Domestic and Foreign Trust Differences

A brief look at the history of the Trust and Trustee. The differences of a domestic onshore trust and the foreign trust. Tax consequences vested with tax jurisdiction under which trust is created. Factors of trusts including role of Grantor, Trust, Trustee, Beneficiaries, provision of successor Trustee, compensation of Trustee services, exclude Beneficiaries, incompetent Beneficiaries and power to merge other Trusts.

Good Intentions Could Lead to Family Feuds

Good Intentions Could Lead to Family Feuds

Estate - How Do You Like These Odds?

Are you a gambler? Do you like to play the odds? Here are some real-life odds for you to consider: 90% of people become incompetent before they die! Of course, your spouse might not think you're of sound mind right now, but that's beside the point! If you don't take action, you could needlessly cost your spouse thousands of dollars and countless headaches in order for them to make decisions on your behalf.

Estate - To Trust Or Not To Trust That Is The Question!

Living Trusts have become very popular and are being heavily promoted to seniors. Should you Trust or not Trust? That is the question. Read on to learn some simple guidelines that will help you know whether a Living Trust may be right for you and how to go about getting one if needed.

8 Reasons for Choosing Foreign or Offshore Trusts

Discusses eight reasons for taking advantage of foreign or offshore trusts to lower explicit taxation, increase after-tax profit, safeguarding assets whilst taking advantage of specific Offshore Financial Centers. Why domestic asset protection is not enough. Alaska and Delaware compete with offshore trusts.

Nevis LLC (Foreign LLC) Protects Assets and Avoids Fraudulent Conveyance

How the Nevis Limited Liability Company, a Foreign LLC, can protect one's assets and still avoid fraudulent conveyance if the member's interest remains proportionate to the contributed capital. Creditor can issue charge order against the Nevis LLC. Mentions how Foreign Limited Liability Company and International Business Company (IBC) are used for asset protection and tax haven by Michael Jackson. Defines bearer shares.

What Is Good Asset Protection? Part 1

Part 1: Steps to good asset protection and wealth preservation. Know these facts of asset protection. Discusses what assets to protect and consider, domestic asset protection and foreign or offshore asset protection strategies and platforms. From Grantor Trust and Non-Grantor Trust to Foreign Asset Protection Trust (FAPT) and International Business Company (IBC). How to avoid fraudulent conveyance?

Asset protection with Joint Tenancy, Tenancy in Common, Tenancy in Entirety & Community Property

Protecting assets by Joint Tenancy, Tenants in Common, Tenancy in Entirety or Community Property have many disadvantages. Loss of step-up in basis upon the death of the first Tenant; loss of estate tax protection; possible exposure of the assets; Joint Tenancy disinherits all other heirs; possibility of a gift tax consequence; Joint Tenancy supersedes any trust with the loss of all trust benefits.

How to Find the Best Estate Planning Attorney for Your Family

The importance of proper estate planning need not be stressed. When you hear the word estate, it refers to everything you worked hard for. Your home, money in bank accounts, investments in stocks, mutual funds and bonds, cars, life insurance, business and others. Without proper estate planning, your beneficiaries will most likely be inconvenienced with all the requirements in settling your estate.

ATO Gunning For SMSF Non-Compliance

We all know the only certainties in life are death and taxes... however, it seems that some SMSF trustees have forgotten this golden rule, when they got a tap on the shoulder from the ATO. It seems that they have let the SMSF become uncompliant since the changes in law of 1 July 2005, and the ATO has been getting gradually stricter on their policing of this matter. Christopher Balmford from Cleardocs Australia gives us an overview of the situation, along with a friendly warning to all fund holders to keep on top of things, or else...

What is Values-Based Wealth Planning?

No one over age 18 today will live to see the end of the 21st Century. The legacy you leave your children will be reflected in the values they learn about the role of money and property. Here are ways to plan that give your heirs a perspective that extends far beyond the dollar value of what you pass on to them by way of a financial inheritance.

Revocable Trust (Revocable Living Trust) vs. Irrevocable Trusts

Explain major differences between revocable vs. irrevocable trusts. About the benefits of a revocable trust (revocable living trust) vs. benefits of an irrevocable trust.

Asset Protection Trust

About asset protection as trust; Define Grantor.

Special Needs Children Need a Special Needs Trust

Many parents worry about providing for a child with emotional, physical or mental challenges as they grow up. If the child is receiving government benefits, careful planning can provide for the child without disrupting your own retirement planning or the flow of government paid benefits for the child after you're gone.

Asset Protection In Relation To Medicaid And Bankruptcy

Advocating the proper asset protection measure is of crucial importance.