Mark and Leslie have been married for 40 years. They each have retirement accounts they have contributed to faithfully throughout their adult lives. Mark and Leslie have three adult children, and Mark has a child from a previous marriage. Mark has recently passed. What will happen to his retirement account? How can Leslie ensure her […]
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You have spent a lifetime building your retirement accounts. The asset protection they provide from creditors and a financial safety net for the future are benefits that lead all savvy investors to maximize their contributions each year. Do these same benefits carry-over when you pass your retirement account on to your spouse, child, or other […]
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Standalone Retirement Trusts (SRTs) are an option to protect your individual retirement accounts that you may not have considered. One of the major benefits of an IRA, 401k, or other retirement account is, with some exceptions beyond the scope of this article, the money is safely tucked away from most creditors. It is why many […]
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When doing your estate planning, you may choose to have a revocable living trust as the foundation of your estate plan as opposed to a Last Will and Testament. A trust allows you to avoid probate, protect inheritances, and plan for when you can no longer manage your affairs. A revocable living trust is created […]
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Jennifer’s company has had recent layoffs. She is a computer engineer with over three decades of experience. Jennifer recently found a new position and would like to transfer her 401 (K) after switching jobs. She would also like to transfer some of her paper stock ownership in her previous company to her children and donate some […]
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Anthony and Shamari are considering buying a home in Florida. They want to spend their winters there. The amount they have to spend on the new home in large part is determined by the feasibility of renting their current home out for the three to four months they will be gone. Their current home is […]
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Mike S. is a 40-year-old venture capitalist who fell on the wrong side of the law. He faces a two-year incarceration and needs to make some financial plans for his wife, a stay-at-home caregiver, and two minor children. Mike has several concerns, including paying the bills for his family and business, providing his family with […]
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Who has the potential to be sued? Everyone. If you drive a car and get into an accident or if someone has an accident on your property, you may be sued. If you are in a profession, such as the medical, legal, or business professions, among others, each decision you make has the potential to […]
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Transferring your interest in a Franchise or Multilevel Marketing Business Have you ever thought, wouldn’t it be great to own your own McDonald’s® or other franchise? McDonald’s® is a recognizable brand with a well-established business model. You could own your own small business without building it from the ground up. To become a franchise owner, […]
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Instead of a will or joint ownership, many people today are replacing those common estate planning tools with a revocable living trust. A revocable living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship (which may be necessary if you become incapacitated) as well as probate (the court process that takes […]
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