WealthDocx® Winter 2013 Enhancment
Sign in to YouTube
Sign in to YouTube
Sign in to YouTube
Published on Feb 28, 2013
By Jason E. Havens, VP General Counsel, and Editor-in-Chief, The WealthCounsel Companies.
This update did not add any new systems, but instead incorporated improvements to existing systems.
Irrevocable Trust System. The primary focus of this enhancement is the expansion of our domestic asset protection trust (DAPT) options. The WealthDocx® DAPT has thus far been based solely on Delaware law. With the help of our Asset Protection Advisory Group, our Nevada State Forum, and others, we now added Alaska, Nevada, and South Dakota as DAPT options.
We chose these additional jurisdictions based on several factors. First, our members typically utilize one of these jurisdictions to facilitate DAPT-oriented planning. Second, these states represent most of the top-rated DAPT jurisdictions. Third, these three additional states impose relatively few state and local taxes, which make them even more attractive when planning with business entities, certain charitable techniques (particularly those that would generate unrelated business taxable income), and similar planning.
Limited Liability Company System: The limited liability company (LLC) system has undergone a full style review to ensure that its documents are consistent with WealthCounsel's WealthDocx® Style Guide. In addition, we have made changes to the operating agreement that enhance asset protection objectives. We also included changes suggested by the Business Planning Advisory Group as part of its recent Boston meeting.
Insurance and Asset Protection Issue in Revocable Living Trust: A recent Florida case highlighted the situation where creditors could pursue insurance death benefits payable to a revocable living trust via the probate estate claims procedure. To combat this, we inserted a provision designed to protect those insurance proceeds.
Rental Provision for Qualified Personal Residence Trust: An automatic rental provision is now included where the initial term of a qualified personal residence trust ends but the grantor(s) might continue to occupy the residence.
Standard YouTube License
- 34:43 Practice Excellence: Why You Are the Power Behind Our Brandby WealthCounsel100 views
- 15:00 Creating Lasting Legacies Highlight Reel 2012by WealthCounsel120 views
- 7:57 WealthDocx® Winter 2012 Enhancementby WealthCounsel381 views
- 8:33 WealthCounsel Unveils WealthDocx 7 - Part 2by WealthCounsel604 views
- 3:05 HK45c Magazine Optionsby ammoshooter2,341 views
- 8:26 WealthCounsel Unveils WealthDocx 7 - Part 1by WealthCounsel2,119 views
- 2:27 Natalia Kabbe Finalby WealthCounsel130 views
- 2:07 Funding, Part 1by WealthCounsel75 views
- 5:49 WealthDocx Winter Enhancementby WealthCounsel182 views
- 1:39 WealthDocx: 10 Reasonsby WealthCounsel620 views
- 2:55 Stop Paying Taxes - Intentionally Defective Grantor Trust - IDGT - Skloff Financial Groupby askloff1,051 views
- 1:05 Why Nevada Asset Protection Laws Are the Best in the Countryby AllianceTrustCompany94 views
- 8:21 Charities & Public Benefit - webinarby mbltv7 views
- 2:23 2013 Winter Retirement Forumby Investacorp Incorporated40 views
- 4:39 Part 7 - Estate Planning with Low Interest Ratesby Lurie Besikof Lapidus & Company, LLP12 views
- 3:21 Wealth Transfer Plansby DocumentsOnADisk26 views
- 1:20 Occupy the Primary Planningby NHOccupy3 views
- 0:13 The Tax Law of Unrelated Business for Nonprofit Organizations скачатьby Takhtamyshe Takhtamyshev
- 1:39 Attorneys Transitioning Toward Retirementby WealthCounsel8 views
- 2:38 Serve Business Owners with BusinessDocxby WealthCounsel25 views
- Loading more suggestions...