Recently in Asset Protection Category

Engaging in asset management is necessary for analyzing the strengths and weaknesses of investment products to minimize risks and financial losses. The level of management required depends upon the type and value of investments within the portfolio.

There are several approaches to asset management. Some people prefer to use portfolio management software, while others hire a portfolio manager or company. Software programs track and monitor the performance of stocks, bonds, commodities, global investments, real estate investments, and other financial products.

Asset managers offer consulting services, buy and sell investment products, and monitor performance of investment products. Managers can help you create a diversified portfolio and offer advice on when to buy, sell, or trade to achieve the right mix of asset allocation.

Estate tax is an issue that is frequently debated. It's also a topic that is often misunderstood. There are several types of taxes that are associated with decedent estates. In addition to taxes against estate assets, there are also gift, inheritance, income, and generation skipping taxes.

Federal estate tax is imposed when the estate value exceeds $5,000,000, but this amount will decrease to $1,000,000 onJanuary 1, 2013. Currently, 18 states also impose a separate state estate tax. Seven states impose inheritance tax on certain beneficiaries that receive decedent assets. Surviving spouses are exempt from state inheritance tax, as are charitable organizations.

Estate tax is calculated based on the net value of estate assets owned at the date of death. In the states where state estate tax is collected beneficiaries are allowed to claim an exemption for part of the value. These exemptions range from $338,333 to $5,000,000.

Family law attorneys specialize in legal issues related to families such as marriage, divorce, adoption, and guardianship. These lawyers also are needed when a person wants to change their legal name, establish a living trust, or if minor children get in trouble with the law.

It's best to work with family law attorneys that put you at ease and address your concerns and questions. It's also best to work with lawyers that specialize in the field of work required. For example, some law firms specialize in adoptions, while others specialize in estate planning or representing juveniles that have been arrested.

When possible take time to interview lawyers before hiring them. Most law firms provide complimentary consultations to meet with prospective clients and discuss their case. Others charge a nominal fee for meet-and-greet consultations.

Asset protection refers to legal processes used to protect assets against lawsuits and creditor seizures. While many methods exist, some of the more common include setting up a limited partnership, asset protection trust, or limited liability corporation.

Many people believe asset protection is reserved for the wealthy, but this isn't the case. One of the greatest threats toU.S.residents is lawsuits. Believe it or not, around 50,000 lawsuits are filed every day.  People often lose everything they own because they didn't engage in proper planning.

Personal lawsuits can quickly bankrupt a person's life savings and leave them swimming in debt for years to come. Professional malpractice and employment lawsuits can destroy a company that's been around for decades.