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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Real estate can take on different forms of ownership, and understanding how your real estate is owned, or “titled,” can help you determine how much control you have over your asset. You can better understand how susceptible your property is to creditors, and what will happen to it upon your death. Below are some common […]
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Between June 30, 2023, and September 30, 2024, the United States experienced a significant increase in bankruptcy filings. For the 12-month period ending June 30, 2024, there were 486,613 bankruptcy cases filed, marking a 16.2% rise from the 418,724 cases filed in the previous year. This upward trend continued, with 504,112 filings recorded for the […]
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What Impact Will It Have On You and the Beneficiaries of Your Retirement Accounts Post Your Death? On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act), effective January 1, 2020. The SECURE Act contains, by far, the most significant changes to retirement planning in a […]
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Airbnb and similar alternatives to hotel stays are growing in popularity among homeowners and vacationers. If you’re considering opening your home to travelers, or if you have a home or other rental property that generates income, the following asset protection and estate planning considerations will be helpful. Owners Need Protection from Liability In any rental […]
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A revocable living trust (RLT) is a commonly used estate planning tool. But what exactly are RLTs, and what do they accomplish? Who do they impact, and how can they be changed? What are Revocable Living Trusts? Trusts are legal entities that hold title to property for the benefit of a living person, and a […]
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No grieving family wants to add identity theft to their list of worries during an already difficult time. Unfortunately, a growing number of identity thieves have targeted the identities of deceased people and older adults, using names and other identifying information to obtain credit cards, loans, refunds based on fraudulent tax returns, and even false […]
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The Senate is currently reviewing new legislation that will presumably help seniors prepare for their golden years. Better known as the SECURE Act, Setting Every Community Up for Retirement Enhancement seeks to make Individual Retirement Accounts (IRAs) more appealing to Americans of all backgrounds. Though the legislation has not yet cleared the Senate, the SECURE […]
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Asset protection planning is a practice area that’s far from new; even if you’ve never heard the term before, you’ve probably engaged in some form of traditional asset protection planning at some point during your life. In fact, no matter the words you used to describe it, you probably have several forms of asset protection […]
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