BOTTLED PROTECTION POINTS FOR YOUR BUSINESS
What is a “CRUMMEY” Power?
Bottled Protection Points provide tips for the business owner to contemplate and, if applicable, implement into his or her
everyday operation. The Protection Points span the three interwoven areas of Business Law–Asset Protection;
Estate Planning Protection; and Employment Law–all important considerations for the knowledgeable entrepreneur.
Bottled Protection Points are driven by Bottled Business Sense Newsletter; The Bottled Business Sense Show; and
WFB Legal Consulting, Inc.
A “Crummey” power is a provision contained in certain irrevocable trusts that permits specified trust beneficiaries to withdraw gifts you make to the trust for a limited period of time. Whether or not the beneficiaries exercise their right, the gift still qualifies for the annual gift tax exclusion.
Make sure you have a LAWYER FOR BUSINESS who provides you with the BEST ASSET PROTECTION available.