When you’ve worked hard throughout your life to build wealth, you will want to protect it to enjoy in your later years and pass it on to your loved ones. An asset protection trust in Arizona can give you the legal tools you need to preserve the fruits of your hard work. An experienced trusts […]
Asset protection is one of the key purposes of estate planning. A living trust is one commonly used tool to accomplish that goal. Living trusts offer many benefits beyond asset protection, including probate avoidance, easier distributions to heirs, and privacy. However, you may wonder whether a living trust can protect assets from lawsuit threats. Here’s […]
If you’re an investor with significant gains in market investments—whether from stocks, real estate, or a business sale—you may be facing a hefty capital gains tax bill when you decide to sell. Fortunately, a Deferred Sales Trust (DST) provides a powerful solution to legally defer taxes, reinvest your proceeds, and preserve your wealth. At Pennington […]
When nearing retirement, it is important to consider how to create reliable income streams that will last throughout your retirement years. Annuities are one of several options that can help provide guaranteed income in retirement. Annuities convert a lump sum of money or a series of payments into a guaranteed stream of income, essentially creating […]
As the principal wealth attorney of Pennington Law, PLLC, who was recently recognized as the Best Deferred Sales Trust Law Firm in the U.S. of 2024, I am often asked how to minimize taxes on cryptocurrency. The ongoing crypto bull run has presented incredible opportunities for investors to realize substantial gains. However, the tax implications […]
Between now and 2045, roughly $84 trillion will be passed between generations, largely through estate plans. This has been branded the Great Wealth Transfer, and the process has already started. Many members of the Millennial and Gen X generations are receiving these assets from their parents and grandparents. $84 trillion is a staggering amount of […]
Andre Pennington, a wealth attorney and a registered financial planner® from Pennington Law, PLLC, recently published an article in Forbes Magazine on the value of fixed indexed annuities as a tool to grow retirement savings. A fixed indexed annuity (FIA) is an insurance product that financial planners sometimes overlook as a strategy for retirement savings, […]
Wealth preservation is one of the goals of estate planning. For some, the wealth they have may be suitable to pass down to multiple generations. One option to do this in Arizona is through dynasty trusts. This is a type of irrevocable trust, so the creator loses control of the assets once the trust is […]
Accruing wealth can occur over the course of years of hard work or may result from a sudden windfall. Unfortunately, too many people become complacent after achieving financial success. They may fail to properly plan to preserve their good fortune. 70% of wealthy families lose their wealth by the second generation and 90% by the […]
Everyone should consider potential long-term care needs when planning their estates. Long-term care includes medical and support services for routine tasks such as dressing, bathing, and eating, which can be provided at home or in a professional setting such as a nursing home or assisted living facility. But without proper planning, the costs of long-term […]
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