Tag Archives: Trust Fundamentals

Asset Protection for Physicians and their Practices Part 2

Second part of a program presented for educational purposes about asset protection for physicians and their practices. In the video, we tackled topics as determining how to best allocate assets as between a married couple, the marital asset preservation system, where do trusts fit in logistically, and more.

Asset Protection for Physicians and their Practice Part 1

First part of a program presented for educational purposes about asset protection for physicians and their practices. In the video, we tackled topics as important needs for the successful physician family, making the most of your initial opportunities, primary causes of liability, and more.

Decanting an Irrevocable Trust: A “Do-Over Trust”

When it comes to irrevocable trusts, many people believe you cannot make changes after it is established. However, that is not the case. You have the option to decant an irrevocable trust, which will allow you to make changes or amends to the original trust. If you’ve never heard of this process before, you probably have many questions. Learn more about decanting irrevocable trusts in the video linked below. Topics discussed include:

– Are trusts Irrevocable?
– Decanting Trusts
– New trust or pre-existing trust?
– Common Law
– Differences from State to State
– Nevada Decanting Statute
– Common Reasons to Decant

 

If you have questions about decanting irrevocable trusts, contact Peak Trust Company. Our team of trust experts can help answer any questions you may have.

Gun Trusts

All gun owners, whether a collector, enthusiast, or one just getting started with heavy ordinance, should consider a Gun Trust. A “Gun Trust” is a type of trust created by a weapon owner(a “grantor”) to deal with the issues of owning, possessing, using, shipping, transporting, receiving, delivering, transferring, or otherwise disposing of firearms, especially Title II firearms.

Asset Protection Planning for Physicians

In this litigious era, individuals who are in high-risk professions, such as physicians, should consider asset protection strategies to safeguard their financial well-being.According to a recent study in the New England Journal Of Medicine, 75% of physicians in low-risk specialties have faced a malpractice claim by age 65.Read this paper to learn how to protect yourself.

This paper covers:

  • Asset Protection Strategies Defined
  • How Trusts Fit Into an Asset Protection Plan
  • The Myths and Realities of Using Trusts for Asset Protection
  • The Best Jurisdictions for an Asset Protection Trust