What are the Advantages of a Business Trust?
July 26, 2022
Trusts could be an incredibly powerful tool to help business owners protect their business and reach their wealth goals.
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Trusts could be an incredibly powerful tool to help business owners protect their business and reach their wealth goals.
Perhaps the largest number of people who may benefit from asset protection planning are those who are at most mildly concerned about asset protection issues, or not even aware of the need for such planning.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
When combining finances as a new family, there’s lots to consider. To make the best choices, here are six key areas to plan ahead and consider.
Some people draft wills or trusts to ensure that the loved ones they will eventually leave behind own a piece of the properties the former will be leaving behind in case of their death.
Good Medicaid planning ahead of time in drafting the judgment will be critical in determining whether the family – or the state – will be awarded more or less of the judgment.
If you have valuable artwork, your decision on how to leave your artwork can generally be broken down into one of (or a combination of) three options, preferably with a view of keeping in mind the estate and income tax consequences of your plan during life and after death.
In certain cases, the Louisiana Affidavit of Small Succession can allow the transfer of property without a judicial succession, saving time and money. But strict qualification rules apply and it may not work in every situation even if you qualify. A similar form can be used to transfer titled vehicles, trailers (including mobile homes) and boats which is given to the DMV or Department of Wildlife and Fisheries.
Of course, just because you have a living trust doesn’t mean you’re all set. Here are a few of the most common mistakes people make with their living trusts.
Use these suggestions to boost the balance in your retirement nest egg.
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