Articles Tagged with wealth planning

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It’s important to know how to safeguard your wealth against creditors. A carefully constructed asset protection plan can help you tremendously in the event that you become subject to a lawsuit, and it’s an essential part of estate planning as well.

That said, there are a number of pitfalls that you should avoid when creating an asset protection plan. We’ll go over a few of the most common here.

1. Assuming You Don’t Need an Asset Protection Plan

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The estate planning process involves a number of uncomfortable topics, but it’s important to make sure you are prepared for the difficult matters involved. The following are seven of the most important questions to ask during the estate planning process.

1. How will my assets be distributed/passed on?

The first question has perhaps the widest breadth: how will your assets be distributed after you pass away? It’s important to have some vehicle for outlining how your property, funds, and other assets will be distributed among your heirs, whether they’ll all be passed on to a spouse or divided up among descendants.

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