January 30, 2013 |
Pitfalls of Joint Ownership
One popular estate tax avoidance device is joint ownership of property between generations. Unfortunately, this device often leads to an ugly and expensive family feud. ...
Learn MorePitfalls of Joint Ownership
One popular estate tax avoidance device is joint ownership of property between generations. Unfortunately, this device often leads to an ugly and expensive family feud. An article in Forbes discusses common pitfalls to be wary of when considering joint ownership between generations.
When you become a joint owner with another person, you become vulnerable to their creditors. Due to the very nature of joint ownership, one owner’s creditors can attempt to satisfy their claim through some or all of the shared assets. Similarly, if the spouse of one joint owner files for divorce, he or she may claim that the joint assets are part of the marital estate.
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Blog
January 23, 2013 |
Using a Flexible Irrevocable Life Insurance Trust to Shelter Life-Insurance Proceeds
Many people do not realize that life insurance proceeds are in fact taxed. Although these proceeds escape income taxes, they ARE counted as part of ...
Learn MoreJanuary 16, 2013 |
What is a Family Limited Partnership (or Family Limited Liability Company)?
There are many sophisticated estate planning strategies available to affluent families to ensure that the majority of their hard earned money stays within the family, ...
Learn MoreJanuary 9, 2013 |
Cutting the Estate Tax Burden for Private Company Owners
Owners of private companies often hope that the business they have built will benefit their families in the long term. No matter whether you plan ...
Learn MoreJanuary 3, 2013 |
Estate Planning Tips for Female Entrepreneurs
For female entrepreneurs who juggle running a business as well as a family, it is often hard to find time to create an estate plan. ...
Learn MoreDecember 26, 2012 |
Increase the Value of Your Charitable Giving
As the economy continues to heal, charitable giving is again growing. Following two consecutive years of decline, charitable giving increased 3.8 percent from 2009 to ...
Learn MoreDecember 19, 2012 |
Succession Plans for Franchises
Although most people do not enter into a franchise agreement with the goal of creating a family business, children are increasingly choosing to succeed their ...
Learn MoreDecember 12, 2012 |
Death of Equities? Not So Fast
Many a Wall Street Guru has opined that the American public has simply given up on stocks. To make their case, they point to low ...
Learn MoreDecember 8, 2012 |
T’was The Month Before ‘Cliff’-mas…
As I attended a Christmas play with my family last weekend (TWAS THE NIGHT BEFORE CHRISTMAS @ the Kelsey Theater), I tried for a couple of ...
Learn MoreDecember 5, 2012 |
Protecting Your Assets From Potential Lawsuits
While many people write off asset protection as a mechanism for the very wealthy, the reality is that it would be worthwhile for middle class ...
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