The Three Main Causes Of Conflict In An Estate Settlement And What To Do About Them

Most attorneys believe that the majority of problems related to dividing an estate should be solved outside of the courtroom – in other words, prevented.

What Is An Estate Plan?

There are many misunderstandings about Estate Plans and who should have them. Many people think that an estate means a large tract of land and great wealth and extensive personal property that is very valuable, such as vintage antiques and collectibles.

Division Without Divisiveness

You've probably heard the horror stories - how sometimes families are torn apart by hard feelings stemming from the inequitable division of estates or even from the perception that the division was not fair. As an outside observer, it might be easy to dismiss such cases as pointless, petty, and avoidable. But how easy it is for all of us to repeat the same mistakes that led to these tragic consequences!

Domestic and Foreign Trust Differences

A brief look at the history of the Trust and Trustee. The differences of a domestic onshore trust and the foreign trust. Tax consequences vested with tax jurisdiction under which trust is created. Factors of trusts including role of Grantor, Trust, Trustee, Beneficiaries, provision of successor Trustee, compensation of Trustee services, exclude Beneficiaries, incompetent Beneficiaries and power to merge other Trusts.

Estate - Beyond The Living Will

Living wills have received a great deal of attention due to the recent Terry Schiavo situation. Because her end-of-life wishes were in dispute, family members battled each other in the courts over her treatment and care. By having a proper Living Will, you can avoid such confusion. But a Living Will doesn’t ensure you have all your bases covered. There are other equally important documents you must have in place.

Estate - When The Battle Begins At Home

I received a heart-wrenching phone call from a young soldier recently. His mother had just died and he was left with the responsibility of settling her estate. He had no idea the difficulties he would encounter-not on the battlefield but here in East Tennessee. The worst part is it could have been completely avoided.

Private Annuity Trust, Ensured Installment Sale (Structured Sale)

Private Annuity Trust is using assets not money to fund annuity. Ensured Installment Sale (Structured Sale), developed by Allstate Insurance Company, replaces Private Annuity Trust after Oct 18, 2006 and sells assets to insurance company. Transfer of ownership of home or land to a Trust. How the IRS estimates annuity payments? No estate tax, income tax, gift tax on Private Annuity Trust transfer.

Fraudulent Conveyance, Civil Conspiracy, Uniform Fraudulent Transfer Act

What is Fraudulent Conveyance? What is Civil Conspiracy? What does the Uniform Fraudulent Transfer Act state? Example of Single Member LLC units as shares of ownership in public stocks. Asset protection is placing title of assets in another legal entity. List of common methods of holding assets by individuals and possible legal entities.

Charitable Remainder Trust - Having Your Cake & Eating It Too

Using this method of charitable giving, you can actually give your assets away and keep them. It's like having your cake and eating it, too!

Charitable Trust Funds

Charitable trust funds provide tax benefits as well as fund charities.

This Is Very Useful Information On Offshore Asset Protection Trusts

When you look into Offshore Asset Protection Trust you are likely to wonder what it is and why you might consider one. An Offshore Asset Protection Trust is a way for you to protect your Foreign Assets not on American Soil. Offshore Asset are where you have a Bank account in another, own property that is not on U.S. Soil or U.S. owned lands.

Certificates of Deposit - What is it?

Define Certificate of Deposit (aka CD) and what is a domestic CD and what are the International CD options such as Offshore CD or Eurodollar Certificates of Deposit. The advantages of International CD are higher interest rates, income tax benefits, anonymity. BNP, Banco Nacional do Panama. London Interbank Offered Rate (LIBOR) discussed.

Living Trust Taxation Tips

A living trust determines how assets transferred to it are handled after your death.

Death and Debt

What about your debts and when you die? Who is responsible for any outstanding bills to be paid when the person owing them has died? Does one get off scott free? Do their relatives have to pay for the debts their loved one had accumulated?

Living Trusts - Dying Isn't What It Used To Be

A living trust can help save the expense and delay of probate - which can last three years and take up to 10% of your estate's value.