Monthly Archive for January, 2010

What is a Family Limited Partnership?

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What is a Family Limited Partnership? The Family Limited Partnership (FLP) is a limited partnership created to transfer ownership of assets to family members with a minimum of tax consequences.  The FLP is designed to lower the value of your investments and assets (for estate tax purposes) while still allowing you to maintain full control […] [Read More]
Categories: General

All I want for Christmas is my Trust Fund Money!!

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All I want for Christmas is my Trust Fund Money!! I wonder how many letters Santa gets with that request.  I would guess that most of those letters would be written by older children, and as humorous as it may sound, these requests are made more often than you think.  Not to Santa though, but […] [Read More]
Categories: General

The Durable Power of Attorney and its effect on your financial matters.

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The Durable Power of Attorney and its effect on your financial matters. A power of Attorney (POA) is a document that, when executed properly, creates a relationship similar to that of an agency, in which one person appoints another person to transact business or perform other financial matters on behalf of the other.  The person […] [Read More]
Categories: General

“Asset Protection”- Are they dirty words?

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Q: “Asset Protection”- Are they dirty words? A:  Rarely in the world of Trusts & Estates do you hear the words “Asset Protection” from long standing & established estate planners and attorneys. Why is that?  For many years asset protection had been touted as a means to avoid responsibility; to dodge lien holders, creditors and […] [Read More]
Categories: General

Should you advise your family and financial institutions about your estate assets?

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Should you advise your family and financial institutions about your estate assets?   One of the biggest issues that estate planning lawyers are faced with is the fact that most people don’t want to think about estate planning, and they don’t want to inform anyone about their financial situation.  For many reasons, that’s understandable. Estate […] [Read More]
Categories: General

Trusts for minors, why do you need them and how do they work?

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Trusts for minors, why do you need them and how do they work?   Other than gifts to minors due to health care concerns, most gifts are typically made due to a parent or grandparent’s desire to fund education or other specific purposes.   Many times such gifts are designed to protect against unwise spending or […] [Read More]
Categories: General