Estate Planning for Protection and Control

Jeff Camarda (drjeff@camarda.com), Steven James Lee (slee@georgejamesassociates.com) and Jerusha Lee (myst1248@hotmail.com)
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Jeff Camarda: Family Wealth Education Institute
Steven James Lee: California State Polytechnic University
Jerusha Lee: Claremont Graduate University

A chapter in The Financial Storm Warning for Investors, 2021, pp 109-119 from Springer

Abstract: Abstract This chapter explores the relationship between estate planning—transferring your propertyProperty while alive or dead in a tax efficient manner—and asset protection (which shields your wealth from non-tax-related threats like civil liability). Much of this discussion revolves around trusts—legal instruments that separate official ownership from beneficial control. Trusts avoid probateProbate and accomplish other legacy goals. We caution readers to first conceptualize whom you wish to benefit with your property—both alive and after. Some of this type of planning cannot be easily changed once you elect to move forward. While this chapter introduces you to many of the techniques we’ll discuss in detail later, it showcases the reasoning and basic concepts behind the sophisticated mechanisms you will put in place to protect your estate.

Keywords: Estate planning; Property transfers; Trusts; Legacy goals; Probate (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-77271-0_12

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DOI: 10.1007/978-3-030-77271-0_12

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