Asset Protection

Debt Inheritance: Credit Cards, Tax, and Other Liabilities

Posted on: July 14th, 2014
An individual may accumulate assets during his or her lifetime, but debt may reduce or eliminate an inheritance family members expected to receive. Loved ones may “inherit” debt if a decedent lacked effective estate planning, beneficiary designation updates, and asset protection....

Tax Requirements for North Carolina Trusts

Posted on: July 10th, 2014
In many states, an important factor in determining whether the trust is taxable is where the beneficiaries, settlor, and trustees are domiciled. A tax attorney may help determine how trust assets might need to be structured respective to a state’s tax laws to achieve the most favorable tax treatment....

Timing Prenuptial Agreements

Posted on: July 3rd, 2014
Marriage offers the union of love, and it also involves the merging of assets, new tax requirements, and legal entitlements. As prospective spouses navigate asset management prior to their wedding day, how far in advance should prenuptial agreements be prepared? ...

Protect Assets: Liability or Malpractice Insurance May Not Be Enough

Posted on: June 26th, 2014
Having liability or malpractice insurance may be a requirement in some professions, and in other cases these policies are obtained on a voluntary basis. Depending on the line of work, liability insurance policies may be an expensive annual cost. ...

Named in a Power of Attorney for a Foreign Account? FBAR Rules Required

Posted on: June 10th, 2014
Individuals may or may not know if they are listed as an agent of a power of attorney, but they are still subject to Foreign Bank and Financial Accounts (FBAR) requirements....

Tennessee is #3 for Domestic Asset Protection Trusts in 2014

Posted on: May 27th, 2014
A year ago Tennessee tied for the fourth spot in Steve Oshins’ AnnualDomestic Asset Protection Trust State Rankings. Last summer Oshinsupdated the rankings after pending legislation failed to pass, and Tennessee jumped a spot—tied for third with Ohio....
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