ensure that the proper parties receive title.
Christie's agreement to expand Medicaid meets with large approval
In a move that may change the number of people going about Medicaid planning, Governor Chris Christie recently decided to use available federal funds in order to expand Medicaid. That decision is expected to3 save the state $227 million a year by enrolling 104,000 low-income people into the government health care program.
Decision in estate of James Brown a sign that charitable trusts are to be respected
More than six years after the death of legendary soul singer James Brown, the South Carolina Supreme Court issued a critical ruling that may finally allow a legal dispute to wind down. At his 2006 death, Brown left a detailed will and trust indicating that he wanted his personal and household possessions divided between his six adult children, two million dollars to go to a trust for the education of his grandchildren, and the rest going to a charitable trust.
