Category Archives: Asset Protection
What To Know About Naming Beneficiary Designations Following The Secure Act
Tax advantaged accounts, such as IRAs and qualified retirement plans like 403(b)s or 401(k)s require specific estate planning strategies. Creating a trust in and of itself may not be enough to protect the estate planning intentions of the creator of that trust. Revocable living trusts are usually funded with a person’s real estate, non-retirement… Read More »
Three Steps You Can Take to Add Asset Protection Planning to Your Virginia Estate Plan
Have you thought about the possibility of your assets being subjected to outside risks or threats? This could include lawsuits filed by other parties or potential creditor claims. There are several different steps you can take with the help of an experienced Virginia asset protection planning lawyer to incorporate asset protection planning strategies that… Read More »
How Does Asset Protection Planning Fit into Your Virginia Estate?
Asset protection planning refers to the proactive steps that you take to protect your current assets from future divorce, judgements, lawsuits or creditors. There are many different legal techniques that can be used to help protect these assets or even deter people from filing a lawsuit in the first place. You can also obtain… Read More »
Trillions of Dollars Will Be Transferred Soon. Are You Ready?
High net worth wealth transfer is top of line for many estate planning and asset protection planning attorneys today. Across the world, more than $8.6 trillion in high net worth wealth will change hands in the coming decades. Nearly 40% of today’s high net worth investors are over age 60, and many of them… Read More »
Does A Trust Offer Asset Protection?
There are numerous different reasons why it might make sense to establish a trust for the purpose of meeting your estate planning goals. Far too many people misunderstand how trusts can be appropriately used and this means that the trust never gets funded and therefore is never able to pass on the assets to… Read More »
Are You Ignoring These Digital Assets?
There are plenty of different studies and toolkits that recommend incorporating digital estate planning but it is only as good as the value of your comprehensive planning. Overlooking common digital accounts could lead to major mistakes if you were to suddenly pass away. Research found that many participants have digital media assets in the… Read More »
Do You Have Inherited Assets? Estate Planning is Even More Important
Estate planning can be complicated no matter who you are, but knowing how your assets and investments will be divided among your beneficiaries after passing on can give you a lot of peace of mind and it can also decrease your stress level about the potential pitfalls that your beneficiaries might have to cope… Read More »
More Americans Are Passing Away with Debt Than Ever
A recent study of 220 million consumers in Experian’s File One database, indicated that up to 73% of consumers are passing away with debt in high numbers. For those individuals who do not have a home loan, the average debt was $12,875. However, consumers with a mortgage carried approximately $61,554 in debt. You may… Read More »
Without A Will, Legislature’s Guesses Hold Sway
Last Will and Testament Most people should say that when it comes to dying without a will, there’s no way. But far too many folks manage do find a way, and this can have potentially devastating consequences, according to the American Bar Association. “If you die intestate, without a will, your state’s laws of… Read More »
Widows Face Special Issues In Financial Planning
Close-up of documentsMany older couples, those approaching or even well past retirement age, have wisely made financial plans for the rest of their lives together. What few do, because it’s just too emotionally difficult in most cases, is make further plans for one or the other of them to carry on alone. More often… Read More »