Don’t Transfer Ownership of Your House to Your Kids Before You Read This

 

With the cost of long-term care (LTC) skyrocketing, you may be concerned about your (or your elderly parents’) ability to pay for lengthy stays in assisted living and/or a nursing home. Such care can be massively expensive, with the potential to overwhelm even the well-off.
 

Because neither traditional health insurance nor Medicare will pay for LTC, some people are looking to Medicaid to help cover this cost. To become eligible for Medicaid, however, you must first...

Overlooking This Basic Part of Your Estate Plan Can Be Tragic

The recent death of the CEO of QuadrigaCX, a major cryptocurrency exchange in Canada, demonstrates a basic, yet often-overlooked, tenet of effective estate planning:

In the event of your incapacity or death, if your heirs don’t know how to find or access your assets, those assets are as good as gone. Indeed, it’s as if those assets never existed at all.

While it might not be that big of a deal if the assets in question aren’t worth much money, in the case of QuadrigaCX’s...

3 Ways to Ensure Your Company’s Corporate Veil is Never Pierced

 

Setting up your business as a corporation or limited liability company (LLC) is a crucial way to protect your personal assets from debts and other liabilities incurred by your business.

The ability of a corporate entity, such as an S Corp or LLC, to separate and safeguard your personal assets is often referred to as creating a “corporate veil.” When properly created and maintained, the corporate veil offers you vital personal liability protection from creditors, lawsuits, and other...

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