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...
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...
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...
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...
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...
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...
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...
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...
Many individuals set up a revocable living trust to provide for their loved ones after they're gone. While many people assume that they have to have a tremendous amount of wealth to set up one of these, they don't. You can take some of your most valuable assets and...
Irrevocable trusts are those that generally cannot be modified once they've been formed and funded. This means that even the grantor, or the person who sets it up, generally can't ask to have the property that they've placed into the trust back. That individual can't...
