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Asset Protection

4 Reasons to Protect Your Retirement Accounts Now

Posted on: April 26th, 2016
During your lifetime, your retirement account has asset protection, but as soon as you pass that account to a loved one, that protection evaporates. This means one lawsuit and your life-long, hard-earned savings could be gone. Fortunately, there is an answer. A special trust called a “Standalone Retirement Trust” (SRT) can protect inherited assets from your beneficiaries’ creditors....

Asset Protection Considerations for Business Owners

Posted on: April 10th, 2015
Many business owners devote much time and energy “working in” their business to improve business operations and profitability; however, they often neglect to “work on” their business by not addressing certain asset protection issues. Business owners, particularly those owning their business in corporate form, should consider the following: 1) how to own C corporation or S corporation stock to minimize exposure to creditors, an “outside” asset protection issue; and, 2) whether to implement several basic business agreements designed to protect and even enhance business value from the “inside” of the corporation....

Keeping Assets in Challenging Times

Posted on: April 10th, 2015
I frequently get asked about asset protection; specifically about keeping certain types of personal property. About three times a week, the questioning commences with discussions about ATVs, boats, motorcycles and snowmobiles. ...

Inherited Retirement Accounts: 5 Things You Need to Know

Posted on: April 10th, 2015
Almost everyone has some kind of retirement account—whether a 401(k), IRA or pension—so proper estate planning for these funds is essential. From tax treatment to beneficiary designations, Matthew T. McClintock, J.D., VP of Education with WealthCounsel, answers your questions....

How to Leave Assets to Minor Children

Posted on: April 10th, 2015
Every parent wants to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles and other relatives often want to leave some of their assets to young children, too. But good intentions and poor planning often have unintended results....

How to Protect Yourself From Lawsuits

Posted on: April 10th, 2015
These days, lawsuits can happen to anyone, at anytime. In the United States alone, roughly 15 million civil cases are filed each year. For those who work in fields where lawsuits are common—doctors, lawyers, architects, business owners—getting sued seems inevitable. A study published in the New England Journal of Medicine found that 99 percent of physicians in high-risk specialties will deal with at least one malpractice suit before retirement age. ...
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Leonard A. Hagen, J.D., LL.M.
Sound Estate Planning, PLLC
152 3rd Ave. South, Ste. 107
Edmonds, WA 98020
Phone: (425) 967-7287
len@soundestateplanning.com

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