Protecting Risky Assets And Your Primary Residence
Understanding How to Manage Risky Assets If you are a doctor and you own a practice this is probably one of your riskiest assets. What about your office building? How about real estate? If your office building or real estate have equity or are completely paid for, these are considered valuable…
How the Insurance Industry Really Works
Douglass Lodmell now booking 2012-2013 Speaking Schedule
Douglass is now booking for the 2012 - 2013 year and can be an extremely informative and entertaining speaker for your conference. In addition to being one of the nation's experienced attorney in field of Asset Protection, he is also an expert on Employment Law and practices and how to…
What Matters in an Attorney?
What really matters in an attorney? Stated simply - "The capacity to Relate to you as a client." Legal problems are like all problems, they are there to teach us something. The bigger the problem, the bigger the lesson! And when it comes to legal and financial stress, I have…
S-Corporation Questions
Recently we've encountered several situations where clients own corporate shares that have made a subchapter S election. Electing to have your corporation treated as an S-corporation has some pros and cons. First, the pros. From the standpoint of taxation, the S-election essentially makes your corporation "pass through" for purposes of…
Do I need Asset Protection for a Mortgage Default?
I am going to let you know up front that this is a slight rant on what I am seeing in the Asset Protection arena. Particularly with respect to planning for people who are facing a mortgage default situation. For most people this is a very scary situation and puts…
Window of Opportunity Likely Closing
A very rare window of opportunity is closing, and it's closing very quickly. Currently, the federal gift tax exemption allows you to gift up to $5 million ($10 million for married couples) without incurring a gift tax. This applies if you actually gift your assets now, and it applies equally…
Irrevocable Life Insurance Trusts
Life insurance trusts are typically irrevocable, non-amendable trusts that own one or more life insurance policies in order to keep death benefit proceeds outside one's estate and, therefore, avoid estate taxes. Avoiding estate taxes hasn't been an overriding concern for the last couple years, since the exemption has been $10…