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.
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.
Asset protection is an important discipline used in conjunction with estate planning which employs various strategies to ensure that one's wealth is not unnecessarily at risk of being depleted. Many people benefit from doing a little, or a lot, of asset protection. But one thing to be careful about is that you get good advice when doing asset protection.
Asset protection is an important discipline that can contribute to effective estate planning. Everybody can benefit from a little asset protection panning, but especially business owners. That said, it is important to beware that not all asset protection planning is good asset protection planning. Some asset protection schemes are ineffective or borderline illegal.
Asset protection is an important aspect of estate planning. By asset protection we mean protecting one's wealth from liabilities so as to maximize the amount one is able to pass on. Asset protection planning is especially important for those who own small businesses, entrepreneurs, and other people.
With the rising costs of nursing homes and long-term care, it is critical that everybody engaging in estate planning look at how they plan to fund their own care. The reality is that the average cost for care is around $73,000 per year and is on the increase. It doesn't take long, then for nursing home costs to eat away at one's wealth.
Self-settled trusts, or asset protection trusts, are an important tool to be aware of when going through the estate planning process. In self-settled trusts, the grantor and the beneficiary are the same person.
In our previous post, we began speaking about various techniques or tools for asset protection planning. As we noted, the purpose of the latter is to ensure that your assets are protected from unforeseen liabilities and creditors. Asset protection planning is essential to ensure that you are able to pass on to your family as much wealth as possible.
Asset protection planning is an important part of estate planning. The purpose of asset protection in the context of estate planning is to prevent a person's lifesavings from going down the tubes as a result of a lawsuit, an imprudent investment or an unforeseen personal liability. Reducing the amount of estate taxes on an estate is another of asset protection planning.
In our previous post, we began looking at several new developments in asset protection case law the first development we noted was a judicial decision from Virginia regarding fraudulent transfers. The case at issue in that decision involved a defendant company that had transferred intellectual property rights to another company without sufficient consideration. The property apparently included domain names.