ILIT

Personal Asset Protection for Physicians

By Ken Laino on September 1, 2009

Posted in Asset Protection Strategies/Alternatives, Physician Asset Protection

Whether you are a physician in private practice or working for a hospital or other health care organization, you should consider some basic steps to protect your assets. Here are a few suggestions:

Maximize contributions to IRA’s and other qualified plans. Assets in IRA’s and qualified employee benefit plans are generally awarded special protection from creditors. Many plans

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Irrevocable Life Insurance Trusts Provide Excellent Asset Protection

By Ken Laino on June 15, 2009

Posted in Irrevocable Life Insurance Trusts

Irrevocable life insurance trusts (ILITs) can be a great estate planning tool under the right circumstances. ILITs have the added benefit of providing significant asset protection.

Life insurance owned by an ILIT is not generally part of the insured’s estate (for both federal and Ohio estate tax purposes). An ILIT will be most effective if it…

Traditional Asset Protection Is Frequently the Best

By Ken Laino on June 2, 2009

Posted in Asset Protection Strategies/Alternatives, Domestic Asset Protection Trusts

There are many asset protection strategies, and the more expensive and complex ones are not always the best. I like the comment made by Jay Adkisson (a nationally recognized asset protection planner) in the May 11, 2009 issue of Forbes Magazine. He basically says the best ways are the old ways.

While that is a big generalization, there…