Articles Posted in asset protection

How Much? Here is an updated calculator from Turbotax: Stimulus Check Calculator When Will Checks Arrive? If you signed up for direct deposit on either your 2018 or 2019 tax return, the IRS reportedly will start issuing electronic deposits on April 9 and they should show up in your bank account by April 14. However,…

By: Jacqueline R. Bowden Gold, Esq. and Phil Rarick, Esq. The Coronavirus has left the US economy in a stand still. It has forced businesses to shut down and events to be cancelled or postponed across the nation – creating significant anxiety for small business owners. During these times, many businesses are unable to or…

By Phillip B. Rarick, Esq., Miami Trust Attorney State laws provide numerous legal opportunities for protecting your family’s hard earned wealth. See my recent article: Asset Protection for the Small Business Owner: 7 Key Strategies. An important domestic strategy is a Domestic Asset Protection Trust or DAPT. Because of the ever more stringent IRS reporting…

By Phil Rarick, Esq. Here is a simple fact: most small businesses cannot afford or even survive a major dispute between partners if the dispute ends up in court. Such disputes can doom the small business due to interruption of the company business, distract the principal partners from focusing on growth, and soak up all…

Now may be an excellent time to attack a common misunderstanding about living revocable trusts: These trusts do not protect your assets if you are sued. If you can be sued, your revocable trust can be sued. Some people believe that the living trust is like a “pink pill” solution: it solves everything. While the…

By Phillip B. Rarick, Esq. and Gene C. Sulzberger, CFP®, J.D. In the United States there are multiple estate and gift tax traps if you are not a U.S. citizen or your spouse is not. If you are a non-resident, or a resident with a Green Card and own property in Florida or other parts…

______ #1. Trust Funding. After we signed your trust, we reviewed the funding of your trust and I gave you detailed Funding Notes. Have you followed up on these instructions? Funding is simply the transfer of your assets into your trust. It is a good idea to annually review the funding of your trust. It…

Who is Impacted by this Decision: Anyone with ownership interest in a single member Florida limited liability company (LLC). Executive Summary: On June 24, 2010, the Florida Supreme court held that a single member Florida limited liability company does not protect against an outside creditor with a judgment against the sole member of the LLC.…