Adding your child to your bank account might seem like a simple way to ensure they can help manage your finances—but it could create more problems than it solves. From unintended disinheritance and gift tax issues to exposing your assets to your child’s creditors, joint accounts come with hidden risks. In this video, Beau Ruff explains why a power of attorney is often a safer, smarter alternative for granting access without giving up ownership.
Do you own rental property, a vacation home, or commercial real estate? Placing income-producing real property into a Limited Liability Company (LLC) could be one of the smartest legal and financial moves you make. In this video, Beau Ruff explains how an LLC can protect your personal assets, reduce liability, and even simplify estate planning—especially for out-of-state properties. Learn the key benefits, potential pitfalls, and why forming an LLC before you buy might save you time and trouble later.
If you're married and living in Washington state, your estate plan might be missing a powerful yet simple tool: the Community Property Agreement. Despite Washington being a community property state, assets don’t automatically transfer to a surviving spouse upon death. This one-page document can streamline your estate plan, ensuring your wishes are honored and your spouse is protected. Learn how it works, when it’s right for you, and why it might be the most cost-effective estate planning move you can make.
In the world of asset protection, one well-known concept to mitigate risk is to transfer the obligation for payment of a valid …
Transferring wealth to children will become a touch easier in 2024. Buried in the estimated 4000-page Consolidated Appropriation Act of 2023 that …
As Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Taxes come in …
Though most Americans have at least a passing understanding of the ability to use the equity in a house to obtain a …
One of the most important and common questions that retirees face is when to take social security benefits. Regrettably, there is no …
In the old days, the decision to fund a retirement account with pre-tax dollars (Traditional IRA) or fund it with after-tax dollars …
