Planning for a Loved One with Special Needs

Article, Estate Planning

When planning for a loved one with special needs, here are a few points to consider. When I speak of a Special Needs Trust, I sometimes use the term ‘luxury trust’. My point in using this term is to highlight the fact that Special Needs Trusts are designed to provide...

Special Needs Planning: One Trust or Two

Article, Estate Planning

The importance of a Special Needs Trust was reviewed in a previous article in this paper. In that previous article, we noted that the purpose of the Special Needs, or Luxury Trust, is to provide assistance to the special needs child beyond that which is provided by...

Protecting My Life’s Work – Choosing the Proper Form of Business Entity

Article, Civil Litigation, Estate Planning, wealth preservation

PROTECTING MY LIFE’S WORK: CHOOSING THE PROPER FORM OF BUSINESS ENTITY “I’m a business owner (or soon to be one) what type of entity should I choose?” At McDowall Cotter, we make two classi cations: “non-asset protection” and “asset protection” entities. General...

What Does Life Estate Mean?

Article, Civil Litigation, Estate Planning, wealth preservation

I was asked by a “friend” about her step mother staying in her dad’s home after dad died. He had written a trust and in it he granted her a “life estate.” According to the terms of the trust, she was “entitled to remain and reside within our residence at 1122Boogie...

Purpose and Scope of the Company

Article

PURPOSE AND SCOPE OF THE COMPANY Most people initially think that an entity is only formed and organized for asset protection. Most people don’t know that if the appropriate entity is chosen and set up properly it can help meet the following goals: Income tax:...