Given the economic downtown , it’s even more important for investors consider a plan to make sure assets are protected.
Some plan participants may use non-hardship 401(k) withdrawals to invest in individual retirement accounts.
Changes in tax laws, cost of living differences, and the appeal of milder climates prompt many people to consider relocating. While there may be benefits — including financial benefits in some cases — the process can be complex. A person may have several residences, but he or she can only have one domicile or “legal”
A homestead exemption can help clients protect their primary residence from creditors’ claims, but it is important that clients understand the laws that are specific to their state. In most states homestead protection is limited, based on when the property was acquired, and caps exist on the amount of home equity that can be protected.
Asset protection — also known as “creditor protection” — is an important element of financial planning. Federal and state laws offer safeguards for as variety of assets. Explore a discussion with Bill Cass and Chris Hennessey as they discuss minimizing current risks and and why it is important to think long term about planning. 284626