Estate Planning as a Career

Today I am going to talk a little about the problems I see with beneficiary selections on both IRAs and Life Insurance. First lets review exactly what a beneficiary is and the goal of our beneficiaries.

The beneficiary provision is supposed to allow for the naming of a primary and contingent beneficiary. The primary beneficiary is the person designated to receive the death benefits if the insured dies. The contingent is the person designated to receive the death benefits if both the (more…)

Recently I’ve run across some significant issues with the single member LLC’s with courts handing down noteworthy judgement decisions in favor of creditors using the theory of “fraudulent transfers” and “civil conspiracy.” I ran across two such individuals that have made me more caution on client advice regarding single member LLCs.

SINGLE MEMBER LLC - LIMITED LIABILITY COMPANY PASS-THROUGH LEGAL ENTITY

The LLC is a TAX HYBRID “pass-through” legal entity similar to a partnership b (more…)