Just because you recently signed your will or trust, doesn’t mean we want it used anytime soon. Be safe, even if your estate plan is up to date. Enjoy the following clip: Why Seniors Break Their Hips!
Press Releases May 15 2013 LEE: IRS Scandal More Than Just Partisan Fighting “The real lesson is that our massive federal government bureaucracy is inherently dysfunctional, corrupt, and intolerant regardless of who is in charge.” WASHINGTON – Today, Senator Mike Lee released the following statement on the IRS scandal involving the targeting of certain conservative [...]
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It was reported yesterday by the Guardian news service located in the United Kingdom that “more than 100 of Britain’s richest people have been caught hiding billions of pounds in secretive offshore havens, sparking an unprecedented global tax evasion investigation.” The Guardian article included Chancellor George Osborne’s warning to alleged tax evaders, and their accountants and advisers: [...]
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From an estate planning perspective, there are a variety of ways to structure the ownership of a captive insurance company to enhance the overall tax and asset protection benefits available through §831(b) captive planning. But first, a few words on Captive Insurance Companies and Internal Revenue Code section 831(b): What is a captive insurance company? [...]
By now, most of us know that U.S. Supreme Court Chief Justice John Roberts upheld “Obamacare” by ruling that the penalty imposed upon a person for failure to purchase health insurance is not a penalty, but is actually a tax. For those individuals who are self-employed or retired and do not have W-2 wages withheld, [...]
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Unitrust Conversion. A unitrust, or total return trust, is a trust that pays beneficiaries a fixed percentage of trust assets as opposed to paying them the income from the trust assets. Under Nevada law, the term “income” means an annual distribution from the trust equal to not less than 3 percent and not more than [...]
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Trustees are to administer a trust or estate in accordance with the terms of the trust or will in spite of the provisions of UPIA.[i] Otherwise, trustees are obligated to comply with the prudent investor rule.[ii] The prudent investor rule consists of the trustee considering the terms, purposes, requirements for distribution and other circumstances of [...]
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The first duty of the Trustee is to honor and Carry out the intentions of the settlor or the trust as provided for the in the trust agreement. Almost all rules of the rules of trust law are default rules that the settlor can “alter or abrogate.”[i] Beneficiaries of a trust can also excuse the performance of [...]
This article explains some of the powers that Trust Protectors, Trust Advisers, and Special Fiduciaries might be given. Trust Protector: a trust protector is a third party who is given contractual powers to protect the terms of a trust. The position of trust protector has been common in offshore asset protection planning but is a [...]
The following article was written by David M. Grant and Jeremy K. Cooper and was originally published in COMMUNIQUÉ (May 2009, Vol. 30, No. 5), the official journal of the Clark County Bar Association. “What’s good for the goose is good for the gander.” This timeless cliché accurately portrays the logic behind Nevada’s recent ground-breaking [...]
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GMD Blog Posts
- Please don’t kill yourself, even if you have a will or trust!
- Wise words from Senator Mike Lee (Utah)
- UK’s Richest People Conceal Billions in Offshre Tax Havens
- Estate Planning: Who Should Own The Captive Insurance Company?
- Avoiding the Obamacare Tax (Penalty)
- Uniform Principle and Income Act (UPAIA)
- Uniform Prudent Investor Act (UPIA)
