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Asset Protection

It's wintertime, when one can't help but think about Florida's many advantages as a retirement haven compared to northern states. In addition to no state income taxes and better weather, a lesser-known but important Florida feature is its homestead laws. "Homestead" presents deceptively complex issues in snowbirds' estate and tax planning when they finally become [...]

In 2010, KYEstates provided coverage here, here, and here regarding creditor protection for inherited IRAs. At that time there was no clear consensus on the degree of protection these accounts enjoyed. Earlier this year, in Clark v. Rameker, 573 U.S. ___ (2014), the Supreme Court resolved a circuit split and delivered bad news for debtors, finding [...]

If you are a KYEstates reader in a state where it's cold in the winter, you have probably seen them: people who seem to live in your own neighborhood and golf at your club, but have a car with a Florida license plate. Who are those people? They're the lucky ones: the Snowbirds who get a [...]

The popular financial press is pretty crowded, just like the blogosphere. Yet every once in a while, an article says something pretty simple that's also really important, something that connects strongly with issues we see time and again in our practice. Last week, Howard Gold published that sort of piece on Marketwatch.com: "The biggest retirement [...]

A decade ago, when the estate tax exemption was much lower, the irrevocable life insurance trust (or "ILIT") was a component of many (or even most) tax-aware estate plans. It was common for physicians, attorneys, architects, engineers, and corporate executives to have insurance trusts, without necessarily knowing why that was so. Reassured by their attorneys [...]