Asset protection is an important consideration for small business people, investors, and others. You should take the right steps to protect the resources for your own purposes, and you will also preserve your legacy for the benefit of your loved ones. Let’s look at some of the different ways that you can keep your resources out of harm’s way. Small Business Asset Protection If you conduct business on your own as a sole proprietor, you are taking a risk. Your personal property would be in … [Read more...] about Protect Your Assets to Preserve Your Legacy
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Taxation of Nongrantor Trusts
“Nongrantor” trusts are trusts which aren’t taxed to a substantial owner pursuant to the grantor trust rules. Such a trust must file its own tax return and the income of the trust would be taxed to it, unless distributed. Read on to learn more. … [Read more...] about Taxation of Nongrantor Trusts
Roth IRAs Can Be a Great Planning Strategy: Basics
Roth IRAs can be a great planning strategy. They can save taxes and help in many ways. Read on to learn more. … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Basics
Trust Administration: Legal Assistance Is Invaluable
When you are engaged in the estate planning process, you should consider the tasks that must be completed after you pass away to bring your wishes to fruition. If you have a basic understanding of the estate administration process, you can make informed decisions. As we have pointed out in a recent post, a simple will is not always the best asset transfer vehicle to utilize. A trust of some kind can be a superior choice, and a living trust is the device that is ideal for the widest range of … [Read more...] about Trust Administration: Legal Assistance Is Invaluable
Original Infrastructure Plan Would Boost In-Home Care for Seniors
We keep a finger on the pulse of legislative measures that can have an impact on government benefits for senior citizens. The Biden administration has proposed some changes that would be welcomed by most elders, and one of them was included in the original infrastructure plan. In-Home Care If you ever need help with your activities of daily living, would you prefer to receive the care in your own home? Many people would say yes, and without question, the familiar surroundings can be … [Read more...] about Original Infrastructure Plan Would Boost In-Home Care for Seniors
