In New York, no law protects assets that you have placed in a trust that you have created to give you benefits as a trustee. In such a case, the assets can be attached by creditors and be used to cover your debts just as if they were directly in your name. However, we have…
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You love your children more than anything in the world, and you want a failsafe financial plan for them in case you aren’t around. You need someone who is willing to step into your shoes and take care of your loved ones; they should also be completely trustworthy and dedicated to the children’s wellbeing. So,…
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When you are running a business, and you have potential creditors that might attach your assets, you have the option of transferring the assets to an LLC or a trust that is located offshore. Typically, a person that sues you in New York has a high chance of getting awarded a certain amount of money,…
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Between all the emotional upheavals of divorce and all the difficult decisions to make, there is also the matter of estate planning. Everyone hopes they are planning for life when they get married to someone, but this reality does not hold true for many. You may have created an estate plan and stuffed it in…
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Surveys show that only about 40 per cent of small businesses survive the first year in operation. This tells you that more than half of the businesses don’t see the end of the first year. For many startups, the owner has to put up their personal cash for capital, and they have to sign for…
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We are pretty sure that if you have some sort of property or assets then you would understand the importance of having a will. It is something that provides an opportunity for you to ensure that your assets along with the property that you have to pass on to the people and organizations that wish.…
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As long as you have assets that someone can reach, you shouldn’t be thinking about whether you will be sued or not – it is all about when you will get sued. We have seen people that have survived risky careers without being sued and ended up getting sued for a simple slip and fall…
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An Administrative Proceeding is the process by which an estate is distributed in accordance to intestacy laws of a given state while being supervised in court. When a person passes, if he/she has never gotten around to any form of estate planning and therefore passes away without having a Will or Trust the estate is…
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We live in a world where you can lose your assets at any time. Each year, more and more individuals end up bankrupt. Like any other person with assets or a family to look after, you might be wondering what to do to protect your assets and enjoy lifelong peace of mind. So, what should…
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You may have heard of the term Probate, but what is Probate? Well, there are couple of things you need to understand, such as. A person is given the choice during life to plan their estate or to do nothing and leave the pass through of their estate up to the state intestacy laws and…
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