Especially if you own a business or commercial property, asset protection can be a big concern for you. The possibility of legal claims and constant existence of creditors make it even more important to have an asset protection plan so that you don t run the risk of losing everything through some unexpected turn of events. [ ] The post Sacramento Asset Protection Attorney on Best Strategies appeared first on Northern California Center for Estate Planning and Elder Law.
A Domestic Asset Protection Trust has many benefits but some asset protection attorneys recommend against them because of issues that may arise.
This examines the basics of asset protection. It includes some specific strategies to reduce asset protection risk. The post Basics of Estate Planning: Asset Protection appeared first on Northern California Center for Estate Planning and Elder Law.
Asset protection can be big concern for you, especially if you own a business or commercial property. The possibility of legal claims and constant existence of creditors make it even more important to have an asset protection plan so that you don t run the risk of losing everything through some unexpected turn of events. There [ ] The post Let an Asset Protection Lawyer Show you How to Protect your Assets appeared first on Northern California Center for Estate Planning and Elder Law.
Common goals of many folks is to build up their estate assets so that they can live comfortably during the Golden Years and – hopefully — have a nest egg left to pass down to their children, grandchildren, and/or other loved ones. These goals could be threatened, however, if the hard earned assets are put at risk – [ ] The post Asset Protection Planning: Should You Be Worried? appeared first on Northern California Center for Estate Planning and Elder Law.
When you are devising a financial plan as a business owner, you should take asset protection into consideration. There are litigious types out there who look for successful targets, and you have to be proactive if you want to make sure that your assets are protected from legal actions. With the above in mind, we will look at family limited partnerships in this blog post. Asset Protection for Business Owners While anyone can be sued, certain people who are involved in businesses may be more vulnerable. Landlords would fall into this category. Tenants or visitors could potentially get injured on rented property, and this would be a constant risk. Asset protection is also important for physicians and other professionals. Doctors are viewed as “deep pocket targets” by litigious types, and malpractice suits are not uncommon. The legal device called a family limited partnership could potentially provide a solution. If you establish a family limited partnership, you would be the general
It would be logical to go through life with the understanding that your health related expenses will be covered when you are a senior citizen if you will be eligible for Medicare coverage. You qualify for Medicare through the accumulation of retirement credits. These credits are earned when you pay FICA or self-employment taxes. It takes 40 credits to earn eligibility, and you can accumulate as many as four credits in a year. This year, you earn one credit for every $1220 that you earn, so when you do the math, you can see that the requirements are very modest. Medicare does not pay for everything in full, and this is something to be well aware of when you are creating a retirement budget. There are deductibles, co-payments, and premiums that you must cover yourself. In most cases, these out-of-pocket expenses are relatively manageable. However, there is a situation that most seniors will face that is not covered at all. Many senior citizens will someday need custodial long-term care