When people hear the words “asset protection,” they think of rich individuals with offshore accounts and tax havens. However, in reality, asset protection is for everyone. Using a series of basic techniques, individuals can increase the odds that the wealth they’ve accumulated stays with them and their heirs and not someone else.
Did you know that almost 20 percent of the U.S. population, or more than 55 million Americans, are living in households with two adult generations?
As we approach the end of the year, I often get renewed questions from individuals asking about the rules concerning gifts, taxes and related matters. The following are some important factors to keep in mind as you consider making gifts to family members, charities and other beneficiaries:
Social media is a relatively new phenomenon, and the law is just beginning to catch up with the issues that are being raised for businesses.
Oftentimes, the idea of "estate planning" can seem overwhelming. However, estate planning at its most basic level is simply making decisions about who should receive your assets when you die and creating a plan that efficiently transfers ownership of the assets at the time of your death to your intended beneficiaries.
A growing number of older people don't have a spouse, children or other close relatives. One of the biggest concerns for people in such a situation is how to prepare in case they become disabled or incapacitated.