Recent Blog Posts
When to Review or Update Your Revocable Living Trust
Do you have a Revocable Living Trust? If so, here are two important things you should know. You're awesome! Congratulations. Your Revocable Living trust may one of the most, if not the most, important [...]
5 More Asset Protection Mistakes You Should Avoid
A few weeks ago I wrote about 5 Asset Protection Mistakes You Should Avoid. Here are 5 more asset protection [...]
3 Irrevocable Trust Misconceptions
People make incorrect assumptions about irrevocable trusts all the time. Yes, even attorneys, CPAs, and financial advisors. Irrevocable trusts are [...]
5 Asset Protection Mistakes You Should Avoid
There are many reasons to plan ahead to protect your assets from potential risks. You may be in a [...]
All Blog Posts
Does a Revocable Trust Protect Assets?
The answer is NO, except when the answer is maybe. I'll explain why a revocable trust generally doesn't protect assets and circumstances where a revocable trust can protect assets. Revocable trusts are still amazing tools for estate planning and most people need one as part of their foundational estate [...]
Choose Experiences not Things
I have vivid memories of unique experiences in my childhood. Even from when I was as young as 2 years old. Funny that I don't remember much detail about the day to day from my childhood. Think about your past. What experiences stand out? What memories are the most [...]
What is a UDAPT?
A UDAPT is an irrevocable trust blessed by the Utah legislature which pretty much lets you have your cake and eat it too. "Own nothing and control everything" as Nelson Rockefeller famously said. UDAPT stands for Utah Domestic Asset Protection Trust. Utah is one of a minority of States that [...]
Gratitude Journal
What are you grateful for? Several years ago my wife challenged me to write in a daily gratitude journal. I am grateful for her and for that challenge. I began writing daily. It was pretty simple and became a habit. It only took about 10 minutes each day and changed [...]
What is a NING Trust?
NING stands for Nevada Incomplete-gift Non-Grantor Trust. An ING Trust is an irrevocable trust designed to be treated a certain way for tax purposes. Incomplete-gift means that transfers to the trust do not require filing of a gift tax return (Form 709) and the trust assets remain part of [...]
What is an Irrevocable Trust?
An irrevocable trust is one where the Settlor (the person who established the trust) does NOT retain powers to revoke or amend the trust. This sounds pretty permanent, right? Even though the Settlor can’t revoke or amend the trust, if drafted properly, other mechanisms can be used to add [...]
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