Category Archives: Asset Protection
Can Terms Under One Landlord Survive a Second Landlord
Can a new landlord alter the terms of a rental agreement before the rent period has terminated? The answer is yes and no. It all depends on any pervious actions which may have been waived and the written terms of the agreement. If the previous changes were not placed in writing, the result will… Read More »
Preserving Assets From Nursing Homes
As persons get older there is the fear that they may be placed in a nursing facility and whatever assets they have will be absorbed by such facility leaving nothing for their children. But this does not necessarily have to happen provided you spend some time with the attorney of your choice and devise… Read More »
Before You Sign – Read Carefully
There is an old saying “there is no free lunch.” Recently, I have been bombarded with cards requesting my presence at a lunch or dinner to learn about retirement products called equity indexed annuities and indexed universal life insurance contracts. The name of the products is a mystery and not well understood by most… Read More »
IRA Basics (In Case You Are Not Sure How It Works)
When Individual Retirement Accounts (IRA) were first introduced in the late 1970’s it was generally understood you could place $4,000.00 into a tax deferred account and at some time in the future you would get it back following retirement. That’s about all we knew; fast forward 40 years and how IRA investments work when… Read More »
Avoiding Out of State Taxation When Moving to Florida
I often get asked from individuals who move from the North to Florida what will be the tax implications when Florida becomes their permanent domicile. Under ordinary circumstances the impact is none, but there are always surprises which can be avoided provided you know how a change in domicile is viewed by your old… Read More »
Limited Liability Estate Planning or Tenants by Entirety – Which is Better?
From time to time, I get asked about protecting assets as they move from generation to generation and how to assure certain assets remain within a family’s blood line. Under normal circumstances when an asset, whether cash or real property, transfers to a child or surviving spouse, it is subject to that individual’s discretion… Read More »
CAN I DEVISE MY PROPERTY TO ANYONE?
I frequently have questions from clients who ask if they can devise their property to anyone? The short answer to that question is generally yes; but, with some thoughts about the consequences of doing so. Many times, this comes down to whether siblings, children or a spouse are still alive at the time of… Read More »
Asset Protection and Your Revocable Trust
Lawyers are frequently asked if a client’s non-exempt assets are protected from creditors when placed into an individual’s revocable trust. Sadly, the answer is no. The only means by which a person could have their non-exempt assets protected from creditors when placed into an individual revocable trust is to have a spendthrift clause coupled… Read More »
