Trusts are an estate planning tool and can include financial products like stocks and bonds or physical property such as land, jewelry, or cars. Trusts also have advantages for protecting your assets while you are alive and for passing on your property after you die....
Asset Protection Planning
Who should consider asset protection planning?
New Jersey residents who have been fortunate enough to amass some wealth often will want to be sure that as much of that fortune as possible gets passed down to their loved ones. In order to accomplish this, the family may need to consider detailed asset protection...
How can I legally protect my assets?
For high-net-worth families, estate planning and asset protection planning is extremely important because that is the only way to eliminate (or minimize) taxes, the chances for a lawsuit and to protect the heirs. After all, a family has spent a lifetime building up...
What is a fraudulent conveyance?
A fraudulent conveyance is a legal term to describe when a person disposes of money or other property to avoid a debt. The modern term for fraudulent conveyances in New Jersey law is voidable transactions. No matter which term one uses, it is important to remember...
What is a dynasty trust and how could it help me?
As they age and approach retirement, many New Jersey residents with wealth will want to start thinking carefully about how to pass it down to their loved ones. Generally speaking, trusts of various types are instruments these people can use both to cut down on the...
How can an LLC help with asset protection?
There are many other reasons why residents of this state who are of means will want to consider asset protection. Aside from state or federal taxes, a family legacy can be decimated because of a divorce or because of lawsuits at the hands of disgruntled family members...
Types of wealth protection in New Jersey and beyond
Asset and estate protection tools provide families and businesses the flexibility they need to secure their wealth. Unexpected changes like death taxes or failing marriages should not penalize a person who prepares. New Jersey has plenty of trust options for people...
Should I add my spouse to my LLC?
Limited liability corporations serve many purposes, but one of the most important is in the name. These business structures limit personal liability of the members of the LLC. If you are considering adding your spouse to your company's list of owners, liability would...
QTIP trusts and blended families
People who want to create or review their estate plan will always want to do so with an eye on their current situation and any changes that may have taken place or that may be on the horizon. These changes may pertain to their assets or debts, such as the purchase of...
What protections do discretionary lifetime trusts provide?
There are many different types of trusts that exist. A discretionary one is quite common. It's essentially an asset protection tool that allows for a grantor to appoint a trustee to make distributions. This type of trust is also different from other types of them in...
