There are a lot of ways to go about protecting your assets. But not all of them are created equally. You need a plan that suits your needs and protects your wealth in an effective way. However, if you’re not careful in how you go about doing that, then you could face...
Asset Protection Planning
The benefits of an irrevocable trust
New Jersey residents who have accumulated a fair amount of assets may consider putting them into a trust for their intended beneficiaries. There are two general types of trust: revocable and irrevocable. One of the biggest differences between the two types of trusts...
Effective asset protection planning requires up to date thinking
In the past, New Jersey residents who were preparing for the future and thinking about asset protection as part of their estate plan needed to focus on the basics. That included cash, investments, retirement accounts, real estate, collectibles and items of sentimental...
The advantages of a property trust
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....
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...