litigation Tag

Famous People and Estate Planning Disasters

If you think all the well-to-do or celebrities have a magnificent estate plan in place, think again. Many wealthy individuals and famous people failed to properly organize and plan their estates. The result? Estate planning nightmares that lead to millions of dollars being gobbled up by Federal estate taxes, unnecessary legal fees, and lengthy court battles between family members. Below are three prime examples of missed opportunities, in terms of proper estate planning: Steve McNair Steve McNair was a successful NFL quarterback who died suddenly and unexpectedly. He did not have a will or any estate planning documents when he passed away....

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Asset Protection for Physicians

Physicians are constant targets of malpractice lawsuits. Generally, they have a high level of annual income as compared to most other people. Detailed required medical record keeping creates an ideal paper trail for any trial lawyer. Despite these challenges, physicians remain the highest earning professional group. Most physicians will accumulate significant business and personal assets that should be protected from the many liabilities that face the medical practitioner. This is where asset protection for physicians is absolutely critical. So what exactly is asset protection? Well, it is a hybrid between traditional estate planning and advanced planning strategies. This hybrid approach helps...

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