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Traditional Limited Partnerships & Family Limited Partnerships: Pros and Cons. A Look at Other Trusts, Foreign Deferred Compensation & Private Banks The concept of a trust was first used in Anglo Saxon times and is a contractual arrangement whereby property is transferred from one person (The Grantor) to another person or corporate body (The Trustee) to hold the property for the benefit of a specified list or...
Family Limited Partnerships can be abusive tax-free wealth transfers. How does the family limited partnership work and what are the disadvantages? To discount estate tax valuations of underlying assets used as a tax deferral strategy when gifting to the younger generation. Watch the video on Family Limited Partnership: Disadvantages Like this video? Subscribe to our channel. Family limited partnerships, one such traditional limited partnership,...
Advantages of a Trust Trusts are a powerful tax planning tool but they also have many other uses which are of equal if not greater importance. A properly drafted and managed trust can confer advantages under any or all of the following: Asset protection Trusts can be used very effectively to protect assets. In simple terms, assets transferred to a trust no longer belong to...