Which Asset Protection Strategies Are Right for Your Clients?

Posted by Robert L. Arone – How You Can Keep Claims From Threatening Their Property Most of us do not expect to be sued. However, lawsuits are filed every day the courthouses are open. If your clients’ estate plans don’t include adequate asset protection, they could end up losing a substantial amount of their wealth in the event of a claim – even a “frivolous” one. It’s well worth talking to your clients about what asset protection strategies their current plan includes. Many existing plans may need a revamp, while other clients will need to implement a new plan entirely. Shielding their assets and property against legal claims takes sophisticated planning and teamwork. We’re here to help you develop a tailored asset protection strategy for each of your clients. Several issues and strategies merit examination in your asset protection conversation with your clients. Domestic Asset Protection Trust (DAPT): DAPTs can protect

Tomorrow, June 15th, 2018 is World Elder Abuse Awareness Day (WEAAD).

Posted by Gerald J. Turner – This day was launched by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations. Its purpose is to provide an opportunity for communities around the world to promote a better understanding of abuse and neglect of older persons by raising awareness of the cultural, social, economic and demographic processes affecting elders. Approximately 1 in 10 Americans aged 60+ have experienced some form of elder abuse. Some estimates range as high as 5 million elders who are abused each year. One study estimated that only 1 in 14 cases of abuse are reported to authorities. (NCOA) You may be wondering, what exactly is elder abuse? Elder abuse refers to intentional or negligent acts by a caregiver or trusted individual that causes harm to an older person. Elder abuse takes many forms, including: Neglect or Isolation Physical abuse Sexual abuse Financial abuse and

Avoid estate planning horror stories: 2 ways that people fail to plan

Posted by Gerald J. Turner – We take care of our loved ones our entire lives. But, one of the worst things you can do to them is dying without the right estate plan in place.Just like the old adage says: “when we fail to plan, we plan to fail.” People tend to make one of two common mistakes when it comes to planning for their affairs after they die: 1. They do nothing Doing nothing means leaving behind a huge, jumbled mess. Your family will have to deal with handling your affairs without any guidance. People who die without proper estate plans put their families at risk of strife caused by trying to figure out what you would have wanted. Or worse yet, they might misrepresent or disregard what you would have wanted, selfishly trying to gain more for themselves. 2. They go the DIY route with their

Helping Clients Plan From the Heart: Beyond Money in Estate Planning

Many clients and advisors think of estate planning as a logistical process designed to reduce taxes, avoid court, and protect assets. Of course, proper planning does enhance the security of their families and assets, but estate planning is actually much more. Although we write frequently to you about the tax, asset protection, and court-avoiding benefits of estate planning, the process can also be an expression of love, hopes, dreams, and goals for your clients’ loved ones. There are a number of ways your clients can pass on their legacy to their heirs through archival projects, incentivized trusts, charitable contributions, and more. By highlighting and helping deliver on the human side of estate planning, you can strengthen client relationships and increase retention, build a stable base of long-term retention of assets under management, and become known in your community as an advisor that cares about more than just the numbers. Telling

How Remodeling a Client Trust Can Retain Assets Under Management while Saving Clients Money

It’s a common misconception that clients can take a set-it-and-leave-it approach to trusts. Much as houses or office buildings, even those that were originally well-built, must be remodeled or updated from time to time, a trust-centered estate plan can often benefit from a remodel or refresh. Although the principle of trust-centered estate planning has stood the test of time, there are many reasons, such as the recent tax reform, a change in family wealth or circumstances, or just a change in estate planning goals, that may necessitate a remodel for an old trust. Clients gain peace of mind while you get an opportunity to provide value. Why updating old trusts serves both you and your clients Your clients may be missing out on lucrative new opportunities, such as income tax planning opportunities to reduce the impact of the new SALT deduction limitation, or necessary protections against overly aggressive creditors unless

OARLawyers

Which Asset Protection Strategies Are Right for Your Clients?

Tomorrow, June 15th, 2018 is World Elder Abuse Awareness Day (WEAAD).

Avoid estate planning horror stories: 2 ways that people fail to plan

Helping Clients Plan From the Heart: Beyond Money in Estate Planning

How Remodeling a Client Trust Can Retain Assets Under Management while Saving Clients Money

How Can We Help?

© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

Attorney Marketing by Bardorf Legal Marketing

Have A Question?

OARLawyers

Which Asset Protection Strategies Are Right for Your Clients?

Tomorrow, June 15th, 2018 is World Elder Abuse Awareness Day (WEAAD).

Avoid estate planning horror stories: 2 ways that people fail to plan

Helping Clients Plan From the Heart: Beyond Money in Estate Planning

How Remodeling a Client Trust Can Retain Assets Under Management while Saving Clients Money

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How Can We Help?

© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

Attorney Marketing by Bardorf Legal Marketing

Have A Question?