Asset Protection, Wills, Trusts, Estate & Business Planning
I have shewed you all things, how that so labouring ye ought to support the weak, and to remember the words of the Lord Jesus, how he said, It is more blessed to give than to receive. Acts 20:35
“Decanting is the act of distributing the assets of an old trust to a new one with more desirable terms. It provides an easy method for correcting errors or ambiguities, adapting a trust to changes in a settlor’s objectives or changes in a beneficiary’s circumstances, taking advantage of new planning opportunities or adding flexibility to a trust.” Peter J. Melcher, Robert […]
I listened to an interesting seminar yesterday titled “Estate Planning in Agriculture: Protecting a Way of Life” sponsored by WealthCounsel.com. Stan Miller and Robert Serio were the presenters. Serio covered the Farm Service Agency (FSA) Subsidy Programs and the Natural Resource Conservation Service (NRCS) Programs. He cautioned attorneys to be careful to not to do […]
“Serving as an executor or trustee is neither an honor, nor a game for beginners to play. Acting as an executor or trustee requires technical skills, experience, and an ability to deal with the family members involved. Nevertheless, clients often choose an executor and the trustee without fairly evaluating the needs of the estate or trust against the […]
I’ll be brief, and in being brief, I’ll gloss over some details. But here’s the low down. A husband and wife farming couple can receive up to $250,000 annually in FSA program subsidies if they grow corn, soybeans, cotton, rice, and the like AND if they are actively engaged in farming AND if they are […]
Regarding the benefits of so-called gun or NFA trusts: In gun trust planning, it’s in some ways less important to know who owns an NFA firearm and more important to consider who has the right of possession. Access equals possession. A spouse or other family member with access to an NFA firearm registered solely to one […]
“It’s easy to come up with new ideas; the hard part is letting go of what worked for you two years ago, but will soon be out of date.” Roger von Oech
My entire immediate family was in town for the last five days. My three children, my son-in-law, and my one grandchild–a two-year-old girl with lots to say and not enough words to say it. Now actually, what I just wrote is true and not true at the same time. What I just described is that […]
Although the phrase implies that the carrying of the weapon is for the purpose of “offensive or defensive action,” it in no way connotes participation in a structured military organization. From our review of founding-era sources, we conclude that this natural meaning was also the meaning that “bear arms” had in the 18th century. In […]
I had a person ask me about the difference between a gun trust and his existing living trust. I sent him the following (I’ve changed his name to protect his privacy): Fred, Again, thanks for contacting me about gun trusts and more specifically, how a gun trust differs from your existing living trust. I’ll try to […]