A group trust is a trust settled (created) by four or more individuals (for this purpose, a married couple counts as one individual). This technique was developed by Donlevy-Rosen & Rosen, P.A. in 2004 in response to a common problem faced by clients: often a client expressed concern not only about his/her own financial well-being, but also about others participating with the client in a business venture or other common pursuit.
Nov
01
Entity Trusts: Special Planning Technique Examined
An entity trust is a trust settled (created) by an entity, such as a corporation, limited liability company, trust, or partnership. An entity trust might also be settled by an appropriate group of entities, such as a related or commonly owned group of corporations, limited liability companies, trusts, or partnerships.
Apr
01
IRA Exemptions: Supreme Court Settled the Matter?
On April 4, 2005, the United States Supreme Court handed down its decision in Rousey v. Jacoway, a case addressing the issue of exempting individual retirement accounts (IRAs) from federal bankruptcy proceedings. The decision was widely hailed in the financial press, with such headlines as “High Court Rules IRAs Untouchable – Unanimous Decision Means Retirement Savings Are Protected From Creditors”.
Jun
01
State Exemption Laws: Pitfalls to Avoid (Part 2)
All states provide some degree of “asset protection” through their state exemption laws. Such laws shield certain types of assets, such as homestead, wages, annuities, life insurance and retirement funds from creditor claims. This issue of the APN is the second of two parts addressing the most frequent errors people make in attempting to implement asset protection on their own by using (or failing to use) state exemption laws.
May
01
State Exemption Laws: Pitfalls to Avoid (Part 1)
All states provide some degree of “asset protection” through state exemption laws which shield certain types of assets, such as homestead, wages, annuities, life insurance and retirement funds (“exempt assets”). This issue of the APN is the first of two parts addressing the most frequent failings of individuals attempting to implement asset protection on their own by using (or failing to properly use) state exemption laws.
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