Asset Protection
Guarding Your Children’s Future: The Pros and Cons of Trusts and Direct Giving
Guarding Your Children's Future: The Pros and Cons of Trusts and Direct GivingPlanning for your children's financial future is a significant responsibility. Two common strategies include leaving assets in a trust for your children or directly giving money to their guardian. Each method has its pros and cons, and the best choice depends on your specific circumstances and goals. This article will...
Decoding Estate Planning for Millennials: A Guide for Financial Security and Legacy Creation
Decoding Estate Planning for Millennials: A Guide for Financial Security and Legacy CreationAs millennials, we're often caught in the whirlwind of life's milestone moments - getting married, welcoming a new baby, or even diving into the world of investments. But in this flurry of activity, one vital aspect often gets lost: estate planning. This crucial roadmap not only ensures our financial...
Decoding the IDGT Debate: IRS Revenue Ruling 2023-2 and Its Impact on Estate Planning
Discover the implications of IRS Revenue Ruling 2023-2 on Intentionally Defective Grantor Trusts (IDGTs). The ruling clarifies that gifted assets to an IDGT are taxable to the grantor for income tax but do not receive a step-up in basis upon the grantor’s death. Learn how this affects estate planning strategies and asset protection for beneficiaries.
Planning a Barbecue Is Like Planning Your Estate
Jensen Law Office, PLLC 1833 N 105th St., Suite 301 Seattle, WA 98133 Planning a Barbecue Is Like Planning Your Estate As the Memorial Day weekend kicks off the summer season, many look forward to the warm weather and gatherings with loved ones, including backyard barbecues. While a cookout may seem casual, proper planning plays a crucial role in its success. Surprisingly, a similar...
Five Things to Know Before Including a Limited Liability Company in Your Estate Plan
Jensen Law Office, PLLC 1833 N 105th St., Suite 301 Seattle, WA 98133Five Things to Know Before Including a Limited Liability Company in Your Estate Plan When it comes to protecting your hard-earned money and property, it is important that you have the right plan, which can include a number of tools for your unique situation. One tool that might benefit you is a limited liability company...
A Legacy Preserved: A Multigenerational Success Story with the Legacy Planning Model
Jensen Law Office, PLLC 1833 N 105th St., Suite 301 Seattle, WA 98133 A Legacy Preserved: A Multigenerational Success Story with the Legacy Planning Model Discover How Our Comprehensive, Customized Approach Helped the Anderson Family Safeguard Their Wealth and Pass on a Lasting Legacy As a way of introducing our Legacy Planning Model, I would like to introduce you to the hypothetical...
Unique Gift Ideas that Benefit You Too
Jensen Law Office, PLLC 1833 N 105th St., Suite 301 Seattle, WA 98133 Unique Gift Ideas that Benefit You Too You may associate the month of December with giving holiday gifts, but it is also a great time for you to think about the valuable estate planning opportunity presented by year-end gift giving. In making lifetime gifts, you can experience the pleasure of providing immediate...
Types of Life Insurance and How They Can Be Used in Estate Planning
Jensen Law Office, PLLC 1833 N 105th St., Suite 301 Seattle, WA 98133Types of Life Insurance and How They Can Be Used in Estate Planning Many of us do not start thinking about life insurance until we get our first full-time job and the company’s human resources representative asks us if we want to enroll in the employer’s group life insurance policy. Most people think “Why not?” and sign...
An Introduction to Dynasty Trusts
Jensen Law Office, PLLC 1833 N 105th St., Suite 301 Seattle, WA 98133 An Introduction to Dynasty Trusts When people create estate plans, they typically focus on handing down their money and property to their children, grandchildren, and other living heirs. But some people want to leave behind a more enduring legacy. For those interested in multigenerational wealth transfer, a dynasty...
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