The goal of this series is to explain different principles upon which asset protection planning rests. In this article, we will explore in what specific scenarios asset protection planning may be of particular significance, and some tools that are available for implementation. BASIC STRATEGIES: One of the simplest strategies of asset protection involves various exemptions allowed…

When it comes to understanding trusts, knowing the difference between revocable and irrevocable trusts is crucial. If you ask for a revocable trust and get an irrevocable one, or vice versa, the legal and tax consequences will be significant. Revocable Living Trusts A revocable living trust, also known as a revocable trust, living trust or…

PAYDAYS: It is an employer’s obligation to pay you on the established payday regardless of whether the time-card is submitted. There is no exception in the law that allows an employer to require you to wait until the next payday, or even until the time-card is turned in. Your employer can comply with the law,…

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