Articles
Who Should I List as Trustee of My Trust?
If you are establishing an estate plan, it is likely that you will have a Revocable Living Trust (“Trust”) as the primary document that outlines who will receive your assets upon your death and what conditions, if any, will be placed on those assets. As many persons...
MYTHS AND FACTS ABOUT USING IRA TRUSTS
I've had a number of inquiries lately about when to use a separate IRA Trust as the beneficiary of your IRA. IRAs, like bank and savings accounts, are passed on to the heirs of the deceased IRA owner according to the beneficiary designation form that is on file with...
YOU’VE BEEN NAMED AS EXECUTOR OR TRUSTEE TO A DECEASED PERSON’S ESTATE: NOW WHAT?
If you’ve been named as an executor in a will or as a trustee in a trust, you have some important responsibilities and obligations that arise upon the death of a loved one. Here’s a quick list of items to consider as you begin managing a deceased persons estate. 1....
What is a Joint Venture Agreement and When Should You Use It?
A Joint Venture Agreement (aka, "JV Agreement") is a document many business owners and investors should become familiar with. In short, a JV Agreement is a contract between two or more parties where the parties outline the venture, who is providing what (money,...
3 CRUCIAL IRA DEADLINES ON APRIL 15th
April 15th is only one-day away and as a result I wanted to remind everyone of three crucial deadlines that apply to your IRA on April 15th. In addition to the April 15th deadline, I also wanted to note which deadlines can be extended. 1. Contributions - Roth IRA and...
WASHINGTON CONFERENCE UPDATE ON SELF DIRECTED IRAs FROM THE IRS/DOL
I'm presently attending and speaking at the Retirement Industry Trust Association's (RITA) conference in Washington, D.C. RITA is the national association that represents the self directed IRA industry and has most major companies in the industry as members. I have...
RESOLVING TAX DISPUTES WITH THE IRS: WHAT ARE MY OPTIONS?
The IRS has some significant collection tools it can use to collect federal taxes. The IRS can lien assets such as your home, seize cash in bank accounts and garnish wages. Although the IRS does have these significant collection tools, there are also numerous tax...
401K MILLIONAIRE CLUB IS GROWING: HOW DID THEY GET THERE?
Fidelity Investments, the largest provider of 401(k) plans, recently announced data on their 13 million 401(k) customers accounts that provides an insight into saving for retirement. One of the most interesting items from the report itself was the fact that 401(k)...
TALKING TO YOUR LAWYER, WHAT IS ATTORNEY CLIENT PRIVILEGED?
When planning your business and tax structure with your lawyer, it is important to understand what is privileged and what is not. Often times, clients divulge information to their lawyer and wonder whether that information is "attorney-client privileged" or not....
LLC OR CORPORATION VERSUS UMBRELLA POLICY
Many real estate investors and business owners often ask whether they should use an umbrella insurance policy or an LLC/Corporation to protect them from liabilities that may arise on their rental property or business. To understand which you should use you first must...
