From the category archives:

Wealth Protection

Estate Tax Hokey Pokey

September 24, 2009
Photo by goldberg

The future of the Federal Estate Tax remains clouded.
We have been keeping our ear to the ground (actually we have been calling people and searching the Web for clues) to help our advisors predict what will happen with the Estate Tax.
As most of you know, under the 2001 Economic Growth and Tax Reconciliation Act, the [...]

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Trust Terminology Part 3: Several Ways to Trust

August 21, 2009
istock_000005013722small

This year, I provided you with a kind of “cheat sheet” that explained some basic Trust terminology, followed by a second article that defined an Irrevocable Life Insurance Trust (ILIT), a Qualified Terminable Interest Trust (QTIP), and an Intentionally Defective Grantor Trust (IDGT).
This is the third installment in our series on basic trust terminology.
The goal [...]

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What Kind of Person Should be Your Trustee?

July 30, 2009
Photo by Joi

IIf you are a business owner, then you understand the importance of earning a client’s trust. They want a sense of your integrity and experience level. They want to know your motives are not just about making a buck and that you will look out for their best interests.
When you create a Revocable Living Trust, [...]

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How to Choose a Financial Planner

June 30, 2009
Photo by nikitab

This Wall Street Journal online guide is well written and has lots of good advice anyone looking to hire a financial planner.
Here is a direct quote from the guide’s main points:

Look for a financial adviser who is a certified financial planner (CFP). They’re licensed and regulated, plus take mandatory classes on different aspects of financial [...]

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Who Will Run Your Business After You’re Gone?

June 25, 2009
Next in line for the throne

Many of my clients have spent decades building businesses right alongside raising families. They’re entrepreneurs, and I love that about them.
For as much calculating thought as they put into running successful businesses, many have never put any into who’s going to run the place after they are gone – whether by retirement or death.
They haven’t [...]

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Pre-Plan to Combat Rising Costs of Long-Term Care

June 15, 2009
Photo by DerrickT

One of the greatest challenges many of my clients face is how to protect their families from the rising cost of long term care – both for themselves when they reach retirement and for elderly parents.
For example, the average cost of staying in a Florida nursing home is between $5,000 to $6,500 per month, or [...]

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Defective Grantor Trusts Get More Attractive

April 9, 2009
Economic Recession

The Wall Street Journal has published an excellent analysis of the effectiveness of Intentionally Defective Grantor Trusts during an economic recession. Unusual Trusts Gain Appeal in Unusual Time – WSJ.com.
While these trusts carry risks and are often scrutinized by the IRS, estate planning lawyers are seeing an increased interest in them this year. With proper [...]

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What Parents Need to Know About Joint Tenancy

April 3, 2009
Joint Tenancy

When most of you bought your first home, you probably signed a deed as a joint tenant next to your spouse’s signature. That’s the way your parents and grandparents did it, and the real estate agent told you it would to protect the surviving spouse from probate court after one of you dies.
It’s not unusual [...]

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I Do. I Don’t. I Do Again.

March 25, 2009
Prenuptial Agreement

A recent Florida case illustrates one big reason why clients need to constantly update their planning.
Although this case is unusual, it really does a great job of showing how life changes can destroy the best of plans or intentions.
Marriage Made for a Soap Opera
When Howard Herpich and Svetlana Ozerova married [...]

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Rocky Economy is a Good Time to Reduce Your Estate Tax Burden

February 12, 2009

In the past several weeks, I’ve shared some powerful planning strategies with you in hopes of helping you protect and transfer wealth during these tough times.Over the last year, many families have suffered big hits on their stock and real estate portfolios. I can understand why they froze or drastically slowed down their financial dealings. [...]

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