Avoid “bad blood” among family members: Protect your will from legal challenges

Avoid “bad blood” among family members: Protect your will from legal challenges You’ve probably seen it in the movies or on TV: A close-knit family gathers to find out what’s contained in the will of a wealthy patriarch or matriarch.…

Why do partners sometimes report more income on tax returns than they receive in cash?

Why do partners sometimes report more income on tax returns than they receive in cash? If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be…

Fortify your assets against creditors with a trust

Fortify your assets against creditors with a trust You may think of trusts as estate planning tools — vehicles for reducing taxes after your death. While trusts can certainly fill that role, they’re also useful for protecting assets, both now…